Could you get a lower APR just by asking your credit card company?
Eighty-one percent of those who asked for a reduced APR in the past year were successful, according to a recent report by CompareCards.com.
Here's the catch: Just 1 in 5 cardholders made the request.
The report also noted that women are leaving money on the table by not requesting a lower APR or other financial breaks.
Key findings: 81% of those who asked for a reduced APR in the past year were successful, but just 1 in 5 cardholders asked. The average reduction was about 6 percentage points. 87% of those who asked to have a late fee waived in the past year were successful. About half (48%) of those with late fees asked for a waiver in the past year. 79% of those who asked to have a credit limit increased in the past year were successful, and 28% of cardholders asked. The average increase was about $1,500. Men are more likely to ask for these breaks, but there's little difference in success rate between men and women among those who ask.
Full report: www.comparecards.com/blog/8-in-10-got-lower-apr-credit-card-study