If you’re carrying a balance on your credit card, high interest rates can cost you hundreds or even thousands of dollars over time. But did you know that you can call your credit card company and ask them to lower your interest rate?
Many credit card issuers are willing to negotiate lower APRs (Annual Percentage Rates)—but only if you ask. In fact, according to a CreditCards.com survey, nearly 70% of people who asked for a lower interest rate were successful.
So, how do you go about it? What’s the best way to increase your chances of getting a lower APR? This guide will cover everything you need to know.
📌 In This Guide, You’ll Learn:
✔ Can you call a credit card company and ask them to lower your interest rate?
✔ The best way to negotiate a lower APR
✔ Factors that impact whether your request will be approved
✔ Alternative ways to lower your credit card interest
✔ Mistakes to avoid when requesting a lower rate
By the end, you’ll have a step-by-step strategy to save money and pay off your credit card debt faster.
✅ Can You Call a Credit Card Company and Ask Them to Lower Your Interest Rate?
Yes! You can call your credit card company and ask for a lower interest rate, and in many cases, they will agree—especially if you have a good credit history and are a loyal customer.
But why would a credit card issuer reduce your interest rate?
🔹 They want to keep you as a customer – If you’re a reliable borrower, they’d rather keep you than lose you to another lender.
🔹 They fear you might transfer your balance – If you threaten to move your debt to a 0% APR balance transfer card, they may lower your rate.
🔹 They reward responsible customers – If you have a good credit score and a solid payment history, you’re in a strong position to negotiate.
Many credit card issuers won’t automatically lower your APR, so you need to take the first step and ask.
📞 How to Call and Ask for a Lower Interest Rate
If you want your credit card company to lower your APR, follow these six simple steps to maximize your chances of success.
✅ Step 1: Find Out Your Current Interest Rate
Before you call, check your current APR so you know what you’re working with.
🔹 Log into your credit card account online
🔹 Check your latest statement
🔹 Look under “Interest Charges” or “APR”
Most credit cards have interest rates between 18% and 29%, but if yours is on the higher end, it’s definitely worth negotiating.
✅ Step 2: Review Your Credit Score and Payment History
Lenders are more likely to approve your request if:
✔ You have a credit score of 700+ (good or excellent credit)
✔ You always pay on time
✔ Your credit utilization is below 30%
✔ You’ve been a longtime customer
If your credit score is low, consider improving it before making the call.
✅ Step 3: Research Competitive APR Offers
Credit card issuers don’t want to lose you to competitors. Before you call, check:
✔ Other credit cards with lower APRs
✔ Balance transfer cards offering 0% interest for 12-21 months
✔ Your credit card issuer’s own promotional APR offers
If you have leverage, you’ll have a stronger case when negotiating.
✅ Step 4: Call Customer Service and Ask for a Lower Rate
Now it’s time to make the call.
✔ Dial the customer service number on the back of your credit card
✔ Ask to speak with a representative about lowering your APR
✔ Be polite, confident, and prepared
💬 Example Script:
“Hi, I’ve been a loyal customer for [X] years, and I always make my payments on time. I noticed my APR is [X]%, but I’ve seen other cards offering lower rates. Can you reduce my interest rate so I can continue using this card?”
Possible Outcomes:
✔ They lower your APR immediately – Congrats! Ask for written confirmation.
✔ They offer a temporary lower rate – This can still save you money.
✔ They say no – Ask for a supervisor or try again in a few months.
✅ Step 5: If Denied, Follow Up Later
If your request is denied, don’t give up. Try again later, especially if:
🔹 You’ve improved your credit score
🔹 You’ve paid off some of your debt
🔹 You’ve found a better offer from another card issuer
Persistence often pays off!
🔄 Other Ways to Lower Your Credit Card Interest Rate
If your credit card company won’t lower your APR, don’t worry—there are still ways to reduce the amount of interest you pay.
💳 1. Transfer Your Balance to a 0% APR Credit Card
A balance transfer card lets you move debt from a high-interest card to a 0% APR card for up to 21 months.
✔ Best Balance Transfer Cards for 2025:
- Citi Simplicity® Card – 0% APR for 21 months
- Wells Fargo Reflect® Card – 0% APR for 18 months
- Chase Slate Edge℠ – 0% APR for 12 months
⚠ Tip: Pay off the balance before the intro APR expires to avoid high interest charges.
🏦 2. Consolidate Debt with a Low-Interest Personal Loan
A personal loan can help you pay off high-interest credit card debt with lower interest rates (6-15%).
✔ Fixed monthly payments
✔ Can boost your credit score by reducing credit utilization
✔ Helps you get out of debt faster
💰 3. Pay More Than the Minimum Payment
Only making minimum payments keeps you in debt longer. Instead:
✔ Pay as much as possible each month
✔ Consider biweekly payments to reduce interest
✔ Always pay on time to avoid penalties
📈 4. Improve Your Credit Score
A higher credit score makes you eligible for better APR offers.
✔ Always pay bills on time
✔ Keep credit utilization below 30%
✔ Dispute credit report errors
❌ Mistakes to Avoid When Asking for a Lower Interest Rate
Many people hurt their chances of getting a lower APR by making these common mistakes:
❌ Not preparing before calling – Research your credit history and competitor rates first.
❌ Waiting too long to ask – If you’re struggling with high interest, ask ASAP.
❌ Only making minimum payments – Shows issuers you rely too much on credit.
❌ Threatening to cancel immediately – Issuers may call your bluff and close your account.
❌ Ignoring balance transfer fees – Some cards charge a 3-5% transfer fee.
🎯 Final Thoughts: Should You Call and Ask for a Lower Interest Rate?
Yes! Calling your credit card company to ask for a lower interest rate is one of the easiest ways to save money. While not guaranteed, many cardholders successfully negotiate lower rates just by asking.
💡 Key Takeaways:
✔ Most credit card companies will lower your APR if you ask
✔ Call and negotiate—be polite, prepared, and persistent
✔ If denied, try again later or consider a balance transfer
✔ Improve your credit score to qualify for lower APR offers
✔ Always pay more than the minimum to reduce interest charges
If you’ve never asked for a lower interest rate before, now is the time to do it. A simple phone call could save you hundreds or even thousands of dollars in interest. 💰🚀
👉 Have you successfully lowered your credit card APR? Share your experience in the comments below!
Also Check:
- Will Credit Card Companies Lower Your Interest Rate If You Ask?
- How to Lower the Interest Rate on a Credit Card
- How to Compare Credit Card Interest Rates Effectively
