With all the hoopla about credit cards (including my most recent credit card debate) I can’t believe I almost forgot about this week being the Credit Rate Reduction Rally, as declared months ago by Randy at Watch My Money Maker.  I loved the idea when it was announced, and even wrote it down…but my desk is the antithesis of organization LOL so that note is nowhere to be seen now.

For those of y’all still reading here, the idea is simple: call up your credit cards and ask them to lower your interest rate!  PaidTwice’s assessment is the worst they can do is say no, while the best is that you pay less in credit card interest.  NCN over at No Credit Needed said he called the credit card companies to ask for lower interest rates every single month when he was getting out of debt…and it worked!  And I don’t think there is anyone who can argue with NCN’s success since he is debt free and loving it.

Did  I mention how much I love this idea?  Just think about it: it’s right after the holidays and people are getting their credit card statements in the mail and immediately reaching for the antacid tablets.  Now is the perfect time for consumers everywhere to get mad, cut up the credit cards, then call the companies and ask for those interest rates to be reduced!  Hop on the bandwagon, because the revolution appears to be starting already.

With all the rumblings in the media about a potential American recession it truly is the perfect time to lower your expenses, budget aggressively, and get out of debt.  It’s the best cushion against Murphy’s Law and an economic downturn.

Yes, I killed off our credit card balances over the summer, so I can (happily) no longer particpate in this … but I can urge those of y’all who do still have credit card balances to join in the fun!  While you’re at it, tell a friend or two.   I think it would be a great way to start 2008.

Let it all start with a simple phone call.  Work your way through the automated answering maze, get a live person, and sweet talk your way into paying less credit card interest this year.  Gee, that sounds like a nice (late) New Years resolution to boot!