The importance of asking questions

A lot of companies out there are getting big money to help you save on your debt. But you can do the same thing they do. And like any other do-it-yourself project, it will leave you feeling heavier of pocket, stronger of heart, and lighter of worry.

Many people are intimidated by creditors. But there's no need for that. Credit card companies are businesses, and they want to keep you as a customer. If you're not happy with the way your card is treating you, tell them, and they'll usually fix the problem just as a good restaurant will fix your meal if it's bad.

If you made a payment late, call the credit card company and apologize, make a half-hearted attempt at explaining why the payment was late, and that this isn't something you normally do (even if it is). Ask to have the fee removed. Most of the time, the first person you talk to will be able to take the fee off without any trouble.

Sometimes it's harder. The longer you wait and the farther back in your statement the late fee appears, the less likely representatives are to help you. If the first person you talk with won't help, ask to speak to a supervisor. They will usually be able to do it.

The same goes for credit-line increases and reductions in interest rates. You will likely have to apply for a credit-line increase. If you aren't getting what you want, threaten to close your account. But don't do this unless you can actually follow through. Have a back-up card at the ready.

They say it's always the squeaky wheel that gets the grease, and that's the truth. Credit card companies won't usually give you anything unless you ask for it, and asking shows that you're an involved customer who cares about his or her finances.

-Amanda H. Miller