Just saw a segment on CBC News (Canada), The National, where they stopped shoppers and asked them to call their credit card company and tell them you want your rate lowered. Over 50% of these compliant shoppers were successfully getting an immediate response and a rate reduction of 8 points, say 19% to 11% in one example.
Almost makes me wish I had a credit card.
That’s cool. I’ll never use it, but it’s still cool.
When you pay off the credit card in full each month, like I do, the rate really doesn’t matter.
That’s what I do (or try to, at worst it gats paid over two months but that is rare).
If it ever goes more then I’d be calling and asking.
Kevin Tredeau charges 30 bucks for this info in his new debt reduction book, and you give it away for free? 
I’ve actually tried that before and had it to not work.
It’s worth it to give it a whirl, I suppose.
I did this years ago with one of my first credit cards. I had something like a 13% rate with an annual fee. I called and asked and they removed the fee and dropped my interest to 8%. They also increased my credit limit. It really is quite easy and takes like 3 minutes.
Credit companies will also reverse late fees and charges if you’re a decent customer. A couple months back, my husband managed to withdraw the 900$ he owed on his credit card rather than pay it (his bill was 900$, he went to pay it online, and somehow charged 900$ instead, so he got hit with interest and a bill for 1800 the next month!)
He paid the balance, but called the company, pointed out that it was clearly a stupid mistake, and they simply refunded the interest amount. It took him about 10 minutes (including being on hold!)
I did this last month when I got a special no-interest rate for 12months w/another company. I did the balance transfers, called the other companty to close & they lowered my rate to match the other company (except the balance transfer 0%). Now I have them for a “just incase emergency”.
PS It was dropped by 10pts, I was happy!
Wow - when you call them, apparently you become a better credit risk. After all, this is the antithesis of the reasoning the card companies have been giving for arbitrarily raising rates on people, isn’t it?