Financially speaking, being “average” in this country means hefting around a fair amount of debt.

According to some sources, the average American household has $8,000 in credit card debt alone. And some experts warn that that figure might be misleading because many people carry no debt on their plastic, meaning that those with any debt at all may have significantly more than $8,000.

Luckily, there may be one way to save money you haven’t tried yet – and it won’t cause any serious sacrifice on your part – it won’t even require you to leave your house.

Step 1: Do a Little Digging

You’ve probably received credit card offers in the mail that offer temporary 0 percent interest rates on transfer balances or other attractive terms. Card issuers advertise in this way to encourage those carrying a balance on current credit cards to switch to their card.

Often, these offers are not as attractive as they initially seem, so actually transferring your funds may not be a good idea. But, if you can find an offer like this one, either online or in your mailbox, you could use it as a bargaining tool with your current credit card to get lower rates now.

Step 2: Dial Your Credit Card Company

Yes, we know: voluntarily contacting your creditors may sound about as appealing as eating a box of cigars. But consider this: a relatively brief phone call could save you serious money if you’re carrying a balance on your credit cards.

Before making the call, though, consider the following:

Are you current on payments? If you’ve missed or been late on several payments, your creditors may not be willing to work with you. Consider stepping up your payment efforts for a few months and then proceeding.

Do you know your current interest rates? It’s important to know exactly what your current situation is so you know what would, and what would not, be realistic to ask for. You can find this information on your latest bill.

How much money are you looking to save? If you’re currently paying 19 percent interest on a card, figure out how much you’d save if you were paying 15 percent interest, 10 percent interest, etc. If one card company is particularly difficult to deal with, you can write them off and move on to a card where you stand to save more cash.

What other offers are out there? Drop the names of other card companies and offers you’ve found. A threat to transfer your balances will seem more real if you can provide specifics.

Are you considering bankruptcy? If bankruptcy is a real option for you because of your current debts, be sure to mention this to your card issuer. The company will likely benefit more from cutting your interest rate than from having you discharge your debts by filing bankruptcy.

Step 3: Just Ask

When you’re on the phone, simply ask for a interest rate on your credit card – it’s that easy. The worst that could happen is that your interest rates will remain the same and you’ll pay what you were prepared to pay before you made the call.

And, in a best-case scenario, you could save yourself hundreds of dollars in interest payments! So go get your phone and see if you can cut your credit card bills.

How to Save Money from Your Phone

Financially speaking, being “average” in this country means hefting around a fair amount of debt. According to some sources, the average American household has $8,000 in credit card debt alone. And some experts warn that that figure might be misleading because many people carry no debt on their plastic, meaning that those with any debt at all may have significantly more than $8,000.

Luckily, there may be one way to save money you haven’t tried yet – and it won’t cause any serious sacrifice on your part – it won’t even require you to leave your house.

Step 1: Do a Little Digging

You’ve probably received credit card offers in the mail that offer temporary 0 percent interest rates on transfer balances or other attractive terms. Card issuers advertise in this way to encourage those carrying a balance on current credit cards to switch to their card.

Often, these offers are not as attractive as they initially seem, so actually transferring your funds may not be a good idea. But, if you can find an offer like this one, either online or in your mailbox, you could use it as a bargaining tool with your current credit card to get lower rates now.

Step 2: Dial Your Credit Card Company

Yes, we know: voluntarily contacting your creditors may sound about as appealing as eating a box of cigars. But consider this: a relatively brief phone call could save you serious money if you’re carrying a balance on your credit cards.

Before making the call, though, consider the following:

Are you current on payments? If you’ve missed or been late on several payments, your creditors may not be willing to work with you. Consider stepping up your payment efforts for a few months and then proceeding.

Do you know your current interest rates? It’s important to know exactly what your current situation is so you know what would, and what would not, be realistic to ask for. You can find this information on your latest bill.

How much money are you looking to save? If you’re currently paying 19 percent interest on a card, figure out how much you’d save if you were paying 15 percent interest, 10 percent interest, etc. If one card company is particularly difficult to deal with, you can write them off and move on to a card where you stand to save more cash.

What other offers are out there? Drop the names of other card companies and offers you’ve found. A threat to transfer your balances will seem more real if you can provide specifics.

Are you considering bankruptcy? If bankruptcy is a real option for you because of your current debts, be sure to mention this to your card issuer. The company will likely benefit more from cutting your interest rate than from having you discharge your debts in a bankruptcy filing.

Step 3: Just Ask

When you’re on the phone, simply ask for a lower interest rate on your credit card – it’s that easy. The worst that could happen is that your interest rates will remain the same and you’ll pay what you were prepared to pay before you made the call.

And, in a best-case scenario, you could save yourself hundreds of dollars in interest payments! So go get your phone and see if you can cut your credit card bills.