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initially speak to will be trained to stonewall you. In today's age of better-informed consumers, many credit card companies know that they are going to be called about lowering rates. Obviously, they don't really want to do this, so representatives are trained to say that they simply can't change your rate.

If this happens, ask firmly to speak to a supervisor. Insist on it if the representative stonewalls you some more. When you get the supervisor on the phone, be sure to make a point of getting their first and last name. Then explain your request and ask them to give you a lower rate.

The supervisor might stonewall as well. If this is the case, find out why they won't lower your rate. If they say your credit history is not good enough, or you carry too-high balances, or provide some other substantive reason, thank them and hang up. Now you have an idea for exactly what you need to do over the next few months, in order to qualify for a lower rate.

LETTERS

So if you want to lower your credit card interest rates, plan on making phone calls. Even if you are not good on the phone, you can do this. We've provided four effective scripts that you can use, so you are ready to give it a go.

In conclusion, it's perfectly possible that when you contact your credit card company, they will say "No." If they insist on not lowering your rates, you are better off cutting your losses and marking a date on your calendar about six months in the future to call them back and try again. During that time, make every effort to be an excellent customer, improve your credit history and get the right balance in your debt-to-income ratio.

Remember that in today's financial climate, you are more likely than ever to be able to get lower interest rates on your credit cards. With interest rates at nearly all-time lows, this is a great opportunity. Also don't forget that lowering interest rates is just one useful strategy in a robust approach to getting out of debt. Loan modifications, consolidating debt, accelerating your mortgage pay-off: these are all facets of a larger plan to free yourself from debt.

Learn more about this author, Jared Garrett.
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