Video Transcript: "You Can Lower Your Credit Card Interest!" A SpendLessTV.com Original video from Mary Hunt, DebtProofLiving.com:

Hi, I'm Mary Hunt from Dept Proof Living. I want to share with you today a simple way tht you can decrease the interest rate on your credit card account. I said that right - decrease it, lower it, you really can do that. I know this to be true because I have members of the DPL who actually work for the credit card companies and they've tought me these tricks.

So first of all what you need to do is to get your history. If you have a good history with your credit card company, this is going to work for you. If you've been late paying, maybe you need to wait a little while, but if you've been a good customer. . .

You also want to know when you got the credit card, that's very important that you know the longevity on it.

The second thing is you want to know your credit score. Now, don't go buy it, you can go to bankrate.com and you can use the credit score simulator and they will give an estimate for what your credit score is, use that, that's fine, it doesn't have to be exact.

The last thing is you want to know what your current interest rate is. You can find that in your current statement, or give the credit card company a call if you don't know exactly what it is.

Now, you're ready. You want to get your credit card out for the account that you're going to call about. On the back is a 24-hour customer service toll-free number, that's what you want. You need your account number, it's right there on the front of your card. You're going to call that number, just call them up, 24-hours a day you can do this.

Someone's going to answer, you're going to be very kind, very cordial, you tell them that: you would like to have your interest rate reduced.

Say: Ive been a customer of yours from, what. . . say, 1992, whatever it is. . .

say: I've got a credit score of. . .790, I'm a good customer and I need for you to do this for me, what can you do for me?

Those are the magic words: What can you do for me?

If they say, "Wait just a moment, I'm going to look up your account." That's a good sign.

If they say, "No, there's nothing I can do." You say: May I speak with your supervisor, please? Just very kindly, don't get angry; don't get mad.

It may not work the first time, but I'm telling you something, if you call back every week until they comply, you will win! Just stick with it, persist; you will get your interest rate reduced.

This is Mary Hunt from Debt Proof Living. I'll see you next time.