Lowering your interest rate through negotiation

From my friend Sean McDermott:

You can negotiate your credit card’s annual percentage rate. Call your credit card company and tell them that you’re considering another card because it offers a lower APR (it is good to have an actual number, say 12 percent, as your offer from the other company). Tell your credit card company that you would be willing to stay with them if they drop the APR on your current card.

Sean and I became friends when we traveled together to Washington, D.C. to attend the 2000 Presidential Inauguration conference. As broke college students, we enjoyed eating desserts at D.C. restaurants. This allowed us to see the town and eat at nice restaurants without the full meal costs. Plus, we gotta eat dessert!