There are three easy ways to lower the interest rate you’re paying on your credit card balances. These choices are often overlooked by cardholders, who simply pay the high interest instead of seeking a better option.

1. Get a 0% APR credit card.
Find a credit card that offers a 0% introductory APR. This can help a lot, letting you transfer your existing credit card balance to your new card. The typical introductory rate lasts about 6 months, although you can find issuers that offer the rate for up to a year. While this can be a really great option for many people make sure you read the terms; some lenders will charge you a balance transfer fee that varies between 2-4% of the balance. This option is great for people that have a somewhat large amount of debt that they’d like to repay. The introductory term lets you pay off your debt while saving hundreds.

2. Call your credit card companies.
You should always contact your credit card companies to ask for the best possible interest rate. You can often get your lender to lower your interest rate, especially if you’re in a financial hardship. Be polite and tell them that you’ve been offered a better rate by another company and are considering moving your business. This is usually enough to convince them to lower your rate and keep your business.

3. Pay off high interest cards first
The best way to eliminate your debt is to pay off the high interest credit cards first. This will save you hundreds in interest each year and leave you with the lower interest rate to pay. Remember that the interest builds up, making it effective and useful to pay off the highest rate first.

Lowering the interest rate on your debt saves you money every month because interest accumulates over time, often making your minimum payments smaller than the interest that’s building up. Consider these options to lower the rates you’re paying on your credit cards.

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