ATLANTA -- The credit card bills for all those holiday gifts are now due! And if you've got an outstanding balance, you may be taking a closer look at the interest rate! As Consumer Advisor Clark Howard explains.. there is an easy way to get a lower rate for many card users!

Amy Thoreson is a producer at WSB's sister station in Charlotte. She always hits her news deadlines…but missed one with her credit card! Amy's interest rate got jacked up to 21 percent after just one late payment.

It can happen with Visa, Mastercard…any card!

But there is a way to fight back!

Step one: Call your card company and ask them to lower your rate.

If the answer is no, take step two: Ask to speak to a supervisor like Amy did!

Amy says that after speaking to a supervisor, they, "Bumped me down from a 21 percent interest rate to a 12 percent interest rate"

This technique works.. but not for everyone!

Todd Mark with the Consumer Credit Counseling Service says, "Obviously you have more leverage if you have a good payment history with them and a good credit score."

And just the opposite is true for card users who miss or make late payments!

Mark says, "you haven't given them a reason to reward you with lower rates"

Step three: Threaten transfer.

Melanie Johnson wanted a lower rate too, and succeeded with step three!

Johnson called her credit card company and told them, "I'm getting a lot of other credit card offers where I can actually transfer this balance at lower rates. And I'd really rather just stick with you if you'd be willing to work with me."

The competition is fierce for card companies, and it's cheaper to keep a good customer than recruit a new one! That's why Melanie's company agreed to lower her rate 10 percent!

And Amy saved a lot when her rate dropped from 21 to 12 percent on an $8,000 balance! One phone call saved her $720.

Amy said calling was, "definitely worth 5 minutes to save. I'm gonna be able to pay off that debt that much faster."

Clark Howard has this advice, "Here's how i want you to do that. Lay out your accounts, and target the one with the highest interest with the biggest payment each month! Pay minimums on the rest, until you get that high interest account paid off! Then work your way until you're out of debt! And stop charging if you can't pay your entire balance every month!"

If you want more information on getting out of credit card debt, the Web Links section has several links to several good sites.. including Consumer Credit Counseling Service which can help you with budgeting and debt issues.

And finally, we have more useful information about credit cards and changing interest rates!

Opening and closing multiple accounts to chase lower interest rates can have a negative impact on your credit score!

And beware of "zero percent" offers that may have automatic increases included in the fine print of the contract.

Finally, know that even one late or missed payment can mean a huge jump in the interest rate you'll be charged on all your credit cards.. not just that account.