Ask for a rate reduction

How long has it been since you called your credit cards and asked for a rate reduction? If you can't remember, it is time to do it NOW. Nearly all cards have a customer service number on the back of them, simply call and see what they can do for you. If the first person can't help you, don't be afraid to ask to speak to their superviser. You may even threaten to take your business elsewhere, but for every percentage saved, it puts money back into your pocket.

If you have not done it already, CUT YOUR CREDIT CARDS UP! Simply having the cards can give you the temptation to use them. By not charging new items on your card you can stop paying the company interest, and keep the money for yourself instead. If you need to reach them, the same phone numbers etc will also be on your statements.

I am not going to get into how to calculate revolving credit, so lets make a simple example -

• Take 20% off $100 you will pay 20.00.
• If you change that to 15% you have cut $5 off the total.
• If you sill pay the same amount you always did, that savings will come off of your principle, which means you are paying less in interest, which means you will pay your credit debt off sooner without increasing your payment (of course if you can, you should do that as well).