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!
Here's more from Dave Ramsey on CBS this morning, including the video.
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