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Calling Your Credit Card Companies

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You may have heard that something to try with your credit cards is to call and see if they will lower your rate. This tactic can work even better if you can threaten to move your balance to another credit card.

I have tried that with credit card #1, the big kahoona. They did lower my interest rate from 9.99% to 7.99%. I was pretty happy with myself and pretty proud that I was able to negotiate a lower interest rate.

Not even two months later, I get a change in terms of agreement from my card. They were raising my rate to 10.99%!! I started to wonder if that was my punishment for negotiating a lower credit card rate. Since then, it has grown and grown to it’s present rate of 16.9%. Have I been late with a payment – no. Have I done anything different – no. They just decided they needed more money from me.

I want to call again so badly, but I am not a fibber. They will see right through me when I say I can transfer my balance (it’s almost $24,000 remember) to another credit card. I have a feeling they will just laugh at me. Times like these I wish I was more agressive. Or at least I’d get a very nice card offer in the mail 🙂

Technorati Tags: credit, credit+card, negotiating+credit+card+rates, lower+interest+rate

Freeze My Credit Card Please

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I read a while ago a little trick to help curb impulse buying with your credit card. You get a freezer-safe container, fill it with water, place your credit card in it and then stick it in the freezer. The time it will take to melt so you can use your credit card will give you enough time to really think about if you need the thing you want to buy.

Technorati Tags: credit, credit+card, impulse+buying