According to CreditCards.com, the average credit card debt (per household with credit card debt) is $15,956, and the average APR paid on that debt is 12.78%.
Annually, the average household is paying over $2,000 a year just in credit card interest.
If you do not want to or are unable to transfer your balance to a credit card with a lower interest rate, your next best line of defense is to negotiate with the credit card company to get a lower interest rate.
Before you call to negotiate, remember that you will need to be calm and polite the entire time.
Do not let your emotions enter into the negotiations. Also, keep in mind that credit card negotiations are effective about 50% of the time. Don’t use this knowledge as an excuse to give up, but also recognize that you may not always be able to get the credit card company to budge.