Lowering the interest rates and monthly payments on your credit cards can give you more money to work with and help you get out of debt faster. Depending on your circumstances, you might be able to negotiate a lower interest rate, or even a lower balance, by talking directly to your credit card issuers. You can also look at transferring those high interest credit card balances to cards with a lower interest rate.
Create a list of your credit card balances, including the interest rate on each card and the amount you owe on each one. Start working with the highest interest rate card, since that will give you the best return on your investment.
Contact each of your credit card issuers and ask to speak to a supervisor. In most cases the front line customer service representatives will not have the authority needed to lower your interest rate or reduce the total amount you owe.
Explain your situation to the supervisor and indicate exactly what you want. If you have lost your job, explain that and indicate that you need to have the amount you owe lowered so you can continue to make your payments. If you want to lower your interest rate, indicate that as well.
Request a document detailing the outcome of your conversation and any promises made by the supervisor. Read the document you receive carefully to make sure the details are accurate, then begin making your payments in accordance with the new terms and conditions.
Seek out a new credit card with a low balance transfer option or a low fixed interest rate if you are unable to work out a deal with the original issuer. Transfer the balance from the old high interest rate card to the new card when you receive it. Work hard to pay off the transferred balance as quickly as you can.