How Can I Reduce My Credit Card Interest Rate

It is no secret that the annual percentage rate on a credit card account is the way the bank issuing the credit card account makes their cash from loaning through that card. The higher the annual percentage rate on a credit card account, the more cash the bank will make when consumers borrow cash using their plastic! However, this means that the higher the annual percentage rate is, the more it costs for people to borrow cash using their charge card accounts. With that said, many consumers want to reduce their credit card annual percentage rates. Feeling as though they are being taken advantage of, many Americans don't agree with the amount of money they have to pay to borrow!

The sad part about this is that Americans think of banks as corporations that could care less about their customers when in all actuality this is not the case. As a matter of fact, the credit card account industry is an extremely competitive one that requires high customer satisfaction ratings to survive. Therefore, if banks really didn't care about their customers well, they wouldn't last too long. With that said, it is 100% possible to negotiate APRs with charge card account companies. The key is being a good customer to have!

This will be much easier for Americans who consistently pay their credit card bills on time. However, this will also prove to be almost impossible for the consumers who have not been to current with their credit card payments. With that said, if you are not currently sending in more than the minimum payment at least 2 weeks early each month, that is where you should start! people who get their account in a good standing have a much better chance of successful negotiation!

Now that the credit card accounts are in good standings, it is time to make the call. The key is starting by calling the credit card company that issues the customers highest annual percentage rate. Therefore, people should call their highest APR credit card account issuer! When the call is first made, people will be required to navigate through the automated system to get to a live account representative in most cases. Once the consumers get to speak with a live account representative, they should start by saying:

“Hi, I'm calling because I was looking over my charge card account statements and noticed that this was by far my highest APR. To be honest, I love the bank and the rewards you guys offer me but I can't see myself paying this much to borrow cash anymore. Is there anything that you can do to help me reduce this interest rate?”

At this point, the customer service representative will place the consumers on hold and see if the account is in good standings. In most cases, if the charge card is in good standings, the account representative will let the consumers know that they do qualify for a low annual percentage rate and either they will be able to put that into affect for them or they will need to transfer the Americans to another department.

Unfortunately, there are some banks that hold stiff to their annual percentage rates. These however are the banks that tend to have lower customer satisfaction rates anyway. For the Americans that are dealing with non negotiable high annual percentage rates, I would suggest looking at a few balance transfer charge cards. Below, I will give links to a few websites that can help!

This article was written by Joshua Rodriguez and is brought to you by:
JEMCreditCards.com: The Discover Cards,American Express Charge Cards
The-Card-Mart.com: Card Mart
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