3 steps to get your APR rate lowered

Duran Mueller
May 14, 2007
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Credit card companies do lower the APR rates if approached with the right attitude proper planning. What is the correct procedure to do it? In this article we take a look at 3 important things that could help you get that skyrocketing APR under control.

Keep a good re-payment record

If you pay your credit card bills on time, chances are good that your credit history will be excellent. Paying bills on time gives you a good leverage for asking the credit card company to turn things in your favor. Having a good credit history will always help as there would be numerous other options available to you in case your present credit card company doesn't heed to your request of lowering your APR.

Do a good research

Before presenting your case to the credit card company it will help greatly if you find other credit cards floating in the market, which provide similar services but at a significantly lower APRs and balance transfer options. Once you have your data ready, it is time to call the company.

Call the credit company

Ask the credit card company to lower your APR, substantiating your request with your good repayment history, and other cards which offer better options. Having a good bargaining position doesn't mean in anyway that you loose your manners while calling the credit card company. Being polite and courteous always pays.

Contacting the right person, who makes the APR related decision will speed up the process. If the customer service representative denies your request, you always have other options to switch.