Comments on: 31 Days To Fix Your Finances, Day 25: Evaluating Your Expenses – Credit Cards http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/ Simple, applicable personal finance advice for the modern world Sat, 21 Nov 2009 19:22:21 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Michael http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/comment-page-1/#comment-665457 Michael Sun, 17 May 2009 21:38:42 +0000 http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/#comment-665457 I am on the Dave Ramsey plan and on day 1 I cut up the credit card I am on the Dave Ramsey plan and on day 1 I cut up the credit card

]]> By: Derek Bough http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/comment-page-1/#comment-375214 Derek Bough Mon, 15 Sep 2008 20:41:41 +0000 http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/#comment-375214 Trent, One day after reading this post, I decided to call and try to get a lower rate on my cards. I sorted them by interest rate (high to low) and then started dialing. The first one I called had gone to the default rate a few months ago after I missed a payment by just a couple days. They looked at my overall history with them and lowered my rate from 29.44% to 9.44%, refunded the excess interest and the late fee, and thanked me for my business. That was about a $400 phone call. I called the rest of them with a little less stunning results but did get two annual fees waived for $29 and $19. Close to $450 immediately after about a half hour of dialing. Thanks Trent. Derek Trent,
One day after reading this post, I decided to call and try to get a lower rate on my cards. I sorted them by interest rate (high to low) and then started dialing. The first one I called had gone to the default rate a few months ago after I missed a payment by just a couple days. They looked at my overall history with them and lowered my rate from 29.44% to 9.44%, refunded the excess interest and the late fee, and thanked me for my business. That was about a $400 phone call. I called the rest of them with a little less stunning results but did get two annual fees waived for $29 and $19. Close to $450 immediately after about a half hour of dialing.

Thanks Trent.
Derek

]]> By: rob in Madrid http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/comment-page-1/#comment-22142 rob in Madrid Tue, 01 May 2007 21:07:37 +0000 http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/#comment-22142 "stop using CC for day to day expenses" while it's great idea the problem often is after making all the payments (mortgage car CCs etc) there often isn't enough money left over to pay for day to day expenses. Or if there is you get hit with a huge unexpected bill which wipes you out. This has been our problem. It takes time to pay off debts and to build up some money in the account. “stop using CC for day to day expenses” while it’s great idea the problem often is after making all the payments (mortgage car CCs etc) there often isn’t enough money left over to pay for day to day expenses. Or if there is you get hit with a huge unexpected bill which wipes you out. This has been our problem. It takes time to pay off debts and to build up some money in the account.

]]> By: Trent http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/comment-page-1/#comment-4009 Trent Thu, 25 Jan 2007 22:03:35 +0000 http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/#comment-4009 If you have a low credit ratio (meaning the total of your balances is much, much lower than the total of your credit limits) and have cards besides the store ones that you've had for a long time, I would start gradually cancelling them over a long period. Otherwise, I'd just let them be. If you have a low credit ratio (meaning the total of your balances is much, much lower than the total of your credit limits) and have cards besides the store ones that you’ve had for a long time, I would start gradually cancelling them over a long period. Otherwise, I’d just let them be.

]]> By: Ryan http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/comment-page-1/#comment-4007 Ryan Thu, 25 Jan 2007 21:35:41 +0000 http://www.thesimpledollar.com/2007/01/25/31-days-to-fix-your-finances-day-25-evaluating-your-expenses-credit-cards/#comment-4007 I have several store credit cards that I signed up for to get discounts. Some can be used only in the stores that issued them while others can be used as actual credit cards. since canceling cards at once can damage your credit, how much time should I wait in between canceling these unnecessary cards? I have several store credit cards that I signed up for to get discounts. Some can be used only in the stores that issued them while others can be used as actual credit cards. since canceling cards at once can damage your credit, how much time should I wait in between canceling these unnecessary cards?

]]>