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Step 1
The first step to reduce credit card interest rates is to gather the correct information. Make sure that you know the exact interest rate you are currently paying on all of your credit cards. Also, obtain a free copy of your credit report to use your credit score as leverage.
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Step 2
Call the credit card company and ask for a lower interest rate. You might have to ask to speak to a manager to talk to someone who can lower it for you. Use your credit history and your credit score as leverage to obtain a lower credit card interest rate. I have provided a link in the resource section that provides great pre-written scripts for you to say to lower your credit card interest rate.
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Step 3
Make sure that you do not carry a big balance on any credit card. Also, make sure that your debt-to-income ratio is not high. If it is, consider paying off your credit card until this ration becomes lower.
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Step 4
If your credit card company will not lower the interest rate you can begin looking for a credit card with 0% interest and do a balance transfer. You can transfer all of your debt to one single card with a lower interest rate.
