Different card companies handle this differently (I worked for one for many years). Usually, there needs to be an offer available on your account, you need to have had the account open for a certain amount of time (which varies based on issuer and card type), the account MUST be in good standing (not over limit or past due), and you should be utilizing the credit limit within their standards (which could mean paying in full or keeping it within 30% of the limit depending on the issuer). No matter what, if the card is in good standing, you can always call and ask what the offers on your account are for lowering your APR and modifying/adding to/adding on a rewards program. In some instances, it may even be advantageous to increase or decrease your credit limit as well.
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