[Carnot]

Stupid little thing – if you’re carrying any credit card debt or even if you just use a credit card and pay it off, it never hurts to call and ask for a reduction in the interest rate that applies. Either as a promotional rate or just a general reduction in rate, sometimes. If you’re a card holder in good standing, they will throw you a discount. Easiest money you’ll ever make and only takes a few minutes.

[Mark]

I pay my CC off every month. I have no idea what the interest rate is on any of my cards because it doesn’t matter.

[Max]

When I did have cc debt I had 3 cards. I called them all and they refused to lower the rate. This is a wives tale.

Don’t miss: Love these interest rates. With no effort adding to the saving!

[Max]

When I did have cc debt I had 3 cards. I called them all and they refused to lower the rate. This is a wives tale.

Don’t miss: Love these interest rates. With no effort adding to the saving!

[Kevin]

The 7 credit cards I used to build the pool/patio have 0% interest for 15-18 months. I just called them and they refused to lower the rate.

By The Way, You can check also: Is it better to consolidate high interest credit cards with a loan while in step 2 or just pay off with the snowball?

[Aaron]

The percentage of people who carry cc debt in this group has to be extremely low. A terrible financial move and habit.

[Rolando]

Yes I have done this in the past but your credit score needs to be over 720 and don’t have a lot of outstanding balances on your other cards to be taken seriously by the credit card company. One trick I used to do if I had an unexpected big medical bill or the 15 year old washer just died and I cannot pay in full is open a credit card with one of those up to 21 months of 0% interest on new purchases and pay it down slowly for the next 18 to 21 months til paid off without having to pay any interest on it.

[Kevin]

I would probably look for a balance transfer offers instead. Those are usually a 4-5% fee and 0-5% interest. It beats a 20% negotiated rate. Also my local credit union offers credit card rates in the low teens and will do promo transfers for 6 months at about 4%. The important thing is you really hustle to pay it off during the promo.

[Travis]

I call and ask for a credit limit increase periodically. My Apple Card every 3 months, my Santander every 6, etc. I’m still spending the same amount, but my utilization goes down because the max for each line is so high. Then, when I want to do bigger purchases, I can still take advantage of the perks, and stay under 10%. The credit cards autopay themselves off every month

[Author]

Posts