Is there anything in it for credit card companies to reduce my interest rate?

I%26#039;m in the process of paying down my debt and it would be nice to do it at a more reasonable interest rate. Basically all of my cards are in the 20% range and i%26#039;ve been told you can negotiate a better rate. My score is in the mid-600%26#039;s and all accounts are in good standing. Does anybody have any history of successful negotiation in a similar situation, and if so what%26#039;s in it for the company to do so?

Is there anything in it for credit card companies to reduce my interest rate?

They keep you as a customer. Tell them you are transferring the balances to another company offering 0% until that balance is paid off. They should make you an offer if you have been with them awhile and your payment history is good.

Is there anything in it for credit card companies to reduce my interest rate?

Yes, you can ask that you need the reduced interest rate,they do not like to loose a good customer, so tell them that you will change Credit cards if necessary talk with the Manager

Is there anything in it for credit card companies to reduce my interest rate?

The first answer was a good one but what if they say no? As that is a common thing cc companies here from consumers these days. You said your credit score is mid sixes is that on just one credit file or all four? I will assume that is one score. The best thing you can do is take out a loan from a bank at a set rate and pay them off as even if they lower your rate they can change it back.If you get a 0% credit card it will change as well (thats how they get paid) If you cant get a unsecured loan then go with that if not a second mortgage is good right now . I would need more info. to better answer in full detail. You may contact me at igetayes@yahoo.com

Is there anything in it for credit card companies to reduce my interest rate?

Your score is directly related to your credit card interest rate. Therefore, if your score is higher now than it was when you were approved then you definately should be below 20%. I don%26#039;t think they would be willing to go lower than about 10-14% but every percentage point helps.

If you are a responsible borrower, I would say to get a 0% balance transfer to another card, with no annual fee and a low or no balance transfer fee. You can find low balance transfer cards at http://www.cardrewards.net/balance-trans...