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CNN Live At Daybreak
Dollars & Deals: Bring Down Your Debt
Aired September 19, 2003 - 06:46 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now for "Dollars & Deals" with our consumer guru Clark Howard. And this morning, Clark has a hot tip on cutting your credit card bills.
(BEGIN VIDEOTAPE)
CLARK HOWARD, CONSUMER ADVOCATE: This morning's question is from Sharon in Seattle, Washington. And, Sharon, you got a problem, your credit card interest rate has gone up again. You want to dump them and find a better card and you want to know who has got the best deal.
Well my first rule is the best deal is for you to pay off your credit card balances in full. Don't pay anybody any interest for borrowing on credit cards. But if you are and you got time before you can pay them off, there's a great Web site for you to shop around for the absolute best deal on getting the interest rates lower on your credit cards. This Web site is called CardWeb.com. When you get there, go to their card track survey of low interest rate cards. You'll see the rules and particulars and whether there's an annual fee on any of the cards that will offer you a better deal.
Also want to make you aware that you're going to get a lot of offers in the mail, if your credit standing is good, from people offering you the opportunity to transfer your balance inbound to an extra low interest rate. Could be 2.9, 4.9, something like that, but you need to look out to see if there are any entry fees or any exit fees on any of those offers. If there are any junk fees, then it may really be a junky offer, not the extra low interest rate you seek.
But remember rule No. 1, do not carry a balance on credit cards. Then you know what your interest rate is, it's 0 percent.
(END VIDEOTAPE)
COSTELLO: There you go. Clark will be back next Friday with more "Dollars & Deals." You can e-mail us your consumer questions. Just visit our Web site, CNN.com/DAYBREAK. In the meantime, you can get Clark's money saving tips on the Web. The address there, ClarkHoward.com.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired September 19, 2003 - 06:46 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now for "Dollars & Deals" with our consumer guru Clark Howard. And this morning, Clark has a hot tip on cutting your credit card bills.
(BEGIN VIDEOTAPE)
CLARK HOWARD, CONSUMER ADVOCATE: This morning's question is from Sharon in Seattle, Washington. And, Sharon, you got a problem, your credit card interest rate has gone up again. You want to dump them and find a better card and you want to know who has got the best deal.
Well my first rule is the best deal is for you to pay off your credit card balances in full. Don't pay anybody any interest for borrowing on credit cards. But if you are and you got time before you can pay them off, there's a great Web site for you to shop around for the absolute best deal on getting the interest rates lower on your credit cards. This Web site is called CardWeb.com. When you get there, go to their card track survey of low interest rate cards. You'll see the rules and particulars and whether there's an annual fee on any of the cards that will offer you a better deal.
Also want to make you aware that you're going to get a lot of offers in the mail, if your credit standing is good, from people offering you the opportunity to transfer your balance inbound to an extra low interest rate. Could be 2.9, 4.9, something like that, but you need to look out to see if there are any entry fees or any exit fees on any of those offers. If there are any junk fees, then it may really be a junky offer, not the extra low interest rate you seek.
But remember rule No. 1, do not carry a balance on credit cards. Then you know what your interest rate is, it's 0 percent.
(END VIDEOTAPE)
COSTELLO: There you go. Clark will be back next Friday with more "Dollars & Deals." You can e-mail us your consumer questions. Just visit our Web site, CNN.com/DAYBREAK. In the meantime, you can get Clark's money saving tips on the Web. The address there, ClarkHoward.com.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
