Repair Credit Fast “secrets” help Rebecca put more money in HER pockets while saving her credit at the same time. Combine clear strategy with ACTION and you have yourself an amazing recipe for success.
Rebecca, one of my “inner circle coaching club” students shared a fascinating little (well, I wouldn’t call it “little”) discovery with me the other day about slashing credit cards.
Rebecca’s “discovery” is quite clever, and she wants to share something “killer” with you.
Rebecca was 3 or 4 months behind on the minimum payment on her Bank of America Mastercard.
And the big-bad alligator with ferocious chompers was bearing down on her…with penalties she owed about $500 minimum.
Her total balance on the card was about $4,000. Her LIMIT was $2000.
OUCH! So even on months when she was up to date she was getting hit with a $29 overlimit fee. This ate up most of her minimum payment.
Click Read More below now for secret recipe Rebecca discovers.
REBECCA’S SECRET RECIPE DELIGHTS HER!
When she opened one of the weekly collection letters, she found a surprising offer.
Terms of the OFFER: Pay $190 NOW and Bank of America would agree to report Rebecca’s credit card account “Pays As Agreed” AND for (one) year reduce her interest rate to 6%, down from a whopping 29%.
**NOTE** Are you up to speed on what “Universal Default” is? If not, check out my blog posts. In essence, universal default is an insidious trap devised by the credit card issuers (banks) to kick your ass. When you miss a payment on one card, every other credit card issuer now has the legal right to explode your interest rate to the legal maximum, i.e. ~29%. Rebecca had other cards as well, and this interest rate explosion hit hard.
How do you think Rebeccas reacted to this offer in the mail? Ding-ding-ding, you’re right! She thought it was too good to be true. And so did I when she emailed me.
I suggested she call them to get the scoop. I shared a couple questions to ask. She made the call and sure enough, it appeared to be a legit offer…even the small print appeared legit. At the end of the call the customer service rep asked if there was anything else she could do for Rebecca.
Rebecca quickly used a “Jedi Mind Trick” on the unsuspecting Customer Service Rep (CSR)….
Without hesitation, Rebecca politely thanked the CSR for this opportunity to return to good standing with BOA and ASKED the CSR to refund the $29.00 overlimit fee (x 4 months) assessed to her account. Guess what?
As a “one-time courtesy for making the call & accepting the offer,” the CSR was able to reimburse those fees!
WHOA! Just for taking ACTION by making one simple phone call, Rebecca scored BIG….
1. She now has a viable solution for getting out of credit card debt.
2. She will EARN a favorable credit reporting, i.e. “pays as agreed.”
3. She returns $116.00 back into her account.
4. She gets to sleep better at night…again. PRICELESS!
As expected, Rebecca could not have been happier! Take a guess what Rebecca will do in the next year? Yep, she’s gonna get that card paid off!
You see, sometimes big (and small) business gets it RIGHT! Instead of refusing to work with Rebecca or insisting Rebecca fit into BOA’s nice little box, Bank of America (in this instance) presented Rebecca with a compelling offer that worked for her (in turn, this offer benefits BOA as well).
Not all debtors are deadbeats!
Some debtors WANT to pay back their legitimate debt. Please, don’t destroy it by hitting people with outrageous fees, late charges, etc to make your point. Work with people who want to pay off their debts.
Now, I’m not recommending you fall three months behind on your payments but this situation shows what (might) happen when you you ASK for something.
Even if you do NOT receive a similar offer in the mail as Rebecca, do this now with credit card debt:
1. Contact your credit card issuer (bank) immediately and ask to speak with a supervisor.
2. Ask for help in bringing your account current…get any agreement in writing…from a supervisor.
3. Tell them you’re really serious about straightening things out (your debts) and you’re asking for their help. Be certain to say it just like this!
Rather than switching cards to get a lower rate, take action now by calling the bank for help.
Ask for their help.
Repair Credit FAST secrets like this one can & will help you put more of your money in your pockets while helping you settle legitimate debts. Of course, this also is good for your creditors who get the money they deserve. Promise me you will make a call in the next few days and then do me a favor: tell me how it goes.
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