Most Credit Cardholders Lower Their Interest Rate Just by Asking

April 10, 2019, Written By John H. Oldshue
Most Credit Cardholders Lower Their Interest Rate Just by Asking

Tired of paying a high credit card APR? The solution may be as simple as just asking for a lower interest rate.

According to a new survey, 81% of credit cardholders were granted a lower APR last year just by asking for one. The average reduction was around six percentage points.

But surprisingly, only one in five cardholders chose to ask for a lower interest rate. When asked why they did not ask for a reduction, most people said they didn’t know that was an option or didn’t think they’d be successful.

The study also found 79% of cardholders who asked for a higher credit limit were successful, but only 28% made the request. Among those who received an increased credit limit, the average boost was $1,500.

Nearly half (48%) of cardholders who had incurred a late fee requested a fee waiver in the last year, and 87% received that waiver. Late fees typically run $25 to $38, but most credit card companies will waive the first late fee.

The survey found men were more likely to request these services, but both genders were equally successful with their requests.

The information contained within this article was accurate as of April 10, 2019. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About John H. Oldshue

John Oldshue is the creator of He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for
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