Maria Adams, Credit Cards Moderator
@m_adams
One way to lower your Chase credit card APR is to call customer service at (800) 432-3117 and negotiate with the issuer. Another way is to improve your credit standing. According to customer service, cardholders who manage to boost their creditworthiness may also be granted an interest rate reduction. But there are other options to consider, too.
Ways to Lower Your Chase Credit Card APR
- Negotiate with Chase: Call customer service at (800) 432-3117 and negotiate with the issuer to lower your interest rate. Consistently paying your credit card bills on time to prove that you are a responsible consumer will probably help you to that end.
- Improve your credit standing: Chase might grant you a rate reduction if you improve your credit standing. There are several ways to improve your credit score, from paying down debts and reducing your credit utilization, to simply making on-time bill payments each month.
- Get a new 0% APR credit card: If negotiating with Chase fails, you can always apply for a 0% APR credit card. If your new card comes with a 0% introductory APR on balance transfers, you can move your existing debt to your new card and then pay back your debt at a reduced interest rate.
Keep in mind that lowering your Chase credit card APR is not always possible. If you're having trouble managing your credit card debt, consider contacting Chase and exploring whether you are eligible for a hardship program or not.
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How does the Chase credit card hardship program work?
The Chase credit card hardship program temporarily reduces monthly credit card payments in the event of unforeseen financial setbacks. Chase might waive late fees, reduce your interest rate, and/or put you on a payment plan. However, you must prove a legitimate financial hardship, such as serious illness or injury, death in the family, unemployment, divorce, or natural disaster, for example.
How to Enroll in the Chase Credit Card Hardship Program
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To negotiate credit card debt for less, start by figuring out how much you owe and how much you can pay, then come up with a plan of what to ask for, and trade offers with your creditor until you come to an agreement. Learning as much as possible about how to negotiate credit card debt ahead of time is the best way to increase your chances of coming out on top. There are just a few...
read full answer by Mary Grace McCormick, Credit WriterDid we answer your question?
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