Reduce your Credit Card Interest Rates

Did you know that you could be paying hundreds of dollars in interest every month that you don’t have to pay? Many Americans pay their credit cards late and even just one small slip-up and you could find your interest rate up at around 30%!

The problem is, most people think there is nothing they can do. They say, “I made a mistake and now I’m paying for it!” Well I’m here to tell you that you can correct that mistake and save yourself hundreds or thousands of dollars a year – and it is much easier than you might think!

So how can you bring down the interest rate on those pesky credit cards? Easy – make a phone call. Call your credit card company and let them know that you would like to discuss with them how you can reduce your interest rates. In many cases they will be able to do something for you right-away – surprised? Don’t be – very few people think to do this.

What if they won’t reduce your rate? Well then you need to ask yourself, “is this a card I still actively use?” If the answer is “no” then you can take the next step. Tell the agent on the telephone that you want to look-into getting on a “payment plan.” They will send you to another department that can offer you a VERY low interest rate however you’ll have to stop using your card.
Going on a payment plan can be a great way to pay-off a maxed-out card quickly and without giving-away a third of each monthly payment to the credit card company. Many payment plans offer rates of 5% or less so this could mean a huge savings for you and expedite the time it takes you to pay-off your card.

Stop paying high interest rates! Pick-up the phone and call your credit card company and take the money you save and put it into your emergency fund. This one phone call could save you thousands of dollars and get your emergency fund moving in the right direction!