- 1). Gather together the most recent credit card statement and check the current interest rate. Determine the desired interest rate with a ballpark figure or by comparing the current rate to recent offers received from other companies.
- 2). Call the customer service phone number for the credit card company, which is generally located on the back of the credit card. Use the automated service options to direct the call to an operator or customer service representative.
- 3). Ask the representative to consider lowering the interest rate on your card. One way to phrase that might be, "how can you help me out?" Remain polite throughout the conversation since you are asking the company to provide a service they are not required to grant to each customer.
- 4). Mention to the customer service representative that you are accurate and timely with payments, which may influence the company to lower your rate.
- 5). If the company will not lower the interest rate, politely ask them to indicate why the interest rate decrease was denied. Furthermore, ask the representative what you will need to do over the course of the next few months to qualify for a lower interest rate.
- 6). Make monthly payments in an accurate and timely manner. This will help avoid interest rate increases and provide evidence to the credit card company that you are a qualified candidate for a lower interest rate.
- 7). Call the company back several months later to make the same request, even if you were granted an interest rate decrease during your first attempt. If you have continued to show on time and accurate payments, you may qualify for an even lower rate.
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