Finding a credit card with a low interest rate can save you hundreds—or even thousands—of dollars in interest over time. Whether you’re looking to carry a balance, pay off existing debt, or simply want a credit card that won’t charge you excessive interest, a low-APR card is a must-have. Porpular
Many major credit card issuers offer lower interest rates to customers with strong credit histories.
Some companies also allow you to request an APR reduction if you’ve been a responsible cardholder. Knowing which banks are open to lowering interest rates can help you save money in the long run.
In this detailed guide, we’ll cover:
✅ The top 10 credit card issuers that may lower your APR upon request
✅ How to ask for a lower interest rate successfully
✅ Key factors that influence your eligibility for an APR reduction
✅ Additional strategies to reduce your credit card interest payments
By the end, you’ll have a clear understanding of which credit card companies are open to lowering rates and how you can improve your chances of securing a reduced APR.
Why Lowering Your Credit Card Interest Rate Matters
Credit card interest rates, also known as the annual percentage rate (APR), can significantly impact how much you pay on outstanding balances. A small reduction in APR can save you hundreds—if not thousands—of dollars in interest charges over time.
🔹 For example: If you have a $5,000 balance on a credit card with a 24% APR and only make minimum payments, you could end up paying more than $6,000 in interest before you clear your debt. Lowering your APR to 15% could reduce that amount dramatically.
If you frequently carry a balance, securing a lower APR can make a significant difference in your financial well-being.
What Are Low-Interest Credit Cards?
Low-interest credit cards are designed for people who want to minimize the cost of borrowing. These cards typically offer:
🔹 Lower-than-average APRs – Some cards provide APRs as low as 10%-15%, while others offer 0% introductory APRs for a limited time.
🔹 No or low penalty APRs – If you make a late payment, some low-interest cards won’t drastically increase your APR.
🔹 Balance transfer benefits – Many low-APR credit cards allow you to transfer high-interest debt and pay it off at a reduced rate.
Unlike rewards or cashback credit cards, low-interest credit cards prioritize financial flexibility over perks, making them a great choice for those who may carry a balance from month to month.
Top 10 Credit Card Companies Open to Lowering Interest Rates
High interest rates can make carrying a credit card balance expensive, but did you know that some credit card companies may lower your APR upon request? Many issuers are willing to adjust interest rates for loyal customers, particularly those with a strong payment history. Based on customer experiences, industry trends, and issuer policies, these ten credit card companies or issuers have been known to consider APR reduction requests.
Here are the top 10 credit card companies that have been known to consider APR reduction requests:
1. American Express – Best for Loyal Customers
American Express values long-term customer relationships. If you’ve been a responsible cardholder with a history of on-time payments, you may qualify for a lower APR.
Why It’s Great:
American Express values customer loyalty and may adjust interest rates for long-term clients with a strong payment history. Many Amex credit cards offer competitive APRs and other benefits, such as rewards and travel perks.
Features:
✔ Introductory 0% APR offers on select cards
✔ Membership Rewards points on eligible purchases
✔ No foreign transaction fees on travel cards
✔ Purchase protection and extended warranties
🔹 How to Request a Lower APR:
📞 Call Amex customer service and request an APR review.
📌 Emphasize your long-standing relationship, consistent payments, and improved credit score.
Amex may offer a temporary reduction or a permanent lower APR, depending on your credit profile.
2. Bank of America – Best for Competitive APR Offers
Bank of America is known for offering competitive interest rates and is often open to reducing APRs for eligible customers.
Why It’s Great:
Bank of America offers various low-interest credit cards and may reduce APRs for eligible customers, especially those with high credit scores or long banking relationships.
Features:
✔ 0% introductory APR on balance transfers and purchases (select cards)
✔ Preferred Rewards program for extra cashback and benefits
✔ Free FICO® score monitoring
✔ Low ongoing APR options
🔹 How to Request a Lower APR:
📞 Call the customer service number on the back of your card.
