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Having high interest rates is a hassle. Interest rates alone are a hassle, but we live with them, because they are the very reason we can buy things that we cannot afford right now and pay for them later.

But perhaps, if you are swamped with high interest rates and feel like you deserve a break, there could be a solution. Call and ask. Yeah, it's that simple.

If you have been a faithful credit card holder and have kept all the rules, you will probably get the decrease you want. This is what you have to do.

1. Timely Payments

Getting an interest rate decrease will be much more difficult if you have not paid your bills on time. In fact, one of the consequences of not paying on time is having your rates INCREASED. You must pay your monthly credit card payment each month, even if it is just the minimum, because the rewards are substantial, but so are the punishments.

2. Go the Extra Mile

When you pay on your credit card, there is a minimum monthly payment you must make, no matter what. If you have the means to pay a little extra on your credit card bills, do it. This will show that you are eager to pay off your debt, so you are less likely to go bankrupt, and more likely to make your payments on time.

3. Keep the Balance Low

Having a large balance on your credit card account will lessen your chances of changing your interest rates for the better because if you are deep in debt, credit card companies may believe that your potential to get further into debt is greater. The deeper into debt you get, the more likely you are to fail to pay your bills on time. This will in turn not only disqualify you for a decrease, but it will actually increase your interest rates.

4. Your Credit Rating is Everything

Maintaining a good credit score will increase your chances of getting an interest rate reduction. Your credit score is what will determine the company's trust in you, and it will increase or decrease your chances of getting a lower interest rate, depending on how good or bad it is. Having good credit says to the credit card companies that you are dependable, therefore because you are a good customer with good credit, you deserve to have your interest rate lowered.

5. Compare Rates

Sometimes, to help the decrease in interest rates along, you could do a little research and see what kind of rates other companies are willing to charge you. That way, you could ask if your company is willing to match those rates if they are lower than the one you have now.

In the end, if you desperately want a lower interest rate, you could switch cards and get the lower interest rate anyway. Having your credit card company decrease your interest rates should not be difficult if you have a good credit report, pay your bills in full and on time, and have a low and reasonable balance.

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