Yellow's Green

The Adventures of Money Blog.

Tuesday, November 14, 2006

Even Lower!

I received a letter in the mail this week informing me that since I've made 36 consecutive on-time loan payments, they're lowering my interest rate by 1%. Hurray!

When I looked closer, though, they had only applied it to one of the two loans in consolidation, and the smaller one at that. So, I picked up the phone and I asked them why.

The customer service girl was very friendly, couldn't find a reason why, and is sending a claim to the interest rate billing department to have the discount applied to the full loan.

As if a 2.625% rate wasn't low enough. Try 1.625% on for size!
Nothing but minimum payments will be coming from us - we can always earn more interest in savings than we'll have to pay toward this loan. (It will still be almost 10 years before it's paid off, though.)


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