Savings account interest rates are on rise. The online bank, ING Direct is currently offering 2.35% APY (annual percentage yield), with no minimum deposit, no fees, and your account is FDIC insured. Visit

And so I reminded him that my account was in goodstanding and had been for many years now. I had not made any late payments and always made more thanthe minimum payment due.

Again he informed me that best he could offer was a rate of 15.9% that would be good until August 2003. So now not only was I not feeling like I was getting a very good deal but this new rate would only be a "promotional" rate !

I remained calm and friendly, knowing that yelling at him or telling him what a "lousy" company he worked for would be counterproductive to my end goal - a lower and better APR for this account. I thaned him for his time but told him I didn't feel this was a very good offer.

And then "magic" happened. He asked if I would like to speak to an account manager and that perhaps they could better assist me. I thanked him for his time and assistance and was then transferred to an account manager.

I explained my dilemma to her and reasoned with her that as a good customer I expected a much better rate. She empathized with me and then offered to upgrade my account to their platinum status which carried an APR of 9.9% ! In addition, platinum card offered many more benefits and had no annual fee. She also assured me that this was a "contract rate" and not a promotional rate. I would keep same account number so I would not be opening a "new" account but simply upgrading my current account status.

Next time you are reconciling your monthly statements take a close look at various APR's you are paying. If you notice a disparity in rates you are paying, call your card issuers to negotiate a better rate. My persistence paid off. Be persistent - it can pay off for you too!