We have a credit card ready to expire and think this is probably the time to seek a better interest rate.
We have excellent credit rating. And we have had this particular card with this bank for years and have ALWAYS paid much more than the minimum payment. We have rarely carried a balance. And when we do, it is not substantial We do use the card, and it is one tied to points for flights, so we try to use it and pay it off in order to collect these points.
I hear of people calling and receiving a lower interest rate.
How do you go about asking for this? Do you just ask them to lower it? Do you suggest the rate? Do you threaten or suggest that you may go elsewhere for a card?
In case it matters. We are in Canada. Have a joint credit card and bank chequing account with the same bank, our childs education fund (RESP) is also with this bank. Our RRSP's and savings account is with another bank.