Hi Everyone! We are in the beginning stages of building this site and hope that you will join us as we update the site with valuable financial information that you will be able to benefit from.
In the coming weeks, you can expect to find many interesting up to date financial facts. We will provide you with what's hot in financial news and will also privide you with some valuable tips and tricks of the financial world that can save you money.
Here is just a sample of what tips and tricks we're working on:
* Did you know that it is possible to get your interest rate on your credit card lowered by simply just asking?
We will tell you how.
* Did you know that if you are charged a late fee on your credit card or ATM fees or returned check fees on your checking account, you just may be able to get those fees removed?
We will tell you how.
* Did you know that having too many credit cards, whether they are in use or not, can get you declined for credit?
We will tell you why.
* Did you know that a Home Equity Line of Credit is a very smart way to borrow?
We will tell you why.
Please bookmark us and come back often because we are here for YOU. If you have any topics that you would like to see discussed on our site, please feel free to comment below and let us know!
-- L. Morse
Labels: bank reviews, credit cards, financial news, financial tips, how to save money
2 Comments:-
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Hi Laurie, welcome again to the Help Web!
Your first blog entry here reminded me of a question I have: In general, how long do you need to be paying well on a credit card before you can ask them to lower the interest rate? I've had some bad accounts that now have really high rates, but we'll be on our feet in a just a few short weeks. After we pay on time and above the minimums for a while, when can I call up and reasonably expect a rate change?
Thanks!
By
Homeschool Help Web, at April 18, 2007 1:58 PM
Thanks for the question and a good one it is. About 75% of credit card companies include a penalty rate clause with their credit card offers. This clause states that your rates can increase dramatically if you make a late payment on the account. The average penalty rate on a credit card is a whopping 23%. After about six months of on-time payments, most creditors will consider lowering your APR again.
Give them a call, explain that your late payment situation was an isolated one, and point out that you have now been paying on time for six months or more and ask for the rate to be lowered. They may offer you a lower rate but probably not a dramatic one. Wait a few more months and if you have been continuing to pay on time, request the rate to be lowered again. All they can do is say no right? Chances are they won't.
Remember, if you don't get the satisfaction you are looking for with the first person you talk to, tell them you know they are limited as to what they can do and nicely ask for a supervisor. You will have much better luck that way.
Hope this helps!
By
Financial Help Web, at April 23, 2007 8:56 AM
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