How to get a Lower Interest Credit Card

My first credit card was a Capital One Visa Platinum card. I obtained this card via one of the nineteen credit card applications they sent me through the mail before I was even 18. Do I realize that they were trying to cash in on me? Of course, I do.

However, building credit is imperative in my mind.

So I applied by myself with no co-signed as was approved with a $300 credit line with no annual fee, but an interest rate of 20.8% APR on purchases and cash advances alike.

Around the same time, I also opened an Abercrombie and Fitch credit card with no annual fee, a limit of $250, and an APR of 21.8%.

You say those are rediculous rates, right?

But here’s the thing, I paid every month on time, no late payments or anything for nine months. I did get into a bit of credit card debt as my limits were raised by $600 collectively on both cards, but never missed any payments.

So when I called to request an interest rate reduction, Capital reduced it by 6% and the A&F card was reduced by 4%.

I say that’s all it takes. Just call and sell the Customer Service Reps how they would attempt to sell you. Turn the game around and sell them.

All it takes is that one phone call!