Credit Cards Can Be Friendly

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Story Published: Jul 30, 2008 at 10:24 AM EDT

Story Updated: Jul 30, 2008 at 10:30 AM EDT

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Buying now and paying later can wind up costing you more than you realize. But there are ways to make credit cards more cost-effective when it comes to making ends meet.

First, what kind of interest are you paying on that card right now? There's no harm in asking to have the rate lowered, no matter what it is.

One guy who 7 News interviewed, called his credit card company, requested that his interest rate be lowered - - and in just minutes it dropped from 28 percent to 14.9 percent.

The other thing to remember about credit cards, is that using them should benefit you - - whether by way of airline miles, cash back or other rewards you earn through a point system. But always, ask questions first and know the details before signing up.

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