Bargain Basement Credit Is A Phone Call Away
Below is a MRR and PLR article in category Finance -> subcategory Wealth Building.
Bargain Basement Credit Is Just a Call Away
Summary:
Are high interest rates on your mortgage or credit card eating away at your finances? There's an easy way to reorganize your debt and save money: simply ask for a lower rate. Here's how a quick phone call could dramatically reduce your interest payments.Article:
Dealing with the debt from a mortgage or credit card often means paying more interest than principal. But there's a simple strategy to potentially lower your costs?"just ask for a reduced rate.
It might surprise you, but a brief phone call could be all it takes to lower your interest payments. Credit card and mortgage companies typically don't volunteer to reduce rates, but they might accommodate if you ask. A national survey by the U.S. Public Interest Research Group in 2002 demonstrated this: 56% of participants who requested lower rates were successful. On average, their rates fell from 16% to 10.47%. These customers saw their interest significantly decrease, all from a single call.
Why Don’t More People Do This?
Often, it simply doesn't occur to us. We receive a rate, agree to it, and assume it's unchangeable. However, acquiring a new customer costs credit card and mortgage companies hundreds of dollars in marketing. With rising competition, especially from online vendors, they are keen to retain good customers and may offer better deals to do so.
How to Approach the Call:
When you contact your lender, be straightforward:
"Hello, I've received multiple offers to lower my mortgage or credit card interest rates. I’m interested in a better rate. What can you do for me so I don't switch to another company?"
Remain polite and avoid confrontation. It’s true that you catch more flies with honey than with vinegar. If you're not successful at first, don’t hesitate to call again. You might find someone more willing to help, or you might be transferred to a department dedicated to retaining customers.
Take Charge of Your Finances:
If high interest rates are a burden, remember you have the power to potentially change them. Make the most of your money by taking this simple step. You have nothing to lose, and the potential savings could be significant.
Take control and see what a phone call can do for your financial well-being.
You can find the original non-AI version of this article here: Bargain Basement Credit Is A Phone Call Away.
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