Playing the Credit Card Balance Transfer Game

With the majority of credit card companies raising their rates for card holder’s, you could very well find yourself paying more interest on your card balances than you had originally planned on. The good news is you don’t have to take a higher interest rate as the answer!

In fact, as long as you have decent credit, there is no reason why you should accept an interest rate hike from your credit card company. With the economy the way it is, credit cardholders have been reporting that even though they’ve never made a late payment on their cards their interest rates have been increased or their credit limits lowered. If you receive a notice that your rate has been increased, you should take a moment to call them up and request a lower interest rate. If they say there is nothing they can do, you can thank them for their time and let them know you will be transferring the balance to another credit card with a lower rate.