[Mary]

I have several credit cards. I didn't worry too much about the interest rates when I was able to pay off the balance in full each month. But over the past year there have been times when I carried a balance. Then the interest rates hurt. I read somewhere that the best thing to do is to call and ask for a supervisor and request a lower interest rate. I figured I had nothing to lose so I did just that. I was prepared to fight for it, but I didn't have to. They said they could lower my rate and they were going to backdate the rate to apply to the previous month. They also invited me to call again in a few months to request another change. Now I wish I'd done it sooner.

[MissBudgetWise]

I did that one time myself. I only had one card and things had gotten really bad and I was going to fall behind soon. So, I called and asked if I could lower the rates and they did just that. I actually went ahead and closed the account and we set up a payment plan with the (very) low interest rate and I was able to pay it off without any problems.

[MissPriss]

I make a habit of calling my credit card company once a year to see if I'm getting the lowest possible interest rate they have. A few times I've been rewarded once they check my history. I carry a line of credit, too, because the interest on it is deductible. I use this for house repairs and renovations and big items. They will often reduce the interest rate, depending on the overall market. If you don't ask, you don't get it.

[CheapChica]

Wow, I had no idea you could do this! I think I might try it with my two credit cards. Good thing I always pay them in full each month, or never miss a payment because I imagine that is why your company lowered your interest rate.

[KDUB777]

Thank you for reminding me to do this again. The first time I did it I was able to get 6 months with no interest on purchases balance, thing was I was a bone head and had a cash advance balance, but I will be calling them again tomorrow in hopes of getting the same deal or similar.