- 1). Calculate how much you owe on your credit cards, including interest and penalties. When talking to a lender, it's good to know where you stand. The lender will know all of this information already.
- 2). Collect any credit card offers you get in the mail. Most people receive at least one letter a week offering a new credit card, with an appealing introductory offer.
- 3). Call the customer service number on the back of the credit card.
- 4). Explain to the customer service agent that you are struggling to make the monthly repayments.
- 5). Ask the agent if it's possible for you to get a better interest rate than what you are currently paying.
- 6). Tell them that you will cancel the card and transfer your balance to another card.
- 7). Quote specific offers that you have received from other card issuers. More often than not, your current credit card company will match the introductory offer from another company to keep your business.
Source...