Comments on: Guest Post – How The “Digging Out Of Credit Card Debt Challenge” Improved My Outlook On Life. http://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/ A place to discuss money...for the rest of us. Tue, 22 May 2012 00:24:51 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: UK Debt Blog » Guest Post - How The "Digging Out Of Credit Card Debt Challenge …http://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-21123 UK Debt Blog » Guest Post - How The "Digging Out Of Credit Card Debt Challenge … Mon, 17 Sep 2007 18:46:49 +0000 http://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-21123 [...] Tricia wrote an interesting post today onHere’s a quick excerptOn July 16, David started his series right here at My Two Dollars called "The Start Digging out of Credit Card Debt Challenge". I am in a pretty significant amount of debt, about $5500 of it credit card debt. … [...] [...] Tricia wrote an interesting post today onHere’s a quick excerptOn July 16, David started his series right here at My Two Dollars called “The Start Digging out of Credit Card Debt Challenge”. I am in a pretty significant amount of debt, about $5500 of it credit card debt. … [...]

]]> By: You never know until you ask | I've Paid For This Twice Already...http://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-20868 You never know until you ask | I've Paid For This Twice Already... Fri, 14 Sep 2007 10:25:07 +0000 http://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-20868 [...] interest rate I was paying. This is something I should have done a long long time ago, and I credit David at My Two Dollars for giving me the final kick in the pants I needed to accomplish it. Calling my credit card company [...] [...] interest rate I was paying. This is something I should have done a long long time ago, and I credit David at My Two Dollars for giving me the final kick in the pants I needed to accomplish it. Calling my credit card company [...]

]]> By: Mike about Moneyhttp://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-19513 Mike about Money Wed, 29 Aug 2007 13:59:49 +0000 http://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-19513 This is a good time to ask for a lower interest rate but the door is closing as the delinquency rate on Credit Cards is moving up (4.58% of payments were written off in the first six months of 2007), and Credit Card issuers will be scrambling to maintain their balance sheets for Wall Street. The main way to make up for losses is to keep interest rates as high as possible for those who do pay their bills on time. If you've made at least 12 ontime monthly payments, you are a candidate for a lower interest rate under normal conditions. Quick Tip: If they tell you no because you are at the lowest rate your "card program" allows, ask them to move you to another Card. Most issuers offer many different types of card accounts and they may have different ranges of interest rates they offer on the low end. Your credit score still ultimately controls what they will let you do, but by asking to be moved you may get the lower interest rate without having to apply for a new card. Mike about Money This is a good time to ask for a lower interest rate but the door is closing as the delinquency rate on Credit Cards is moving up (4.58% of payments were written off in the first six months of 2007), and Credit Card issuers will be scrambling to maintain their balance sheets for Wall Street. The main way to make up for losses is to keep interest rates as high as possible for those who do pay their bills on time.

If you’ve made at least 12 ontime monthly payments, you are a candidate for a lower interest rate under normal conditions.

Quick Tip: If they tell you no because you are at the lowest rate your “card program” allows, ask them to move you to another Card. Most issuers offer many different types of card accounts and they may have different ranges of interest rates they offer on the low end. Your credit score still ultimately controls what they will let you do, but by asking to be moved you may get the lower interest rate without having to apply for a new card.

Mike about Money

]]> By: glblguyhttp://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-19462 glblguy Wed, 29 Aug 2007 00:51:55 +0000 http://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-19462 Good for you! I did this with Chase about 2 weeks ago. Same deal as you, only a point, but it was something! Good for you! I did this with Chase about 2 weeks ago. Same deal as you, only a point, but it was something!

]]> By: Lynnaehttp://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-19454 Lynnae Tue, 28 Aug 2007 22:36:38 +0000 http://www.mytwodollars.com/2007/08/28/guest-post-how-the-digging-out-of-credit-card-debt-challenge-improved-my-outlook-on-life/#comment-19454 Good for you! Doesn't it feel awesome when you convince the credit card company to lower your interest rate? It's empowering! Now I need to go find out about this challenge... Good for you! Doesn’t it feel awesome when you convince the credit card company to lower your interest rate? It’s empowering!

Now I need to go find out about this challenge…

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