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We all pick up our credit card statements, take a look at the bill, and notice that gigantic APR.  Who the heck pays this APR?  While the APR can range anywhere from 20%+, if you pay off that bill with just the minimum payment, you’re going to find that it’s going to take years for it to disappear.  This isn’t a fun task at all.

If you’re looking for a way to lower your APR on your either your credit card, loan, or whatever it may be, I wanted to give you some tips on how it can be done.

Step 1: You’re going to want to write down what you’re paying for in terms of your APR.  You will want to note the account number, your APR, as well as what your balance is.  The more you have, the better it is for you when you start the process.

Step 2: Before you start calling up the credit card companies, see if there are other credit card companies offering 0% APR balance transfer offers.  By signing up for an offer like this, you can transfer your whole balance and pay a 0% rate for the next 6, 12, or even 24 months depending on the card.

Step 3: If you can find a card, I would go this route.  This way, you’re going to get a 0% interest rate and this is something that you just can’t beat.

Step 4: If you’re finding that you can’t find a 0% balance transfer offer, you’re going to want to get the credit card company’s toll free number.  This is where you’re going to prepare to call them.  Now, before you call, you’re going to want to make sure that you know what you’re going to say.

Here is a script that you can use…

“Hi, my name is _______.  I’ve been holding your card since _____.  For that amount of time, I’ve paid my bills on time and have used your card just about everywhere I go.  I’ve been receiving numerous offers from Visa/Discover, etc and they are currently offering me a _____ APR.  I want to still use your card, is there any way that you can lower my rate?”

Step 5: Call up the company and ask them nicely if they can lower your rates.  If you’re loyal to the company and if you have paid on time all the time, you’re going to find that it may work for you.

Step 6: You’re going to find that it either works or it doesn’t.  If the operator can’t budge with you, ask to speak with a manager.  He/she will be more than happy to transfer you.

Step 7: If it isn’t working out for you, what you’re going to want to do is simply look for other offers.

By following these steps, you’re going to find that you can drastically decrease your APR.  It doesn’t hurt to try and by doing so, you’re going to find that you can save hundreds, if not thousands over the lifetime of your loan!

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