With the debt load that arises from having a mortgage or a credit card, you are probably having to spend a lot more on interest than towards your principal. That is just the way credit works. There is a way you can reorganize your finances to ensure that you get a mortgage or credit card that is actually cheaper. Ask for a lower rate.
It is true that a short telephone call can decrease your interest payments. If you do not make the call, credit card and mortgage lenders have no interest in decreasing your rate of interest. In the case of cheap financing, the squeaky wheel will get the grease. In a 2002 national survey from U.S. Public Interest Research Group fifty customers with varied credit backgrounds called credit card and mortgage companies and requested lower rates. In this study, over half scored lower rates – a whopping 56%. Rates were seen to drop on average from 16% to 10.47. Customers stated that they were quite impressed that their credit cards and mortgages rates were sliced by one third simply through one phone call. It simply flows with the – it doesn’t hurt to ask philosophy. If you don’t ask, you DEFINITELY won’t get it. If...
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