HARTFORD, Conn. -- Long after the holiday decorations have been dragged back to storage and signs of spring have emerged, many consumers will still be paying off debt accumulated from holiday shopping.

With holiday shopping season kicking into high gear, now is the time of year that many credit cards get the most use.

Credit Card Interest Can Be Reduced Via Phone

What many consumers don't know is that lowering their annual percentage rate is as easy as calling and simply asking their credit card company to reduce it.

Channel 3 Problem Solver Kara Sundlun reported that credit card rates can vary from as low as a couple percentage points to as high as 35 to 40 percent depending on the holder's credit.

As long as the holder pays their bills, credit card companies want to keep them as customers, prompting them to lower rates in the course of a quick phone call.

Sundlun gave a script to Beth Andrews of Farmington to use when calling her credit card company. Andrews called and her rate was instantly reduced.

"They actually cut it in half, and in two billing cycles, they will cut it in half again," Andrews said.

What To Say When Requesting Lower Rates
"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 annual percentage rates. I want a lower rate on my credit card. Can you help?"

Sundlun reported that if the first representative from the credit card company can't help lower your rate, ask for a supervisor. If that doesn't work, you may want to switch your card to one with a better rate.

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