Step one: pick up the phone and call American Express.

Step two: say that you have been a good customer and you would like to get the rate lowered.

Step three: accept the lower rate.

Step four: say thank you and hang up the phone.

That is exactly what I did and I got my interest rate lowered from 19% to 14% effective my next billing period. Well actually it was a little bit more complicated than that. I did call customer service and asked for my rate to be lowered since I have been a good customer for the life of the card. I have always paid more than the minimuma and I always pay my bill on time…..early even!

The service rep looked at my rate and said she would see what she could do then returned to say they could take my rate down to 14% right now and I could come back in a couple of months to see if I could get it lower than that.

I said that was fine and was ready to thank her and hang up when she said that I also have another card with them and she would see if she could get that one lowered too if I would like.

I said boy oh boy I sure would! Why would I say no? But then she came back and said that since the other card was at 9% currently they could not take it any lower at this point. No problemo!

So there you have it! All you have to do is ask. If you do not ask they will not offer….but if you do then the worst they can do is say No.

Call your credit card company and try it today. Getting a lower rate will only help you save money in the long run because you will be paying less in interest.