# Lower Your Credit Card Rate !!!! **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [March 7, 2008, 7:29am UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422 "2008-03-07T07:29:53Z")\ **Posts on this page:** 10\ **Page:** 1
**Author:** ![The\_Flying\_Dutchman](https://avatars.discourse-cdn.com/v4/letter/t/9fc348/32.png) [@The\_Flying\_Dutchman](https://boards.straightdope.com/u/The_Flying_Dutchman)\ **Post date:** [March 7, 2008, 7:29am UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/1 "2008-03-07T07:29:53Z")
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. ---
**Author:** ![Barbarian](https://avatars.discourse-cdn.com/v4/letter/b/e19adc/32.png) [@Barbarian](https://boards.straightdope.com/u/Barbarian)\ **Post date:** [March 7, 2008, 5:17pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/2 "2008-03-07T17:17:53Z")
That’s cool. I’ll never use it, but it’s still cool. ---
**Author:** ![RealityChuck](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/realitychuck/32/195_2.png) [@RealityChuck](https://boards.straightdope.com/u/RealityChuck)\ **Post date:** [March 7, 2008, 5:22pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/3 "2008-03-07T17:22:09Z")
When you pay off the credit card in full each month, like I do, the rate really doesn’t matter. ---
**Author:** ![Flutterby](https://avatars.discourse-cdn.com/v4/letter/f/6f9a4e/32.png) [@Flutterby](https://boards.straightdope.com/u/Flutterby)\ **Post date:** [March 7, 2008, 5:27pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/4 "2008-03-07T17:27:12Z")
[QUOTE=RealityChuck] When you pay off the credit card in full each month, like I do, the rate really doesn’t matter. [/QUOTE] 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. ---
**Author:** ![Wee\_Bairn](https://avatars.discourse-cdn.com/v4/letter/w/90db22/32.png) [@Wee\_Bairn](https://boards.straightdope.com/u/Wee_Bairn)\ **Post date:** [March 7, 2008, 5:33pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/5 "2008-03-07T17:33:39Z")
Kevin Tredeau charges 30 bucks for this info in his new debt reduction book, and you give it away for free? 🙂 ---
**Author:** ![NinetyWt](https://avatars.discourse-cdn.com/v4/letter/n/cc9497/32.png) [@NinetyWt](https://boards.straightdope.com/u/NinetyWt)\ **Post date:** [March 7, 2008, 5:41pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/6 "2008-03-07T17:41:07Z")
I’ve actually tried that before and had it to not work. It’s worth it to give it a whirl, I suppose. ---
**Author:** ![Antinor01](https://avatars.discourse-cdn.com/v4/letter/a/ecae2f/32.png) [@Antinor01](https://boards.straightdope.com/u/Antinor01)\ **Post date:** [March 7, 2008, 5:41pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/7 "2008-03-07T17:41:09Z")
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. ---
**Author:** ![mnemosyne](https://avatars.discourse-cdn.com/v4/letter/m/c4cdca/32.png) [@mnemosyne](https://boards.straightdope.com/u/mnemosyne)\ **Post date:** [March 7, 2008, 8:08pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/8 "2008-03-07T20:08:48Z")
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!) ---
**Author:** ![Pixilated](https://avatars.discourse-cdn.com/v4/letter/p/aeb1de/32.png) [@Pixilated](https://boards.straightdope.com/u/Pixilated)\ **Post date:** [March 7, 2008, 8:34pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/9 "2008-03-07T20:34:09Z")
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! ---
**Author:** ![ASAKMOTSD](https://avatars.discourse-cdn.com/v4/letter/a/919ad9/32.png) [@ASAKMOTSD](https://boards.straightdope.com/u/ASAKMOTSD)\ **Post date:** [March 7, 2008, 8:37pm UTC](https://boards.straightdope.com/t/lower-your-credit-card-rate/440422/10 "2008-03-07T20:37:20Z")
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?