I just got this email from my client, Dave:
*******************
Dave J to me
show details 1:35 PM (13 minutes ago)
Hi Ken,
I took the advice of your client newsletter of a few weeks ago about getting a lower rate on my credit cards. My first attempt a couple of weeks ago was contacting U.S. Bank who wouldn’t budge on their 12.00% APR. That told me I was probably getting their best rate possible. Just a few minutes ago, I called Citibank about my rate which had increased to 19.99%. This sudden rate increase was after a 0% APR offer had expired.
The first person that I spoke with, located in their Kansas City office, was only able to lower my rate to 18.99%. However, SHE OFFERED to transfer me to a supervisor for further review of my account. In that subsequent conversation I referenced my relationship with Citibank that dates back to 1992. Also, I stated that the other credit cards in my possession were offering 8% and 12%. That Florida based supervisor quickly reviewed my account and immediately offered an 11.99% rate for the next 6-months (which is prime rate of 3.25% plus 8.74%.)
Assuming that I will pay off my card balance in the next 6 months this rate modification will provide a savings of over $1,300. That is money that I would have lost if I had not closely read my statement for the rate change and made a phone call. Not a bad return for a 5 minute investment.
Thanks for the sound and practical financial advice. Keep up the great work. I actually look forward to receiving your emails every Saturday morning!
Regards,
Dave J
******************
By the way, Dave owns "Roadside Advertising" in Temecula. If you need any type of advertising signage, he's your man.
43040 Rancho Way
Suite 300
Temecula CA 92590
951-506-6633
http://www.RoadsideAdvertising.com
******************
