Bronson Page is a screenwriter, art director, and keeper of LovesickBilly.com. Bronson and his husband, Sam, have a balanced, happy marriage (despite Prop 8 ) where they budget and pay bills just like any other Californian couple. These are his words…
A lovesick home and relationship are free of stress. Nowadays, that definitely applies to money. Years ago, I got into the good habit of calling the credit card companies with which I still carried a balance, every six months, asking them to reward my good standing with a decrease in my APR. This has worked many, many times, saving me thousands of dollars. Today I learned that if you have an American Express card that allows you to carry a balance, you have an opportunity to save a lot of money in interest on it, too.
American Express offers a year-long Care program that establishes a fixed payment at 0% interest for the first six months, and then at 9.9% for the second six months. You don’t have to be behind in payments or declare any financial hardship. They deduct the payments directly from your checking account on a fixed schedule, and you can make payments over and above that to reach your payoff goal. It is NOT an interest-only extension, nor does interest accrue during the first six months, and it does NOT put an adverse comment on your credit report.
If you can pay off your Amex bill in six months, you can now do so interest-free, and if it takes you the full year, you can still save a lot of money, depending on your APR. This works great for those doing a credit roll-down with an eye to having zero credit card debt, stat. It’s not a stimulus package, but it’s a savings that can sure stimulate your package, especially in this economy where dirty money is sexy, and plastic is, well, plastic.
More about Bronson Page
Bronson Page is a screenwriter, art director, and rodeo enthusiast living in L.A. with his husband, Sam Page. His blog, LovesickBilly.com, is about sex, love, and relationships – as well as a window into his relationship and adventures with Sam. Currently, Bronson is putting together a deal to produce Damages for the screen and stage, a rock opera about his most painful childhood memories, told through 18 songs by Queen.
Photo credit: Bronson’s mom.