How to Ask for a Lower Credit Card Interest Rate
If your credit card has a high interest rate, don’t wait for the card company to lower it. Most companies won’t lower your rate on their own, but many will if you call and ask.
Why It’s Worth a Phone Call
In a LendingTree survey reported in September 2026, 84% of cardholders who asked for a lower interest rate in the past year got one. The average cut was about 6 percentage points. People with good credit scores have the best chance.
Before You Call
- Know your current interest rate (APR). It’s on your statement and in your card’s app.
- Pay on time for a few months first. A record of on-time payments gives you something to point to.
- Check your credit score. Many banks, credit unions, and card apps show it for free.
- Look up what other cards are offering so you have a number to mention.
What to Say
Call the number on the back of your card and keep it simple: “I’ve been paying on time, and I’d like to ask for a lower interest rate. What can you do for me?” If the first person says no, politely ask if someone else can review your account.
If They Say No
- Ask when you can request a review again, and put it on your calendar.
- Look at a balance transfer card with a 0% introductory rate. These usually charge a transfer fee of 3% to 5% of the amount you move, so do the math before you switch.
- Check with a local credit union. Credit unions often have lower rates than big banks, and some offer a rate review after a few months.
- If your rate was raised, the federal CARD Act requires the card company to review your account every 6 months to see whether the rate should come back down.
Survey source: LendingTree, as reported by WLOX wlox.com
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Last Updated on October 24, 2026 by Jodi
