Q. I had a Citibank credit card with a huge balance. Over the past year I've been able to decrease it but it will still take me at least another four to five months to pay it in full. I think my APR is 20%. They've closed the credit card, so I can't even use it. Can I still transfer my balance to another company with a lower APR? Or should I try calling Citibank and request a lower APR?

A.Start by applying for a new credit card with a low (or 0%) APR on balance transfers. If you can qualify for one that offers a 0% APR for at least six months on a balance transfer, it would be cheaper than getting your interest rate lowered by Citibank.

Credit card companies check your credit score before issuing a new card. If your problems with Citibank affected your score, you may not qualify. But it sounds as if you're doing all the right things to rebuild your credit. If you have kept up with your bills and made all of your payments on time over the past year, that should certainly increase your chances.

To look for credit cards with low transfer fees and a 0% APY on the balance transferred check out Interest.com's article on The 3 best cards for balance transfers or you can do a Web search for "0% transfer balance credit cards" and sort through the choices.

If the balance transfer option doesn't work, call Citibank and try to negotiate a lower rate. Since you have been paying your balance down, that will work in your favor.

But before you do that, check our advice on how to negotiate with your credit card company.