How do I negotiate a lowerinterest rate?

Question

My credit card rates are ridiculous. Each time I call the CC company to reduce my rates they always say no.
How do I go about getting them to reduce my rates? What techniques, tips or suggestions do you guys have. Thanks.

They don't seem to care when I threaten them with a balance transfer.

Answer 1

Threaten to close the account after your balance transfer.
Your threat will sound empty if you are not prepared to actually do so. So do it, set yourself up by calling a competitor first.
Give them some juicy details, such as, "I like this offer I have from Big ABC Card Corp to balance transfer. It only costs $150 but it will be worth it in the long run."
Listen closely and you'll hear them squirm! Silence or stammering, and you're golden.
If they tell you no, just do it.

Answer 2

Tell them if they dont reduce your rate you will change banks get a cheaper rate credit card and transfer the balance

Answer 3

I faced the same situation a few years ago. This worked for me. I tricked them into believing I had a stronger financial status, and it drastically changed the climate for balance transfer offers. Also, I was usually granted small reductions in my rate each time I called.

I wrote this article several months back. It is a summary of the steps that I took.

Answer 4

if your credit card don't want to talk to you- transfer your balance and don't use this credit card.

Answer 5

lawyer