With the upcoming holiday season upon us, I thought it might be of some help to some of you if I posted this story of something that recently happened to me. Concerning credit cards!
As I am sure a bunch of you are as guilty of this as I was, this might wake you up and prod you to take some action on your finances.
I recently recieved a pre-approved credit card offer from "Discover Card". I read the offer thoroughly and agreed that this was a card I would like to have. Some of the perks were: no interest on balance transfers until January 08, no interest on purchases until June 07, no yearly membership fee, AND, cash back on all purchases, 1 % or 5 %! Great offer.
My problem was, I already have a few cards and really did not need another one. So, I figured I would pay off, by transfering the balance, one of my existing cards. The one with the highest interest rate and lowest balance. I called this particular card company to tell them what I was doing. They wanted to know why, after all these years, I wanted to leave them. I told them their interest rate was out of line and I did not want to have to pay a membership yearly fee. Not to mention that they did NOT offer cash back. I asked them why I was being subjected to the terms I had on the card when my credit score was approaching 800? The person on the phone, after a brief pause while she pulled my record, told me "she had no idea why I did not have better terms". But, she would be more than happy to lower my interest rate and try to waive my membership fee. Isn't that nice.
The point is, "you need to stay on top of your cards etc". Most of you, like me, have NO idea what your interest rate is and, "whether you can actually get a significantly better deal"! Or, at the least, get your existing deal re-worked.
In closing, "take a couple of minutes of your time and check your stuff out". You would probably be surprised at the amount of cash you are throwing away to these companies. By the way, "the Discover Card deal is worth checking into". Unless, you are one of Bobby Sharpe's "Stupid People"!
Got a comment, post it! Or, email me at reggae8@aol.com .
Peace & Soulz,
Bobby Sharpewww.myspace.com/akuasharpe
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