Stranded

I am effectively stranded at my apartment this weekend. Stuart has been having some health issues this week, his engine coolant has been leaking and causing a fever. We are going to the Mini dealership in San Antonio tomorrow so I'm trying not to drive anywhere this weekend and allow him to rest up for the 1.5 hour trip. So far, I have read two books and cleaned my bathroom. Reorganizing my linen closet is next. Yes, I certainly lead an exciting life!

Pocket Susan Advice: Negotiate for Lower Credit Card Interest Rate. In an ideal world, we wouldn't have to use credit cards, but most of us have at least one or two. Even if you pay off your full balance each month, it's still a good idea to have the lowest possible interest rate on your card. Just in case. Today's advice comes from financial experts, Ken and Daria Dolan, (http://www.dolans.com/).

With your account number in hand, call your credit card company andd say, "I'm calling about account number XYZ. I have been a good customer for (the number of years you've had your account.) I have gotten quite a few offers for credit cards with much lower interest rates than you are charging me. I would like to keep giving you my business but cannot do so unless you can lower my interest rate today." The person on the other end of the phone will probably respond something along the lines of, "Oh, that's just an introductory rate - you'll end up paying much more when the real rate kicks in within a few months." We want you to respond by saying, "I understand that this is an introductory rate, but even after the permanent rate kicks in, their rate is still lower than what you charge me. Can you lower my rate or should I take my business elsewhere?"

Now, don't be at all nervous about making this phone call. Either your credit card company says yes or they say no - no big deal. Worst-case scenario: They say no and you still lower your interest rate by opening a new account someplace else. Is that so terrible? We don't think so! Best-case scenario: They say yes and you immediately start saving money with a lower interest rate on your balance! Worth a five-minute phone call, wouldn't you say?

Note: I did this yesterday as one of my stranded projects. Discover lowered my rate by 7%.