Ok, this is a little trick that I learned on tv with one of the money guru's. I tried it and it works most of the time and has saved me hundreds of dollars on interest. However, let me warn you that it only for people that have been on-time at making credit card payments. This is what you do: Call your credit card company and tell them you got an offer for another credit card with a lower rate and that you are thinking about closing your account if they can not meet or beat the offer, or even lower your rate. They may tell you about a promotional rate that is currently available or may trasnfer you to the customer retention department. Not every credit card will always have a promotional rate, so keep calling every so often.
One of my credit cards was at 13.99% and I called and got a promotional rate for 7.99% and then I had a new floor put in my master bedroom. The interest rate has been cut almost in half!
Give it a try and let me know your success stories. themoneyguru2009@yahoo.com
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