December 12,2006

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  How a 3-Minute Call Could Save You $$$

  A Pittsburg, PA –based news station reported recently that consumers may have more leverage than they might expect in negotiating their interest rate with their credit card company.

  
  Assuming the consumer has good credit, the report details, the credit card company will, more often than not, agree to a consumer's request by phone to lower their interest rate. It may take a bit of assertiveness, and asking to speak to a supervisor after an initial "no." However, an informal experiment performed by a reporter for the news station on Black Friday (the day after Thanksgiving) this year showed that all 4 of 4 consumers enlisted to try out the plan got results.

  
  The key fact to remember, the report states, is that credit card companies want your business – therefore, you are in charge. By asking politely for a decrease in your APR (especially if you say that you have received offers from their competitors at lower rates) and showing your willingness to jump through a few hoops, you stand a good chance of saving heaps of money with a simple phone call
  
  
  
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