How do I lower my credit card interest rate?

If you currently carry a balance on your card and want to avoid incurring more debt, lowering the interest rate on your card can help. But how do you lower your credit card interest rate without switching cards? You can negotiate with your bank or credit card company to get a lower interest rate on your card.

How do I negotiate a lower interest rate on my credit card?

Most cards have a variable interest rate, meaning it can fluctuate based on several factors, including your card issuer's discretion. You can negotiate a lower interest rate on your credit card by calling your credit card issuer—particularly the issuer of the account you've had the longest—and requesting a reduction.

Should I ask my credit card issuer for a lower interest rate?

If you want to ask your credit card issuer for a lower interest rate, gather info about your credit score, payment history and competing credit card offers before you call. If your credit card issuer won’t lower your rate, consider asking for a temporary reduction or other benefits before looking for other lower-interest options.