Comments on: When did Customer Retention die? http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/ Personal Finance and Wealth by the Penny Fri, 25 Jul 2008 10:07:03 +0000 http://wordpress.org/?v=2.6 By: thatedeguy http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/#comment-153 thatedeguy Sun, 02 Jul 2006 03:02:09 +0000 http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/#comment-153 Alberen, I'm sure that many of my readers would love to hear what your system is. I notice that you've recently started a blog at http://moneythinking.blogspot.com . How about sharing your system with the community through that. It could make great reading, especially if it's a good system. While you're at it, head on over to pfblogs.org and pfblogs.com and get yourself added to their rosters. It's a great way to get your name out and share with the pfblogger community. Alberen,

I’m sure that many of my readers would love to hear what your system is. I notice that you’ve recently started a blog at http://moneythinking.blogspot.com . How about sharing your system with the community through that. It could make great reading, especially if it’s a good system. While you’re at it, head on over to pfblogs.org and pfblogs.com and get yourself added to their rosters. It’s a great way to get your name out and share with the pfblogger community.

]]> By: Alberen http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/#comment-152 Alberen Sat, 01 Jul 2006 06:56:03 +0000 http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/#comment-152 Wow, man, it is a tough situation. Do you really have your money under control so that you won't go further into debt? It is VERY easy to fall back into debt. Do you have a budget you are working? If not, or if you are having trouble then let me know by posting a comment on the blog. I have a great system that I'll show you (no cost or spam or anything...ask me anything you want about it.) Wow, man, it is a tough situation.

Do you really have your money under control so that you won’t go further into debt? It is VERY easy to fall back into debt.

Do you have a budget you are working? If not, or if you are having trouble then let me know by posting a comment on the blog. I have a great system that I’ll show you (no cost or spam or anything…ask me anything you want about it.)

]]> By: thatedeguy http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/#comment-151 thatedeguy Thu, 29 Jun 2006 18:35:52 +0000 http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/#comment-151 Rich: You are completely right. Using a Secured asset to pay off unsecured debt can be a big blunder. Unfortunately, sometimes there is no other option. The reduction in payment and interest will allow my Wife and I to get ahead. It takes some willpower to pay everything off and in our position it was the best choice for us. The key phrase you use is "if you continue to incurr credit card debt." As I mentioned in my post, you MUST close the cards and discontinue using them. If that is done, I don't consider it a blunder at all, but a sound financial step to a better financial future. Rich:

You are completely right. Using a Secured asset to pay off unsecured debt can be a big blunder. Unfortunately, sometimes there is no other option. The reduction in payment and interest will allow my Wife and I to get ahead. It takes some willpower to pay everything off and in our position it was the best choice for us.
The key phrase you use is “if you continue to incurr credit card debt.”
As I mentioned in my post, you MUST close the cards and discontinue using them. If that is done, I don’t consider it a blunder at all, but a sound financial step to a better financial future.

]]> By: Rich http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/#comment-150 Rich Thu, 29 Jun 2006 18:30:10 +0000 http://www.penny-saved.com/2006/06/29/when-did-customer-retention-die/#comment-150 I was recently charged $20 in interest from a big credit card bank. I called to inquire why since I pay my bill off in full every month and they stated that my outstanding balance was $1100 and I had only sent them a payment of $1062. So for a $48/balance I paid $20 in interest! I called to close they account and they offered to reduce my credit card interest rate from 14.99 to 11% and credit me my $20 back. I must say I was satisfied with their response and kept the account opened. On another note, I don't know why people continue to use their home equity to pay off credit card debt. This is the biggest blunder people make in my opinion. Why would you use a SECURED asset to pay UNSECURED debt? The only result here is you are endangering your SECURED asset (i.e. your home) if you continue to incurr credit card debt. Which is worse? The ability to use/have credit cards or the loss of your home? I was recently charged $20 in interest from a big credit card bank. I called to inquire why since I pay my bill off in full every month and they stated that my outstanding balance was $1100 and I had only sent them a payment of $1062. So for a $48/balance I paid $20 in interest! I called to close they account and they offered to reduce my credit card interest rate from 14.99 to 11% and credit me my $20 back. I must say I was satisfied with their response and kept the account opened.

On another note, I don’t know why people continue to use their home equity to pay off credit card debt. This is the biggest blunder people make in my opinion. Why would you use a SECURED asset to pay UNSECURED debt? The only result here is you are endangering your SECURED asset (i.e. your home) if you continue to incurr credit card debt.

Which is worse? The ability to use/have credit cards or the loss of your home?

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