After reading David Bach's Start Late Finish Rich, I decided I needed to take his advice to negotiate a better rate on a credit card. This was an account that we had transferred a balance to at a 0% promotional rate. Because of a late fee, the rate changed to 27%. Yes, 27% As I analyzed our monthly expenses I just prayed that I would be able to reduce our finance charge by $50. So, with fear and trepidation I called Discover Card, and received one of the nicest reps you can imagine. While I couldn't resume the 0% rate, she was able to give us a permanent rate of 10.99%. That will save us just over $60 to start with, and obviously as we pay off the card the finance charge will be whittled away at. What a blessing! I'd much rather keep my $60 then give it to Discover! So, if you have heard on tv to try to negotiate a better rate, I strongly advise you to call your credit card company. David Bach recommends speaking with a supervisor if you can't get help, and to just keep calling back until it is done. I recommend just being humble and honest, as that is always the way to get the best service!
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