January 10th, 2008 
NCN
If you are trying to get out of credit card debt, you might want to think about giving your credit card company a call. Why?
If you have a high interest rate, you can ask them to charge you a lower rate…
If you have been charged a late fee, you can ask them to waive it…
If you are over your limit, you can ask them to increase it…
If you want to consolidate balances, you can ask them to waive balance transfer fees…
If you decide to call, be patient, be polite, get first names, and be persistent.
When I was getting out of debt, I called each credit card company once a month and I asked them to lower my rates. Over a 10 month period, my rates were lowered on three different occasions.
One quick note – If you are averse to confrontation – if you struggle when talking to people – simply ‘work’ your way through the conversation -confidently.
Put your emotions to the side.
Avoid sounding desperate.
Let them know that you are thinking about taking your business to another company.
Never be intimidated.
Remember, the number on the back of the card is toll-free. Shoot, even if they don’t change your rate, at least they have to pay for the phone call. 
(Before you leave a comment reminding me that the credit card company will pass that phone charge on to their customers – I know, I know. I’m making a joke.)
Getting out of debt rocks! Now, go make those phone calls!!!
Posted in 
Not with CITI, they don’t care, they will not lower my rate, I’ve tried everything… maybe because I pay my bill every month… who knows.
I am currently working up the courage to make my calls. I am phone phobic when I have to make a call to someone I don’t know. I’m hoping to get my rates down with my calls.
I am currently debt free except for my home; but at one time that was not the case. I have had success in contacting my (former) credit card companies (don’t use them any more).
Another thing to consider asking for is to move the due date. Doing this could help your budget work better, depending on when you get paid.
Jay
Indeed, even if you don’t like confrontation, this is still a great idea. The absolute worst case is that you wind up in the same exact position as if you never bothered to pick up the phone.
And remember, the person on the other end of the phone doesn’t enjoy confrontation any more than you do. Make him/her your partner in this process and you will both get what you need.
Nine times out of ten when we have people in our financial counseling session call the credit card company they get a better rate.
[...] while the best is that you pay less in credit card interest. NCN over at No Credit Needed said he called the credit card companies to ask for lower interest rates every single month when he was getting out of debt…and it worked! And I don’t think there is anyone who [...]
Hopefully calling my credit card company(ies)asking for lower rates become my last kind of contact with them. I will not use it anymore once I get out from my debts.
Some credit card companies will not give you lower rates, but you will not know that if you do not try to ask. Be confident on your calls. Do not let them intimidate you.
[...] Time to Call the Credit Card Company – Really, this works. If you have a high interest rate or are having trouble making payments, simply give them a call. Of course if you are a habitually late and have a poor track record with them, you probably won’t get very far, but you may have luck if you are a relatively good customer. [...]
My Dad has an Amex charge (not credit) card and missed the payment date by two days over the Christmas period. I suggested he ring up and explain it was an oversight, point out that he otherwise always pays his bills on time and politely request them to remit the late fee of $140. And you know what? They did!
My father, business-savvy though he is, commented he wouldn’t have thought of doing that and was very chuffed about the whole thing!
[...] No Credit Needed says to call your credit card company and ask them to lower your interest rate, even if you have to call them every month until it happens. [...]
[...] NCN shares some tips when calling the credit card company. [...]
[...] Credit Needed: NCN has some suggestions about how you should handle your credit card company when you’ve got them on the [...]
I fully agree. Call, call, call! The worst they can say is no and all you’ve lost is some breath and a couple minutes of time; if they do lower your rates you’ve made out like a bandit!
-
Ryan
http://uncommon-cents.net/
I’m calling tomorrow!
Thanks for the nudge!
Great tips ,
Love it
thank you
Tracy Ho
wisdomgettingloaded
I’ve done this numerous times. I had three cards. One was at 9.9% and two were at well over 20%. I tend to pay off cards immediately, so I didn’t care too much. But I decided to call them up and politely demand that they lower the rates. They basically said I didn’t do enough business with the bank to justify it. I followed up twice, restating my demand. They said no twice more. Then I got an email saying they’d lower my rate to 9.9% on both cards, but that the cash-advance rate would remain very high.
In other words, I got what I wanted.
Bottom line: it may take a try or two, but you can get there.
I myself got into a bit of trouble with owing people money, i called round debt companies
for free advice and what they thought my best option would be. I ended up goin with
goodbye2debt in the end and they gave me good advice on what to do-its bit of a mind feild
out there!
The number on the back is seldom toll-free for small balance credit cards.
You have to talk with a manager, usually the first bozo you speak with could care less. If you don’t get what you want, you can always go with a new credit card company. I wouldn’t be too loyal to your credit card company they are only interested in making money on you. They really don’t have any interest in lowering your rate.
Debt Free Dave
http://getprequalified.com
Great article,
love it
To your advance success
Tracy Ho
wisdomgettingloaded
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