Reduced interest rate just one phone call away

HOUSTON (FOX 26) - Here's a little-known fact.  If you ask your credit card company to waive that late fee, chances are they would.  According to Bankrate.com, of the credit card holders who asked for their late fee to be waived, 89% actually got it waived. Cyone Batiste did it.   

"For the late fee I've done it especially if the day occurs on a holiday or a weekend when the bank may not clear it, I have yes,” she said.

Reducing your interest rate can be done too.  According to Bankrate.com 78% of consumers who asked their credit card company for a lower interest rate, actually got their rate lowered. 

But most card holders don't know they can do this.  It's easy. Just call the number on the back of your credit card. 

Why would a credit card company to reduce your rate?  Competition!  It's a competitive business.  So, if you say you'll take your business elsewhere, chances are your credit card company may lower that rate to keep you.