The Credit Fix: How to lower your interest rate - WMC Action News 5 - Memphis, Tennessee

The Credit Fix: How to lower your interest rate

Using a credit card can be quick and convenient, but it can also be costly.

According to, a company that tracks credit card use, the average American credit card holder owes nearly $10,000.

Most people can't come close to paying off that much dept.  So what happens?  Even if a cardholder puts the car away, interest and late charges can quickly add up, digging the person into an even deeper financial hole.

Armed with a proper script, credit card holders can often lower their credit card interest rates.  If you are a good customer, and you are persistent, there's a good change your credit card company will give you a break.

Studies show 55% of credit card companies will lower your interest rate if you call and ask.

Here is a sample script to try:


My name is _______.

I'm a good customer, but I've received several offers in the mail from other companies with lower annual percentage rages.

I really want a lower rate on my card with your company. Can you help me?

  • If the answer is no, ask to speak to a supervisor.
  • If the answer is still no, ask to speak to another supervisor.
  • Also,  don't be shy about letting the company know you would consider closing the account unless they can lower your rate.

For more information on lowering your credit card interest rate…or if you need help managing your credit, here are a couple of resources that will help you:

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