stop whatever you are doing and call you credit card company right now!
I have been telling a friend to call and get her interest rate lowered on her credit card so I figured I should do the same for mine! WELL....to my shock.....when I called they had raised my interest rate SO high without my knowing it that the operator VOLUNTEERED to try to lower it!!! When I asked her what it was she said.....not 20%....not 30%....but 31.49%....I was so mad!!! She said she needed a supervisor to approve to have it lowered so I had to wait on hold. I waited a few minutes and she came back on saying she was unable to reach a supervisor right now but she could have one approve to lower my interest rate and call me back within 24 hours....I told her "i can wait"....she she put me back on hold and in about 5 minutes she came back telling me that the lower rate had been approved and it was now 11.2%....BIG difference!!!
I just don't get how the government lets the credit card companies get away with this. If they RAISE my interest rate they should have to TELL me! I think they should have to tell me BEFORE they raise it! And have to tell me WHY the heck they are raising it! If the government would worry about regulating these companies people would have more money and they wouldn't have to worry about a recession or printing more checks (that put the country in more debt) to send to people who they hope will spend it to get the "economy going again". They could save us alllll A LOT of money if they would just keep the credit card companies in line. I have a feeling though that this won't happen...I think that the government gets some kind of cut from these companies so they can continue to behave this way! It is an outrage!
so stop what you were doing before you read this....get your credit card or cards out....get a pen and paper....can call them all and make note of your current interest rate and ask them to lower it!
I am not going to be using the company I am currently with much longer as I am transferring my balance to a 0% interest card! I recommend you do the same! Otherwise you are PAYING THEM to SPEND your own money! Think about it...it doesn't make sense!
Rant about your interest rates here...I am sure many of you will be surprised when you call too!!!
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Or, a way to save even more money is to pay your credit card off every month!! wow!! I had credit card debt for a couple of years, but then I decided my desires were not worth the interest! If I didn't have the money to pay it off, I couldn't get it. As life changed for me, this got harder and harder to live by, but THANKFULLY Jacob and I have no-- and play to not aquire any credit card debt, only the usual Car Notes and Mortgage payments! When we can afford to pay those off completely---well that will be the day! haha Prayerfully we will continue to be able to pay off what we spend each month, and when spending gets out of hand or as Jacob's job fluctuates, we cut back! This, my friend, is the best plan to live by. We do use our credit card, all the time, but we also pay it off each month! Our rate could be 50%, but if we continue to pay it off each month, they will not make one dime off of us!!! WIsh you the best!
My plan is to pay off the cards! And once i get it on the 0% card...that will happen even faster! I don't use my card anymore either...but when I was out of work ...I used it.
I am doing the Dave Ramsey class right now....and they way he says to live is that you don't have to live with a car payment either! Buy a cheap car (paid in full) and then live like you have a car payment .....but just save the $300 a month (or whatever "car payment" is to you)....and then when you have enough to upgrade cars...sell the used car you OWN and add that money to the cash you have saved and buy a newer car PAID IN FULL! :D
Thanks for commenting and I look forward to more of you comments! :D
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