Some credit card strategy.
If you ever felt you didn’t have much say in how your credit card company handles you, think again. Below are some ways you can be in control, remember you are the consumer.
You don’t have to play (or pay) by their rules. A credit card company usually will have a minimum amount due. Are you one that pays just that amount? Well this is cleverly calculated to keep you forever as a customer. For example a $4,500 balance will take 44 years to pay off at the minimum amount due. This is even if you don’t put another red cent on the card.
Did you think about interest? Well it is even worse when you calculate the amount of interest you’ll pay on the above example debt. It comes out to a cool $17,000.
Making larger monthly payments is something you can (and should) do to be more in control of your credit card debt.
Do you want a lower interest rate? Do you want to stop paying annual fees? Not interested in paying the $35 late-payment fee? There is something you can do about it. Did you ever think to just ask?
Your lender would rather keep you as a customer, it is cheaper than them acquiring a new customer. Use your leverage.
The worst that can happen is the lender says no. You still have an option here, inform them that you have a better offer from another lender and you would like them to match it or you will be switching to the other credit card company. If they decline this, then switch to the other company. Often enough the original lender will contact you and match the offer.
How about matching your name with some money? It is possible that you are among the many Americans that are on an unclaimed property list which totals into the billions of dollars. It is like finding cash. Do a money search and your unclaimed cash can be found and claimed.
