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 It’s August. But you’re still paying of last years Christmas bills. Sound familiar? Here's two easy ways to get credit card debt paid off cheaper with no help from debt counseling services: Attack the interest rate. Sound crazy? Well, I have personally tried this and it worked for me when I called up Bank of America. I said "Look, I've paid on time every month since I've had this card. I found another card that I can balance transfer to with a lower interest rate. If you can't lower my rate to 6%, then I am going to transfer the balance in full to this other card." What do you know; they lowered my rate from 18%. Let's say I had a $3000 balance on my card. I just saved myself $756 over the course of one year. On fool.com, they report that more than half of people who call to lower their interest rate are successful at lowering their rate by one-third. Another option available is always balance transferring to a 0% intro rate card. Of course, there are always catches with balance transfer cards. First, don't put any new purchase charges on the balance transferred card, since these purchases often have high interest rates. Second, pay all bills on time - not just this card. Lenders check this regularly and you don't need an excuse for a higher rate. Third, put a big red X on the day the rate expires and make sure to have the card balanced transferred before that date or paid off. I would try the first solution first, since applying for 0% balance transfer cards and then getting denied may hurt your credit score. And your credit score can be worth the numbers in gold, saving you chunks of money throughout your life. The typical American family starts of the holiday season in October, overspending on frivolous expenses by hundreds, sometimes thousands of dollars. Here are some tips to ease your credit card spending over the holidays: First, only three things should be being bought before December: Plane tickets for travel, hotel and rental car if needed for your Christmas vaca. If you aren’t traveling then you can skip this step, of course. The best rates for holiday travel are often long before the holiday season starts. Second, the best time for gift buying is when you already have picked out names and know all the parties you are going to be needing to be bringing presents to. Avoid random impulse buys thinking “What if I get Stella’s name in the hat drawing at this years Thanksgiving drawing?” Some stores charge up to 20% restocking fee, so don’t buy it if you aren’t sure you want it. Also, you may have to be holding on to the receipt awhile, and some stores will make you exchange for items in-store instead of exchanges. Can I stress any further, buy only what you are SURE you will be giving. Third, shop online first, in stores second. Often you will find a stellar deal online, only to find better ones in stores. Make sure you know what prices are in both worlds before making any purchase; some things are cheaper online but require shipping, so keep that hidden cost in mind as well. Cheers, and although it’s only August, have a super-saving holiday season! Published: Sunday 7th of September 2008 03:21:26 PM For more information on credit cards and related topics, please see our library of articles. 
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