Credit Kit -- Improve credit rating and reduce monthly bills by $200+ Debt Kit -- Settle unsecured debt for less than half of amount owed |
Below are sample letters you can send to your credit card issuer asking for a lower credit card interest rate. If you don't want to send a letter, try phoning instead. In fact, there is no reason to send a letter unless you're ineffective in dealing directly with people over the phone or your request by phone was denied. |
Threaten to Transfer Credit Card Balance to Another Credit Card Dear Sir / Madam: I have visited the websites of two of your competitors, _____ and ______. I noticed that both of these companies are offering credit cards with an 8.9% interest rate on purchases and balance transfers. I have attached copies of the information I found at their websites to this letter. I am requesting that you reduce my current rate of ___% to ____% so that it is in line with what is available in the current market. I feel this is a fair rate since two major credit card issuers are offering it to new customers like me who have excellent credit ratings. If you cannot offer me this rate, please advise me as soon as possible, as I plan to transfer my balance to one of these cards if you will not comply with my request. When Phone Request for a Lower Credit Card Rate is Denied Dear Sir / Madam: I recently telephoned you to request a lower interest rate. The representative I talked to denied my request on the basis that I am offered the lowest available rate. I am writing this letter to request a lower interest rate. I believe I deserve a lower rate on the basis that I have always been an excellent customer who has paid her bills on time. Will you please reconsider your original decision and lower my credit card interest rate? Request They Match or Beat a Competitor's Credit Card Offer Dear Sir / Madam: I am writing this letter to request that you match or beat an offer I have received from another credit card company. Attached is a copy of the credit card offer I have recently received from ___________ Bank. I have circled in red the portions offering a ______ APR on balance transfers for the life of the balance transfer. I believe I deserve a much lower rate than the _______% you are currently charging me. I have an excellent payment history with you. In addition, your rate is more than double the typical rate being charged by all the major credit card companies. Please let me know of your decision as soon as possible. Thank you for your attention to this matter. |
Getting Out of Debt: Ask for a Lower Credit Card Interest Rate |
Below are sample letters you can send to your credit card issuer asking for a lower credit card interest rate. If you don't want to send a letter, try phoning instead. In fact, there is no reason to send a letter unless you're ineffective in dealing directly with people over the phone or your request by phone was denied. |
Credit Kit -- Improve credit rating and reduce monthly bills by $200+ Debt Kit -- Settle unsecured debt for less than half of amount owed |
