Save Money By Reducing Interest
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Many people do not know this, but you can be saving a lot of money by simply calling your credit card company and asking them for a lower interest rate. A five point difference in your interest can mean thousands of dollars saved over the course of the loan or credit card.
In order to start saving money, call your credit card company and tell them that your current APR is very high. Nicely ask them to lower your rate. If they refuse to lower your rate, tell them that a competitor has offered you a lower rate and you will switch if they do not lower your rate.
The threat of you leaving is good enough for them to change your rate. Call your credit card company today and request a lower interest rate. You will end up saving more money. You will also have a lower minimum payment. If you take advantage of the lower minimum payment and continue to pay slightly more than the minimum, you will end up paying your balance faster.
Do not hesitate; this is the simplest thing that you can do to lower your interest rate. Call your credit card company today and find out if you can get a lower rate.
Posted by jonathan on October 06, 2005 at 01:25 PM