Did you know that by simply picking up the phone to call your creditors and ask them for a lower rate of interest you can become better off. This really does work especially if you are getting the offers in the post each day you will be surprised at what you can use as a bargaining chip. This is how you can go about getting a better credit card deal.
So yesterday I was flicking through my mail and there it was what I had always wanted a New York Yankee credit card that is going to give me 0% on balance transfers for the next 6 months with an amazing rate for six more months after that. Now that is getting a better credit card deal………Well…….No not really it just means that for the next few months I am not paying interest.
How can this not be a better deal I hear you scream, well the fact of the matter is you can get that deal from your current credit card if you are willing to be a little confident and ask them for the exact same deal that you have been offered to go somewhere else.
The thing that you need to remember is that credit card companies want you to continue paying off the minimum each month so you are paying the interest rates for longer but if you keep calling asking for a lower rate then you will be paying off more and more of your balance rather than just the interest the whole time. The trick is to stay on top of what you owe and make sure that you know that you are getting the better rate all the time. As soon as a credit card company tells you no, CHANGE TO ANOTHER!
BE AWARE that when you take out a balance transfer at 0% for 6 months if you haven’t paid it all off in six months then you will be paying the high rate of borrowing that comes with having a cash advance on your credit card. This is one of the reasons it is not such a good idea to keep hopping from one to another, eventually you will make a mistake and they benefit not you.
Take control of your situation and let them know that you are aiming to pay off the debt rather than continue to stay in debt. It will make you feel more in control. Make sure that you are getting that better credit card deal.