📌 Highlight better offers from competitors or mention an improvement in your credit score.
Having a competing offer from another bank can strengthen your case.
3. Capital One – Best for Flexible Customer Policies
Capital One has built a reputation for being customer-friendly. If you have a good payment history, they may consider reducing your APR.
Why It’s Great:
Capital One is known for its customer-friendly policies and may consider APR reductions upon request. It offers competitive APRs and a variety of rewards cards.
Features:
✔ No foreign transaction fees on most cards
✔ 0% intro APR on balance transfers and purchases (select cards)
✔ Free credit score monitoring with CreditWise
✔ Travel and purchase protections
🔹 How to Request a Lower APR:
📞 Contact customer support and ask about an APR reduction.
📌 Mention any competing low-APR offers and your responsible credit behavior.
Capital One may offer a reduced interest rate or a promotional 0% APR period.
4. Chase – Best for Strong Credit Profiles
Chase is known for offering APR reductions to customers with solid payment histories and strong credit scores.
Why It’s Great:
Chase may lower interest rates for customers who demonstrate financial responsibility and have a strong account history. Chase cards are known for their excellent rewards and perks.
Features:
✔ 0% intro APR on balance transfers and purchases (select cards)
✔ High-value cashback and travel rewards programs
✔ Complimentary purchase protection and extended warranties
✔ No annual fees on several cards
🔹 How to Request a Lower APR:
📞 Call Chase customer service and explain your request.
📌 Provide evidence of your excellent payment history and competing offers.
Having a high credit score (700+) increases your chances of approval.
5. Citi – Best for Balance Transfer Benefits
Citi offers several low-interest credit cards and may lower your existing card’s APR if you qualify.
Why It’s Great:
Citi offers several low-interest credit cards and may adjust APRs for qualifying customers. Citi is known for its balance transfer cards with long 0% APR periods.
Features:
✔ Long 0% intro APR on purchases and balance transfers
✔ No late fees on select cards (Citi Simplicity®)
✔ Fraud protection and virtual card numbers for online shopping
✔ Access to Citi Entertainment deals and pre-sales
🔹 How to Request a Lower APR:
📞 Call Citi’s customer service and request an APR review.
📌 Mention any lower APR offers from other banks or discuss your financial responsibility.
Citi may also offer a balance transfer option if a lower APR isn’t available.
6. Discover – Best for Rewarding Responsible Borrowers
Discover is open to negotiating interest rates, especially for customers with a strong track record of on-time payments.
Why It’s Great:
Discover is open to negotiating interest rates, especially for customers with a history of on-time payments. It also offers cashback rewards and no annual fees.
Features:
✔ 0% intro APR on purchases and balance transfers (select cards)
✔ Cashback Match for first-year earnings
✔ Free FICO® score tracking
✔ No annual or foreign transaction fees
🔹 How to Request a Lower APR:
📞 Call Discover’s customer support team and ask for an APR reduction.
📌 Highlight your consistent payments and long-term relationship with the company.
Discover is more likely to grant a reduction if you have been a customer for multiple years.
7. Wells Fargo – Best for Long-Term Customers
Wells Fargo is known to consider APR reduction requests, particularly for customers with an extended history of responsible credit usage.
Why It’s Great:
Wells Fargo may consider APR reduction requests from customers who have shown consistent financial responsibility. It also offers strong balance transfer options.
Features:
✔ Long 0% intro APR on purchases and balance transfers
✔ Cash rewards and travel benefits on select cards
✔ No annual fee on many cards
✔ Access to Wells Fargo’s My Money Map for budgeting
🔹 How to Request a Lower APR:
📞 Contact Wells Fargo customer service and ask about available APR reductions.
📌 Provide details about your positive payment history and credit score improvements.
If you have multiple accounts with Wells Fargo, it may strengthen your request.
8. U.S. Bank – Best for Competitive APR Reductions
U.S. Bank frequently offers competitive interest rates and may lower your APR upon request.
