How to Lower Your Credit Card Debt with a Single Phone Call

When we started with our new credit card everything was fine they gave us 0% introductory APR rate. No problem with that at all, we can go shopping right now, and put some hundreds in the credit card statement bill. The problem starts when the credit card balance amount is going up, and the 0% introductory APR also starts to go up and we just keep making only the minimum payment. And the worst part is when you don't realize that now your credit card APR that once was 0% are now a 17.74% APR or more. This exactly was my case and this all ended with a single phone call my wife made to the bank.

If we continue with our 17.74% APR without making any attempt to stop that, we will end up paying $13,410 in 6 years and 7 months. Now the phone call, I know this is the part that matters. My wife called to know if there were some options to lower the interest, saying to the representative "we are paying too much" and that she was considering moving to a new credit card that offered a lower interest on balance transfers. That was the first panic button activated at their office and they started asking questions to see if we qualify for a lower interest rate.

At that moment I told my wife to say "forget that I am going to move my credit card balance to other bank". This just caused an immediate reaction and the representative said "hold on for a moment please". Then the representative said "forget about all the info we was just asking from you". Great, now they want to listen to our needs. And they offered a 5.00% without any personal information from us, to see if we qualify. That offer was good enough for our personal situation.

Want to know how much we saved from that phone call to our credit card bank? Now we are going to pay the balance in full in less than 5 years. We will end up paying only $8,981 compared to $13,410. That single phone call saved us $4,429. We are now waiting to get the new agreement. With today's economic situation this is a simple task everyone should do to help recover from the present crisis. If you don't have any crisis and your finances are great a simple phone call could save you some money you can spend in your next vacations. Now take advantage of this resource, or just keep making your high interest credit card payments for many years, you decide.