If you are dissatisfied with your credit card interest rate, please send us an APR Known, you can secure a lower APR simply by contacting your credit card issuer. I may decline the request, but it's okay to ask. Take advantage of this information if you have established a history of timely payments and other responsible behavior with issuers.

A lower interest rate means you pay less interest over time. Worth asking. 0% p.a. credit cards may be available for a limited period of time, but usually you need good or good credit to receive these types of benefits.

If you are considering whether his APR for a credit card is right for you, consider the following. Currently, the average interest rate on credit cards is over 19%. If you have a credit card with an APR much higher than the national average, aim for a lower rate when you're ready to start negotiating.

Competitive Find Credit Card Offers

Credit card companies don't want to lose your business. As such, it must remain competitive with other card issuers. Find similar credit cards and compare interest rates. If you find a similar card with better APR, make a note of it and be sure to share that information when you call your card issuer.

Make sure your offer is actually competitive. For example, if you have a low credit score, it doesn't make sense to compare his APR on his credit card with his APR on a card that needs good credit.

To the card issuer Call and ask

First, try contacting your credit card issuer directly and asking them to lower your interest rate. It's important to be prepared to know exactly what your publisher needs. Know your current credit card terms (April, grace period, statement due date, current balance) and use this knowledge to uncover what you've discovered when researching competing lenders. You know what they say — there's nothing wrong with asking.

Also, if you were able to find a better offer from another publisher, pass that information on to the person in charge. They may be more willing to negotiate if you make it clear that you're looking to move your business elsewhere. The issuer may cut interest rates just to keep the business going. The worst it can say is “no”. Also, remember that account lifetime means something in this business. If you have been banking with the issuer for any significant amount of time, make that known in the negotiation process.

Still out of luck? You can also try the HUCA method. HUCA stands for “hang up and call again” and as the name suggests, if you don't like the initial response you receive, you should hang up and try again. A second (or her third) customer, her service representative, may be more responsive to your request than the first.

Improve your credit score Yes

Whether you're applying for a new credit card or trying to negotiate a lower annual interest rate on your current credit card, a surefire way to earn better interest rates is to take some steps to improve your credit score. . One of the easiest ways to improve your credit rating is to pay your credit card bills early or on time each month.

Also, refrain from opening too many new accounts. This leads to multiple difficult investigations on credit reports. Also, account closure may increase the use of credit. Both moves, along with other factors, can negatively impact your credit score.

If you have a lot of debt compared to your credit limit, paying off your debt can also improve your credit score. Most experts recommend keeping your credit utilization below 30% for best results. This means keeping your revolving balance at or below $3,000 for every $10,000 total credits you have.

If denied, apply for balance transfer card Please

One way to reduce the interest you pay for a limited time is to apply for a balance transfer credit card. In most cases, you can secure a 0% first-year APR on transferred balances for 12 to 21 months. Please note that these offers typically include a balance transfer fee, so you won't get access to 0% APR for free. However, applying for a balance transfer credit card is a great option to consolidate your debt without further damage to your credit.

For example, with a top balance transfer card like the Wells Fargo Reflect® Card, you can get 0% referral APR for up to 21 months. This is one of the longest offers for purchases and eligible balance transfers currently available. Wells Fargo Reflect offers an introductory APR of 0% for 18 months from account opening and qualifying balance transfer at the time of purchase, but cardholders making minimum monthly payments during the introductory period will The zero interest period is extended three times.

Please note that the standard 3% intro balance transfer fee ($5 minimum) applies to balance transfers made within the first 120 days (5% or 5 dollar). after the first 120 days). To determine if a balance transfer can actually save you money, consider using our balance transfer calculator.

Conclusion

There is one proven way to avoid credit card interest. completely. If you buy only what you can pay off and pay your credit card bills in full each month, you won't be charged a single penny of interest.

Debt, you want the lowest possible interest rate. Securing a lower interest rate may be as simple as asking your current credit card issuer to lower your APR, but otherwise you'll have to put your balance on a new credit card with an APR of 0%. Sometimes it makes sense to migrate.