 TITLE: How to Lower Your Credit Card Interest Rate CONTENT: Take Stock of Your Situation\n----------------------------\nBefore you approach your card issuers to ask for lower interest rates, you'll want to take stock of the rates you're currently paying. You can find them listed on your statement, in the top rows of the table known as the \"Schumer box.\" The entry for \"Annual Percentage Rate (APR) for Purchases,\" which affects daily charges and related balances, is the one to focus on when seeking rate reductions. Note this figure for all of your open credit card accounts.\nIn addition, if there's urgency in your desire for lower interest rates—if you're unexpectedly unemployed, for example, or have experienced a medical emergency or other circumstances that create a financial hardship, you can include that information along with your request for an interest rate reduction. Be prepared to explain the situation clearly, briefly and in a matter-of-fact fashion.\nIt's also helpful to take a look at your financial situation with a mind toward the way credit card issuers do business and the reasoning they apply when setting interest rates. Credit scores are designed to predict the likelihood you'll fail to pay back your debts, with lower scores corresponding to a greater likelihood of payment failure. Lenders tend to view customers with lower credit scores as riskier to work with, and they charge them higher interest rates to compensate for the extra risk. So if you're looking for lower interest rates, one way to make a case for them is to show you've increased your credit score. END