Periodically, I’ll log into my credit card online access portal and see if they’re willing to lower the interest rate on purchases on my account. If the credit card doesn’t have that feature on their online interface, I’ll give them a call to see if they’d be willing to. Nine times out of ten, they’ll acquiesce and lower the rate by a little bit. Why do I bother? It’s the same reasons why I periodically request credit limit increases.
You Never Know…
You never know when you’ll need that credit. Maybe you lose your job the next day or there some big emergency that drains your emergency fund and forces you to tap into your credit cards for some relief. You never know what will happen so it’s always good to have as low a rate as possible on purchases. I never carry a balance and I’ve been fortunate to never have been in a situation where that would’ve been necessary. However, if I am, I’m comforted in knowing my rate is as low as I could’ve gotten it.
Your Best Shot Is Now
Whether you have a balance or don’t, the best time to ask is as soon as possible. If they say no, no big deal. If they say yes, then you immediately benefit. You don’t want to be in a pressure situation before you ask. For some reason companies can sense that. 
Why Not?
Basically, why not ask? It won’t hurt you any.
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[...] tells us to ask for lower CC rates in Ask Credit Card for Interest Rate Reduction posted at Daily Money Hack. I agree, what’s the worse that can happen, they say [...]
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