Financial Literacy Month – Tip #18

Yesterday’s tip was to highlight the interest rate on all credit card / loan payment statements. Grab the stack of statements, call each credit card company and negotiate a lower interest rate. If an account is in good standing, creditors will often lower the rate to maintain the relationship.

A lower interest rate can reduce the payment, improve monthly cash flow and save you thousands in interest. Keep your statements handy, more to follow tomorrow!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s