Cut Your Credit Card Costs with One Simple Call
If you are generally a good credit card customer — you pay your bills on time and avoid going over your limit — you may be able to cut the cost of using your credit card. And even if you do slip up on occasion, you might avoid paying a penalty. Here's how:
Make the call
Most people receive numerous credit card offers in the mail each month (some of us get multiple offers each day!). It's tempting to consider switching cards when you come across one with a lower rate than you are currently paying. Unfortunately the hassle factor of doing that can make switching seem like it's not worth the trouble.
Instead of switching, find the best offer you can and give your current card provider a call. Let them know the rate you've been offered and ask them to match it. They just might. That's because it is often cheaper for the credit card company to keep a good customer than to find a replacement if you leave.
Tip: Be sure that the new offer is not an introductory rate that will climb soon — possibly to one that's higher than what you currently enjoy.
Fighting back on fees
A simple phone call may also be the best defense against a late charge or over-limit fee. If the slipup is an isolated event — perhaps your first in a few years — call your credit card's customer service number and request that the fee be reversed. Depending on your history, they may agree to knock it off your bill immediately.
Just be sure to note the name of the person you speak with and check the following month's bill to be sure the change actually took place. Otherwise you might end up paying interest or even additional fees on the original penalty.
Take the next step...
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