Credit card companies have long been making all sorts of changes when it comes to their terms and conditions. The sad fact about this is that not too many clients are actually aware that these changes are taking place. This then should serve as motivation to be aware of the existing changes and then contact your credit card company to inquire about such changes. Yes, it would really help to contact your credit card company ?quite effective if you want to reduce your interest rates. And believe it or not, one of the common reasons credit cardholders do not have lower interest rates is the fact that they just neglect their right to negotiate and ask for such rates outright.

But then again, before you do make that call, you better save some cash of your own. This way, it would put you in a better position to get those lower interest rates.

The first thing you need to do is see just where you stand. Make a spreadsheet or even just a list outlining your credit card accounts ?and be sure to include all of them. Include their interest rates and their balances. It is also good practice to sort them from the highest balance to the lowest balance. This way, it is easier to determine the credit cards that are costing you the most.

The second thing to do is to check the competition. Apart from saving money, you should also move on to reviewing other credit card offers that you receive in the mail. Determine the ones that fit your preferences the best and disregard the others. Credit cards that offer 0% interest rates just might be your ideal choice ?that is, if they provide decent terms and conditions.

Third, contact your credit card company. Make sure that you have your lists prepared by the telephone, as well as a notebook and pen. Contact the credit card company that comes with the highest in terms of interest rates and fees. Make sure to ask for a supervisor or a manager because customer representatives do not have the authority to make changes to your credit card account.

Fourth, do not be afraid to issue an ultimatum. Tell your credit card company that you will take your business somewhere else for you can indeed transfer your balance to a new company. Most likely, they will renegotiate your existing terms.

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