You Can Lower Your Credit Card's Interest Rate. Here's How

You may have access to your credit score through your credit card.

For example, Chase offers Chase Credit Journey and Capital One has Capital One CreditWise.

Neither require you to be a Chase or Capital One cardholder to take advantage.

If you find incorrect information,you’re free to dispute itwith the credit bureaus.

How do issuers determine your card’s interest rate?

Here are four steps to help you secure a lower interest rate on a credit card you already have.

Start by highlighting your history with the company and mention your good credit and history of on-time payments.

Next, mention any lower credit card rates you’ve been offered or found in your research.

you could always ask again or request an explanation for the decision.

The issuer might offer you a lower interest rate for a short period of time.

Loan terms usually outlast the introductory period on a balance transfer credit card by years.

What is a good credit card interest rate?

But yourcredit card APRdepends on your credit score.

Also, remember that some credit cards offer an introductory 0% APR for a limited time.

Second, a lower interest rate means you’ll spend less on interest charges overall.

Using your credit cardlike a debit cardis a good tactic to help avoid carrying a balance.

In the latter scenario, you may be able to get your card issuer to lower your interest rate.

You could also use a balance transfer offer to get an introductory 0% APR for a limited time.