Why It’s Great:
U.S. Bank offers competitive interest rates and may lower APRs for eligible customers upon request. It provides strong rewards and business credit card options.
Features:
✔ 0% intro APR for up to 21 months (U.S. Bank Visa® Platinum)
✔ Low ongoing APRs for qualified applicants
✔ No annual fees on many cards
✔ Travel and shopping protections
🔹 How to Request a Lower APR:
📞 Call the customer service line and request an interest rate review.
📌 Present your case with evidence of responsible borrowing behavior.
Customers with credit scores above 700 have the best chance of securing a lower APR.
9. Barclays – Best for Long-Standing Relationships
Barclays may lower interest rates for customers who have maintained a good payment history and strong relationship with the bank.
Why It’s Great:
Barclays may adjust interest rates for customers who have maintained a good relationship and payment record. It’s known for offering branded travel and airline cards.
Features:
✔ 0% intro APR on purchases and balance transfers
✔ Travel rewards with airline and hotel partnerships
✔ Complimentary access to FICO® scores
✔ No foreign transaction fees on select cards
🔹 How to Request a Lower APR:
📞 Contact Barclays customer support and inquire about an APR reduction.
📌 Emphasize your loyalty and mention any competing offers you’ve received.
Barclays may offer a temporary APR reduction or a permanent lower rate.
10. PNC Bank – Best for Personalized APR Adjustments
PNC Bank is known to consider APR reduction requests from customers demonstrating financial responsibility.
Why It’s Great:
PNC Bank is known to consider APR reduction requests from customers demonstrating financial responsibility. It also offers competitive balance transfer promotions.
Features:
✔ 0% intro APR on balance transfers and purchases
✔ Low ongoing APRs for those who qualify
✔ No annual fees on several cards
✔ Security features like fraud monitoring and zero liability protection
🔹 How to Request a Lower APR:
📞 Call PNC’s customer service line and ask about APR reduction options.
📌 Highlight your good payment history and any lower interest rate offers from competitors.
A higher credit score and a long-standing account can improve your chances.
How to Successfully Request a Lower APR
Even if your credit card issuer is open to lowering APRs, it’s important to approach the request strategically. Here’s how:
✅ Be polite and professional: Customer service agents have the power to grant or deny your request—kindness goes a long way.
✅ Highlight your strong credit history: If you’ve made on-time payments for a year or more, emphasize this.
✅ Mention competitor offers: If you’ve received a lower APR offer from another bank, let them know.
✅ Ask for a supervisor if needed: If the first representative declines, politely ask if a manager can review your request.
✅ Be prepared to negotiate: If they won’t lower your APR permanently, ask for a temporary reduction.
Other Ways to Reduce Credit Card Interest
If your credit card company won’t lower your APR, consider these alternatives:
🔹 Apply for a balance transfer card: Transfer your high-interest balance to a card with a 0% intro APR.
🔹 Increase your monthly payments: Paying more than the minimum reduces the total interest you pay.
🔹 Improve your credit score: A higher credit score can help you qualify for better rates.
🔹 Consolidate debt with a personal loan: A fixed-rate personal loan can offer lower interest than your credit card.
Final Thoughts
Lowering your credit card interest rate can save you a substantial amount of money over time. The 10 credit card companies listed above are known to consider APR reductions, especially for responsible borrowers.
💳 Key Takeaways:
✔ Best for loyalty rewards: American Express
✔ Best for low ongoing APRs: Bank of America & Citi
✔ Best for balance transfers: Chase & U.S. Bank
✔ Best for customer service flexibility: Capital One & Discover
By understanding your options and negotiating effectively, you can take control of your finances and reduce unnecessary interest payments. 🚀
Also Check:
- How Do I Request a Decrease in My Credit Card Interest Rate?
- Can You Call a Credit Card Company and Ask Them to Lower Your Interest…
- Will Credit Card Companies Lower Your Interest Rate If You Ask?
