Comments on: Three Reasons Not To Try to Lower Your Credit Card Interest Rate http://watchmymoneymaker.com/2008/01/10/three-reasons-not-to-try-to-lower-your-credit-card-interest-rate/ Financial Voyeurism - Learn as I learn - we're all in this together Tue, 06 Jan 2009 05:08:21 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Chris Huff http://watchmymoneymaker.com/2008/01/10/three-reasons-not-to-try-to-lower-your-credit-card-interest-rate/comment-page-1/#comment-717 Chris Huff Sat, 12 Jan 2008 16:26:18 +0000 http://watchmymoneymaker.com/2008/01/10/three-reasons-not-to-try-to-lower-your-credit-card-interest-rate/#comment-717 If you can afford to do so, ask your bank if they can pay off your credit card balance for you automatically every month out of your checking account. I don't know if all banks will do this, but our credit union does because we got our credit card through them. I don't even have to think about my credit card's interest rate (or about missing a payment), because it's paid off every month automatically. You may ask, "What's the advantage of doing this rather than simply using a debit card?" I can think of one advantage: it improves your credit score. Debit cards won't do that for you. If you can afford to do so, ask your bank if they can pay off your credit card balance for you automatically every month out of your checking account. I don’t know if all banks will do this, but our credit union does because we got our credit card through them. I don’t even have to think about my credit card’s interest rate (or about missing a payment), because it’s paid off every month automatically.

You may ask, “What’s the advantage of doing this rather than simply using a debit card?” I can think of one advantage: it improves your credit score. Debit cards won’t do that for you.

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