How to Negotiate a Lower APR With Your Card Issuer

Learn the step-by-step process to call your credit card company and successfully negotiate a lower interest rate.

1. Check your current APR and payment history. Find your current interest rate on your most recent statement or app — it's usually listed as APR. Review your payment history for the last 6-12 months. You need at least six months of on-time payments to have leverage in the conversation.
2. Research competing offers before you call. Look up current credit card offers for people with similar credit scores. Write down 2-3 specific APR ranges you've seen advertised. This gives you concrete numbers to reference during your call.
3. Call the customer service number on your card. Ask to speak with the retention department or someone who can adjust your account terms. Say: 'I'd like to discuss lowering my APR.' Don't start by threatening to cancel — that comes later if needed.
4. Make your case with specific facts. Mention your payment history, how long you've been a customer, and the lower rates you've researched. Say something like: 'I've made 18 on-time payments and I'm seeing 15% APR offers elsewhere. Can you match that rate?'
5. Ask for a supervisor if the first person says no. If the representative can't help, politely ask for a supervisor or the retention department. These departments have more authority to make changes and are specifically trained to keep customers from leaving.
6. Accept a temporary reduction if that's all they offer. Many companies will offer a promotional rate for 6-12 months instead of a permanent reduction. Take it, then call again when the promotional period ends to negotiate a permanent lower rate.