Has anyone ask for lower interest rate on credit card?

[Lise]

I see consultants on the TV tell their clients to ask about lowering interest rate. I've tried to ask on the phone but they kept giving me the round-around about my card. If I wanted to get a lower interest rate, that I would have to pay extra $20 and it doesn't cover insurance and whatever....

  Which is kinda ridiculous because I'm the paying customer and I've NEVER missed a payment before. The consultants on TV said it's a sales tactic and if you wanted to lower your interest rate to actually go see the manager.

  Anyways, I might do this but want to get input from anyone who has tried to get a lower interest rate on their credit cards. Any advice?

[Michel]

The only way that I have been able to lower my rates is by stop using a card and order another card with lower interestas rates from another bank doing promotion.

[purelife]

Hey Lise.

  Yes, I have asked for lower interest for my visas but was only successful with my Vancity Visa and CIBC Select Visa.  With them, I had to pay a yearly fee (can't remember how much) and was charged a lower rate of interest at around 12% or something.  I had no problems with paying that yearly fee for a lower rate because the fee will pay itself out in a month or two.  It was wayyyy cheaper for me.  But now, I only have one Visa, the Vancity one with the lower rate.

  I tried asking PC Mastercard but they wouldn't budge.  

  What you could do is transfer your balance to PC Mastercard.  They have a very low interest for transfer of balance at around 4% or something.  

[49er]

Lise wrote:
I see consultants on the TV tell their clients to ask about lowering interest rate. I've tried to ask on the phone but they kept giving me the round-around about my card. If I wanted to get a lower interest rate, that I would have to pay extra $20 and it doesn't cover insurance and whatever....

  I suspect these consultants are talking about the US.  I know people who have called and easily have had there interest rates reduced.  They threatened to transfer the balances to a new credit card if the rates were not matched.  Unless your credit is really bad, credit card company here are falling over themselves to give you a credit card without a fee......many offers rewards.  

[Lise]

Hmm... Interesting. I guess I will have to go ahead and do some research on which bank will give the lower interest rate. Maybe even consider switching over.

  Thanks for the input, everyone.