Get a lower interest rate on your card

Upset at your credit card interest rate? The no harm in trying attitude could get you a lower rate.

First be aware of your current interest rate on your credit card balance. Then check out other cards for their rates. Some things to check on are 0 % balance transfers and 0 annual fees. There are independent credit card databanks that can help you out with this online.

Armed with this information, give your current credit card company a call and ask for a specific lower rate. Tell them you are considering cancelling this card. If you don’t hear the right answers, ask for a supervisor, who might have the power to change your rate. If no luck there, tell them you would like to stop using the card and ask to be transferred to the cancellation department. Once there, mention that you would like to stop using the card and see if they offer you a better rate to keep your business.

No deal? Then tell them you have changed your mind about cancelling but have decided to just stop using it. Cancelling might hurt that all important credit rating. Just stop using it and go with the company that comes through with the best rate. Again, there’s no harm in trying.