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Now, I have never carried a balance nor am likely to carry one (pathological aversion to paying interest) so my question is should I call and ask them to lower the rate?
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What harm can it do to ask?
I asked for a rate reduction on my Bank of America Visa and it shifted from fixed to variable, but the rate was reduced.
On the other hand, the MBNA-now-F.I.A. Visa card I have has kept its rate, despite the three times I politely called to ask.
Your credit record is relatively shorter -- you can get away with applying for a card with a better rate and cancelling the Bank of America Visa. You might not want to, as credit card issuers can change the terms and conditions of the card at will, but it'd be a good idea to bring that to the Customer Service Rep's attention should you call to request a rate reduction.