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Thursday, July 2nd, 2015


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Script for Getting Your Credit Card Interest Rate Lowered

If you have credit card debt the first thing you should do is get your interest rates lowered. You might be surprised at how easy it is.

Here is a sample script of what to say to get your rates lowered. This script was suggested by the U.S. Public Interest Research Group. It’s pretty straight forward, and it works!

“Hi, my name is [your name]

I am a good customer but I have received several offers in the mail from other credit card companies with lower APRs. I want a lower rate on my card or I will cancel my card and switch companies.”

If you have been a customer for a long time you should add that. For example:

“Hi, my name is [your name]

I have been a good customer for almost six years, but recently I have received several offers in the mail from other credit card companies with lower APRs. I want a lower rate on my card or I will cancel my card and switch companies.”

If they claim that they cannot help you, or if they offer a rate that isn’t low enough you can ask:

“Is that the best you can do?”

If they say “yes” then ask to speak to a supervisor. You can repeat the same exact script with the supervisor.

Be polite but be persistent. Each of your credit cards should have an 800 number on the back.

If they still refuse, call back the next day. Who knows, you might get someone who is willing to help you. Some credit card companies have people on staff whose job is to talk to people like you—people who are threatening to leave.

If they completely refuse to lower your rate then it’s time to switch companies. Use billshrink.com or the Young Money credit card finder to find a better deal.

Emily Torres has a story in an upcoming Life’s a Bitch Books anthology.

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