Filed under: Advice,Loans

More people are in debt in this country and for more money than at any point in history. The result has many people frantically looking for ways to pare down the balances on their credit card.

One relatively painless way to start to erase credit card debt is to negotiate with your credit card providers for a lower interest rate. Most people don’t realize that the rates are negotiable and as a result, are paying much more than they have to.

If your credit is in good standing, and you have made your payments on time, most companies will offer you a lower rate to avoid the chance of losing you as a customer. On the other hand, if your payments have been consistently late, you will probably have a more difficult time attempting to negotiate with them.