How To Lower Your Credit Card APR

By: Lawrence Fine

Your annual percentage rate is referenced as your APR. And lowering your credit APR means more money saved.

Since the rule of thumb is, 'A penny saved is a penny earned' ...it is hence necessary to find out the best ways to get your APR as low as possible. So here are some tips that will help you with this task...:

* Good credit record - the easiest way for lowering credit APR is by maintaining a good credit record generally and with the respective credit card. Have your payments done on time and be consistent with this particular aspect. The longer you are with the credit card company and have a great payment record the better are your chances for lowering credit APR on your card.

* Be relentless - it is vital that you come across as a person who is both polite and firm with the request. Many credit card company representatives are conditioned to react to such requests by postponing your demand for lowering credit APR for as long as possible. Remember while you will be getting major savings by the lowering credit APR, the credit card company would loose that much money.

* Be ready to shift - while most companies would give in, there are some which do not have the policy to reduce their APR, though this would be rare. Therefore, you would need to be ready to move your business if you fail in your negotiations for lowering credit APR. Do your research well so that you would shift to a credit card company that genuinely offers lower APR and does not have any hidden fees or other payment that would pull extra payment away.

* Develop good negotiating skills - it is important here that you do not demand the lowering credit APR for your card. Be persuasive and polite and request for the same. Learn how to lower APR by negotiation, i.e. by explaining to them that you are happy to be with them and would hate to leave them - yet, you are constrained by the better options offered to you by the other company (ies).

Usually, a credit card company (and any other company as a matter of fact) would not like to have their clients leave for their competition and hence, do their best to match the offer.

* Look for competition - today there is a lot of competition in the market. This will provide you with the best opportunity and means for lowering credit APR. For people who do not have the patience to stick with a credit card company for long enough to create a great impression with them this is how to lower APR fast.

Check out on the Internet for the best rates that exist in the market and then pick up the phone and renegotiate the terms with your credit card provider. If they agree to lowering credit APR on your card - great. If not, take our business elsewhere.

If you follow the tips and learn how to lower APR, lowering credit APR can be farily easy. Just hand in there and do your research and hard work to get the best rates you can!

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