Hi David… I recently picked up your book Start Late Finish Rich after reading a reference about it from Rule #1 author Phil Town. I’m in my mid 30’s with some significant credit card debt and no savings or investments.

Anyways, I’ve starting going through my “to do” lists at the end of every chapter. On the chapter about credit card debt, you recommend asking credit card companies to lower interest rates on credit cards that have a balance. I have a whopper of a Master Card with a $7000 balance and a 19.99% interest rate. I did the research into competing offers with lower interest, and called my credit card company to see what they would be willing to do. I honestly expected them to turn down my request, even with the threat of transfering my balance to another competing company. When the first customer service rep asked how he could help me, I simply said “I want a lower interest rate on my card”, and he immediately transferred me to a supervisor.

When she got on the phone, she only said “I understand you want a lower rate on your card. We can drop it 5 points for you.” No questions asked. No argument. I didn’t even have to mention any competitive offers. Anyways, I was surprised and quite happy to say the least. The first month worth of interest savings has paid for your book, and will make a nice difference over the course of the year. I still have lots of work to do getting my ducks in a row, but I’m encouraged so far by the good advice you’ve given. Thanks! You’ve saved me some cash!