Tell your credit card company you wish to repay your debt but a lower interest rate will prevent you from defaulting. This bargaining tactic will most likely result in a better rate for you, allowing you to save money while you become debt free. ---- Read more: https://topmoneyhacks.com/2016/08/05/a-lower-rate-will-prevent-default-how-to-bargain-a-lower-interest-rate-on-credit-card-debt/ ------ #Frugal #MoneyHacks #Lifehacks
Spending more money than you earn is common practice in the U.S., and increasingly in other countries around the world. Credit card companies have simplified the process so much that it requires quite a bit of discipline to live only on the money you make. This is a difficult task, but it is the first step (and most crucial) for most people to financial freedom.
By putting down a cash deposit with a credit card company, you can secure a line of "credit" that gets reported to the major credit reporting agencies. Utilize the card to your best advantage and it's pretty much guaranteed to help improve your credit score.