Low Rate Credit Cards-bargaining for a lower rate

You have the best chance of getting low rate credit cards if your credit is good. You can even ask the card company to lower your rate. Just call and ask. In a survey, over half said they got a lower rate just by asking. If you already have a credit card, you can look at the back of the card and dial the 800 number for customer relations.. Your speech can be like this

Hi, I'm (your name). I'm a customer who always pays on time. I have gotten offers in the mail from other companies with lower rates. I'd like a lower rate on my card or I will cancel my account with you and go to another company.

Tell them about your good credit history and any other pertinent details. Assert that you will change companies if your rate is not lowered. Ask for a supervisor if the customer relations person is unsatisfactory. Don't give up after one call.. Call again another day. You may get a better customer relations person. You may even get someone whose job it is to keep customers from leaving.

You might have to negotiate the rate. The employee may say the rate will go up after time. Don't let that throw you. Keep saying you will change companies if the rate isn't lower. The credit card industry is really competitive, and they want your business. If the company is stubborn, you should look for another company..

However low rate credit cards will probably not have rewards such as frequent flier miles. If the rate is really low, there might be a high annual fee or some other fee. Zero percent offers may be temporary or only apply to new purchases, not the transferred balance. Despite the possible limitations, low rate credit cards can save you money in the long run.