How to Ask for a Reduced Credit Card Finance Charge

Credit card companies can be flexible when it comes to interest rates.

Credit card companies can be flexible when it comes to interest rates.

If you do not pay your credit card bill in full each month, a fee is added to your balance based upon your finance charge. With some finance charges in the 25 percent-and-up range, these additional fees can make paying down your balance difficult. Some credit card companies are willing to lower your interest rate, but you have to call and ask.

Step 1

Call the toll-free number on the back of your credit card. Follow any automated instructions, such as entering your credit card number, zip code or the last four digits of your Social Security number. When presented with options, choose the one that connects you with an agent or account representative.

Step 2

Tell the agent, in a pleasant manner, that you are making a request to have your interest rate lowered. Wait while the agent checks your record. Listen carefully to any of the options the agent gives you -- you may be offered a lower rate permanently, a reduced rate for a short period or your request may be denied.

Step 3

Ask to speak with a supervisor if you are not happy with what the agent has to offer or hang up and call another day -- perhaps you'll reach an agent who is more willing to work with you. Check out your options for moving your credit business to another company with a lower interest rate and inform the agent that you are prepared to move if you do not receive a lower interest rate.

About the Author

Diane Stevens' professional experience started in 1970 with a computer programming position. Beginning in 1985, running her own business gave her extensive experience in personal and business finance. Her writing appears on Orbitz's Travel Blog and other websites. Stevens holds a Bachelor of Science in physics from the State University of New York at Albany.

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