You've received credit card applications in the mail promising low interest rates. Now, instead of an annoyance, you can use them to get a lower rate on your current credit card. We hit Macarthur Center in Norfolk, to find people willing to put our game plan to lower your rates to the test. We asked people to call the customer service number on the back of their credit cards.
Once they have a person on the phone, they make a simple four sentence statement. "Hi, my name is (your name). I am a good customer, but I have received several offers in the mail from other credit card companies with lower annual percentage rates. I want a lower rate on my credit card. Can you help?"
The people we spoke with saw a drop between 5% and .6%. It didn't work for everyone, but you can always try again and ask for a supervisor if you don't get anywhere with the first person you talk to. Keep in mind it may take a month or two before your credit card statement reflect the change in interest rate.