When a small amount of money is used to pay interest of a debt, and a bigger amount is used to pay the real debt, than your goal of reducing your debt is going to be achieved faster.
Reducing your interest rate, at least on a few percentage points, will allow you to put more money towards your debt every month. While saving $50 or $100 every month may not seam much, if you use those savings towards paying your debt, it might be a great help.  The greater your debt, the more you will save by reducing its interest rates.