Money Tips Network

This is something that’s well worth doing if you have consistently carried a credit card balance in the past and have never requested a rate reduction. It takes a bit of time (about an hour for a small pile of cards), but it can really save you some serious money in the long run. It’s pretty easy, too, as long as you’re willing to be a bit forceful over the telephone.

Simple Steps to Reduce Your Credit Card Interest Rate
1. Get out every credit card that you’ve carried a balance on in the last year

By “carry a balance” I mean you’ve not paid it off entirely and let the balance carry forward, earning interest. If you haven’t carried a balance in a while, the chance that they’ll reduce your rate is much lower because you’re not a client that makes them money.