3) Simply Ask Lenders to Reduce Interest Rates(3 of 7)
3) Simply Ask Lenders to Reduce Interest Rates(3 of 7)
Most Credit Card Lenders will lower your interest rate is you do the following:
a) First shop around and see if you can get better interest rate with another company. Once you find a good one, use that as leverage when speaking with your card company. Tell them you’ll leave if they don’t lower your interest rate.
b) Start with whichever card you’ve had the longest: Credit Card companies don’t want people leaving, especially people who have been active & loyal for more then 12 months.
c) Be persistent: Call multiple times and speak with multiple reps.
d) Always be polite: Most Credit Card representatives are dealing with people that are stressed out, pissed off, and generally not easy to deal with. When being overly polite the representative is going to be more willing to want to keep you on the phone and help you in anyway he/she can.