There are two commonly used methods to lower credit card interest rate costs. The first is to transfer your balance to a lower-interest rate card. Be sure to read the fine print, however, because many credit card issuers charge a balance transfer fee (e.g., 3% of the transferred amount), which could be as much (or more!) than the interest rate savings.
The second interest-rate reduction method is to call your card issuer's toll-free number and request a lower interest rate from a customer service representative. Many creditors will cut interest rates for customers who have always made on-time payments because they know that it is cheaper to keep existing customers happy than it is to pay marketing costs to replace them.
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