Credit Cards Popular at the Pump - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

05.15.07

Credit Cards Popular at the Pump

"I had no clue you could do that, it sounds like something I would do because it would help," says Sidney Koenig "I had no clue you could do that, it sounds like something I would do because it would help," says Sidney Koenig
"It's harder because bills are higher because of gas, so we pay cash sometimes to offset what it's going to be at the end of the month," says Paulette Scott. "It's harder because bills are higher because of gas, so we pay cash sometimes to offset what it's going to be at the end of the month," says Paulette Scott.

Credit cards are getting quite a work out with gas prices on the rise. People we spoke with today say they are having to turn more to plastic now that they are pumping more dollars into their gas tank.

NewsChannel 10's Marissa Bagg tells us how you can spend less despite high credit card use. She spoke with people who are trying to charge their gas on four or five credit cards to get by, at least until the end of the month when it's time to pay. So learning a call to the credit card companies can save cash certainly got their attention.

Plastic is popular at the pump. "I use credit cards it's just easier with the cash flow," says Paulette Scott. 

What if a lower credit card rate was just a phone call away? A recent study showed that 50% of consumers who called their credit card companies to request a lower interest rate - got it. By as much as 4 points. It's something those who are pinching at the pump never though of trying.

"I had no clue you could do that, it sounds like something I would do because it would help," says Sidney Koenig.

"I had a friend who said it worked for her so I was talking to husband about calling and trying it out for ourselves because it would help us financially," says Scott. 

Scott says she is paying $30 to $40 more a week in gas, so lowering her interest rate would be a big help.

"It's harder because bills are higher because of gas, so we pay cash sometimes to offset what it's going to be at the end of the month," says Scott.

The average american carries $9,000 in debt. A 20-minute phone call could save you hundreds in interest as you try to pay it back.

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