Easier than ever to get a lower rate on your credit card interest.

The Wall Street Journal reports that increased competition has forced credit card companies to be more competitive with their interest rates. Sometimes all you have to do is make a call and ask for a lower rate.

Other times more pressure (like threatening to tear up the card) is required, but 75% of those who asked for lower rates got them according to the Journal.

With rates in general going up, this is good time to be working on lowering yours. Variable-rate cards carry an interest rate of
16.6%, up from 12.5% last year according to Cardweb.com.

About half of all credit card holders carry a balance.

For more information on credit cards click here.

Comments are closed.