Every day, it seems, we receive a credit card application in the mail offering an introductory APR that seems too good to pass up. On the other hand, the credit cards we already have may have started out with a low interest rate, but within a few months we find the rate soaring to 24% or more. If your credit card APR is too high, here are some steps you can take to lower it.

1. Call the credit card company and ask to have your APR lowered. In most cases they will do so, especially if you have had the card a long time and have maintained an excellent payment schedule.

2. Conversely, if you contact a credit card company and they refuse to lower your APR rate, consider using another card (if you have one) to pay the credit card in full. However, do not cancel the current credit card account with them, especially if you’ve had the card for a long time. Your history with this company is important to your credit score.

3. If you only own one credit card, check online to determine who has the lowest APR rate or check any application received in the mail wherein the APR is 0% for six months or more. Apply for the card and pay off the credit card company who would not lower your rate. Try to pay off the card within the six month time frame, before the interest rate goes up.

4. When applying for a credit card, it is important to read the terms and conditions. Remember, too, that rates may only be fixed for a certain amount of time. Ascertain the low and high APR rates before applying for the card.

5. With the economy in a state of flux, banks may not be willing to offer low interest rate cards. Research credit card companies online and compare the APR. If necessary, call them to determine the current APR and if they intend to raise it in the near future.

6. If you have a good credit history, you may be able to reduce your APR significantly. For example, consideration will be given to you if you have had the card for a long time, have a high credit limit, have a current unpaid balance, and if you have not paid on time.

The good news is that you can lower your APR rate by as much as 3% or more if you have met the aforementioned criteria. Credit card companies personal loan, in general, do not want to lose your business, so the more you press them on the issue, the more likely your APR will be lowered.