Has anyone had any success with getting credit card interest rates lowered?

Question

I heard that you can call and get your interest rates lowered if you ask from your credit card agencies. I also heard that it is not possible. So I was just wondering if anyone had any success with this and if so, did you have to be aggressive? Thanks for any answers in advance.

Answer 1

You can ask but don't be surprised if they say no.   It really depends on which credit card and what kind of history you have.   You would have better luck if you tell them you have an offer for a much lower rate and are considering that new card.

I've always found that paying off the account is the fastest way to get all sorts of low interest rate offers.

Answer 2

If you have an excellent payment record, it may work.  If not, it won't.

Answer 3

I had a card renewal, and noticed that they had started an annual fee.  I call the company.  I asked if it was an error.  They said no, and that I was to have been charged a fee previously.  I said that my credit is excellent. so I will just go elsewhere.  They immediately dropped the annual fee.

Answer 4

Yes!! It certainly is possible especially if you have been paying your bill on time. Call the credit card company and ask. It can't hurt. They may refuse but make sure to ask them why they won't. It may be something you can change to make sure the next time you request a lower rate they will say yes. Good Luck.