My Credit Card APR’s are Frighteningly High

It embarasses me to admit that 5 of my 7 credit accounts that I am working to reduce have APR’s of over 20%. It really didn’t hit me until I made a spreadsheet this week of the current totals.

Head in the sand   

I’ve had my head in the sand long enough. has some great advice about calling up the credit card companies and simply asking to have your APR lowered.

…the results of a national survey conducted by the U.S. Public Interest Research Group in March 2002. Fifty consumers of all credit backgrounds called credit card issuers and asked for lower rates. More than half, 56 percent, scored lower rates.

They also provided the script that those callers used.

Hi, my name is [Your Name]. I am a good customer, but I have received several offers in the mail from other credit card companies with lower APRs. I want a lower rate on my card, or I will cancel my card and switch companies.

I’ve got a busy day at work today, but I’m going to find time over the weekend to make these calls. Look for the results of my own attempts on Monday!


  1. 1 Monday Wrap-Up and Goals for the Week « Debt Free For Life

    […] March 19th, 2007 in Credit Cards, Motivation I promised last week I would report back on my results to get my credit card APR’s lowered. However, I was tied up […]

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: