Wealthy Living

4 Easy Ways You Can Lower Your Interest Rates Right Now

Credit cards and loans can be important assets in our lives – they help us get an education or build trust with banks for larger purchases like homes.

But high-interest rates can mean danger. If you can't keep up with payments, the mounting debt can feel suffocating.

Actionable Steps to Lower Your Interest Rates

But high interest doesn't have to be a nail in the coffin; there are many methods to lower your interest rates.

1) Call Your Lender

Yes, it's that simple! You can negotiate a lower rate by calling your credit card company or loan lender. With this method, most people who try are successful.

2) Negotiate

The more ammo you have ready before picking up the phone, the better. When it is finally time to call, remember: being polite is key to being able to lower your interest rates.

3) Transfer Your Balance

A balance transfer card lets you consolidate your credit card debt. This is better if you're accruing interest on multiple cards since you can put it all on one account.

Swipe up now to read the full post!