- When it comes to lowering your credit card interest rate, waiving fees or raising your credit limit, there is room to negotiate.
- Sometimes all you have to do is ask.
Americans are up to their ears in high-interest credit card debt, but there is a way out. The typical American has a credit card balance of $6,375, up nearly 3 percent from last year, according to Experian’s annual study on the state of credit and debt in America. Total credit card debt has reached its highest point ever, surpassing $1 trillion in 2017, according to a separate report by the Federal Reserve. Meanwhile, credit card rates are also at a record high, at an average of 17 percent, according to Bankrate.