Dear Readers of Get Out of Debt,

Today, I have finally done my homework. I have called my credit card issuer for my credit card #1. My current balance stands at $7217.90. The intend of my call was to get a reduction of my interest rate. Here is how the call went:

Hi Mr. X,

Q: Do your bank offers a reduced interest rate option on my card?

A: Not really for this card, but we can offer a special card with reduced interest of 11.90%.

Q: Can you transfer my full balance?

A: Yes, we can transfer the balance and we can get provide that new card for an annual fee of 20$. Your present card cost 120$ in annual fees and 19.90% in interest rate.

Q: How soon can I get the new card?

A: We can mail you the card and you will get it in two weeks. The balance transfer can be done right away.

I jumped on the occasion. The card is in the mail and I will save a lot in interest rate.

Thank you and regards,

Eric

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