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First, you might try to contact your existing credit card customer service to request a lower APR. However, not all banks allow customer-initiated requests to get lower APR on a credit card, but they do review accounts periodically for such a reduction. When an APR reduction is granted, it is automatic, and a letter is mailed to the customer informing them of the new lower APR and when it will take effect.

Consolidating credit card debt can potentially help you deal with the issue on how to lower APR rate on your credit cards.

By combining multiple credit card debts into one loan or balance transfer credit card, it is possible to take advantage of a lower interest rate.

If you decide to transfer a high-interest debt and your score is close to 700, you might want to consider a balance transfer credit card with a 0% intro APR on balance transfers. When you choose a balance transfer card, pay attention the length of the zero introductory period and balance transfer fees. The last can vary between 3% and 5% for each transferred amount. Balance transfer cards can also come with rewards and no annual fee, so you may want to keep your new card after you pay off your debt.

If your score is lower, you might want to consider personal loans for debt consolidation that help borrowers combine multiple high-interest debts into a single payment. Debt consolidation loans are usually available at lower interest rates than other types of debt, like credit cards and payday loans.

For example, Upstart Personal Loans offers fixed-rate personal loans, which generally range from $1,000 to $50,000. You can repay your loan over three or five years. Interest rates range from 7.8% to 35.99% APR and are based on your credit history, income, debt-to-income ratio, and the loan term. Upstart has no minimum credit score requirement, so you may be able to get approved if your credit history is too short for a credit score. You also need a U.S. bank account and a source of regular income to apply for a loan.