Slash Credit Card Interest: 3 Expert Tips to Save Big on Payments

• The average US credit card interest rate is 22%, rising to 30% for those with poor credit or missed payments.
• Total US credit card debt reached $1.23 trillion, a 5.75% increase year-over-year, with the average individual owing over $6,500.
• Experts advise requesting a lower interest rate from your card issuer, especially if you pay on time and have a credit score of 740+.
• If a rate reduction is denied, consider a balance transfer to another card with a lower interest rate or adjust your payment schedule to pay twice a month to reduce overall interest.