You can reduce the cost of your bills by either looking for credit cards with a lower rate, or by reducing the rates of your existing cards.
How to get lower credit card rate
Although credit cards are meant to help people, many of them misuse them to ultimately find themselves in a huge mess. It is not always fair to blame credit companies for your exorbitant bill amounts because you had been informed of their rules and policies before you bought your cards. Reckless use of your cards in frequent spending sprees will naturally lead to bills that are almost impossible to pay off. Apart from spending less, you can reduce the amount of your bills by looking for credit cards that carry lower interest rates. Yet another effective way of lessening your burden is lowering the rate on your present accounts.
How to proceed
In order to get lower rates on credit cards, you should get in touch with those departments in which you maintain credit accounts. Now try to convince them so that they agree to convert your credit account at a lower rate. It can help if you have a prolonged business relationship with them. In case your present credit card company fails to keep your request, you can choose other companies. Because, you only stand to lose if you stick to cards that have higher interest rates. Follow it up with looking for a company that is ready to accept new applicants. Show your keenness in dealing with the company to ensure a favorable response. If you do not hear from the credit card company for about a week after completing all the formalities, it is better to directly contact their office and inquire into the matter. If the company was to reject your application, they are obliged to write to you citing reasons for their refusal. In such a scenario, you can look for another company.
Good credit history essential
Keep it in mind that no matter how hard do you try, all your efforts to get a lower credit card rate will be in vain if you do not have good credit history. If your credit history is bad, you will be blacklisted by card companies. So a good credit history is essential if you are looking to get low interest rates on your cards. You should know that many credit card companies keep provisions for lower interest rates for those who are recognized as credible customers.
You should have a lot of patience if you want to get a lower credit card rate. You should never forget that it is you who will be benefiting at last from the amount of hard labor you are giving at present.