Discussions

O.K., I did not know this but wanted to share it....because if i was this naieve then there must be others out there who might find this information useful as well. (I give Oprah all the credit for this one).  
 
You can reduce your Credit card interest rate with one phone call.  
 
It can't hurt to ask. Why are card issuers so willing to cut interest rates for so many of their customers?  
Answer: Competition  
 
If you're a good customer, a card company is going to want to hang on to you.  
 
Here is what you need to say:  
 
Hi, my name is [Your Name]. I am a good customer, but I have received several offers in the mail from other credit card companies with lower APRs. I want a lower rate on my card, or I will cancel my card and switch companies.  
 
I had my interest rate lowered on one of my cards from 19.5% to 10.5% just using this method!  
 
I'd like to hear from others on this topic.