I too knw about this... infact i have even done this a month ago.. I had purchased a Washing Machine on EMI.. i paid 8 out of 12 EMIs on time everytime.... and being there customer for the last 2 years... i gave them a call asking for lowered int. rate.. they offered me the following: - Reversal of my processing fees of the EMI... - Gave me 200 reward points... - And low interest on the remaining 4 EMIs.... Indeed nice... one should always try it... who knws you must me a valued customer in there eyes.. also there is no harm in tryin...
This is a good tip. The best way to save money is to pay your credit card off in full every month. That way it doesn't matter what your rate is.
Exactly. You could have an APR of 99.9%, but aslong as you don't carry a balance from month-to-month, it doesn't matter and you only pay for what you've spent. My Chase Freedom credit card gives me cashback for every purchase that I make. Out of the two-months that I've had it, I've made over $100 and I haven't paid a cent of interest.
Although this is true, it is also a fact that most people actually do carry a balance on their cards. It's easy to say "pay your credit card every month in full" but when the car breaks down, the kids or you get sick, and for whatever else comes up unexpectedly most people do not have that luxury and it is often these situations along with a high rate that goes unadjusted which makes a balance stay on the card for a long time. Also i know i have said this earlier in the post but i really have to insist on the fact that IT DOES NOT MATTER if you carry a balance on your card. As long as you make your minimum payment consistently, you deserve a lower rate and should ask for one.