How To Lower Your Credit Card Rate: Use This Script!

Written by Lynnette on November 29, 2006 | Comments (0)

There was a report on the local news here in Nashville showing how people were able to get immediate results -- much lower credit card rates -- simply by using a very specific "script" with credit card companies over the phone.

Turns out, the actual words that you say are the most important factor in your getting a lower credit card rate.

Here's the script...

According to WSMV in Nashville, you should use this script to get a lower rate on your credit cards:

Hi my name is _____________.

I am a good customer but I have received several offers in the mail from other credit card companies with lower annual percentage rates. I want a lower rate on my credit card.

What can you do to help me?

If they say they can't help, or if they offer a rate that's not low enough for you, ask:

Is that the best you can do?

If that's the best they can do, and it's still not low enough for you, then ask:

May I speak to a supervisor please?

...Then repeat the same script with the supervisor.

They say you're chances of getting not only a lower rate, but a rate that you will be happy with are quite good!

The Proof Is In The Pudding

Watch the video here.

Read the complete story here.

UPDATE 2/20/07:
I saw Dave Ramsey on the CBS Morning Show today and he said "the average rate is 14.5% right now".

The rest of what he said (paraphrased): If you have been a good customer with a particular credit card company and you have a rate higher than that, then you should call and ask them to take your rate down to around 10% or you're going to move your credit card balance elsewhere. Chances are, they'll offer you a rate that falls somewhere between 10% and 14.5%. If so, take it!