Interest rates are at a 40-year low, but that doesn't mean your credit card company has passed those low rates on to you.

Consumer reporter Becky Thompson teamed up with Consumer Reports to show you how to save money with just a call to your credit card company.

Gina Marie Buonomo called her credit card company and asked if it could lower her interest rate. She got it down from 12.99 percent to 9.99 percent.

Getting your credit card interest rate lowered can save hundreds, even thousands, of dollars.

Take the average credit card debt, which is now about $9000 per household. The average credit card interest rate is 13.77 percent. If you make the minimum monthly payment required, you'd pay $11,690 in interest before you've paid off your debt. But at 9.99 percent, you'd pay $6,210 in interest, a savings of more than $5,000.

Consumer Reports Mandy Walker said, if you've got good credit, you stand a good chance of getting your rate lowered, "Credit card companies don't want to lose you, if you've been with them for a few years and you make your payments on time. Just mentioning those two facts can convince them to bring down your rate down."

It can also help to have on hand some of the credit card offers you get in the mail. They can be a good bargaining tool if you tell your credit card company you're considering switching.

Consumer Reports says the best way to get rid of your debt is to pay more than the minimum required each month.

Consumer Reports says a lower interest rate isn't all you can negotiate with your credit card company. If you pay an annual fee, ask your company to eliminate it. Or see if you can get more frequent flyer miles for your purchases.