Credit Card Rates - Negotiating Rates with Your Credit Card Company

Ok, let's face it, everybody hates high credit card rates, and they drain hard earned money out of your wallet. As a valued consumer, it is apparent that you learn how to negotiate to get the absolute best rate that you possibly can. The good news however is that it doesn't have to be a difficult or time-consuming process. In fact, it can be very easy indeed if you know what you're doing. In this article we will discuss the ins and outs of credit card negotiating to ensure that you get the best possible rate with the least amount of effort.

1. First and foremost, you should figure out if you even want to continue using your current credit card company. Are you pleased with the overall service that you are receiving? Do you like their benefits? If the answer is yes then you can proceed. If not, you should stop reading this article and start looking for a better company.

2. Second, you should evaluate your paying history and make sure that it is positive before you call to negotiate. If it is positive then you have power and if it isn't then you'll be negotiating from a position of weakness and that might not be good. Instead, you should wait until it is more positive before you call them to negotiate rates.

3. Third, if you have a good history then remember this when you call. In essence, you'll have extremely high negotiating power. The company needs your business in order to be successful and with clients they lose big time. Therefore, you should always display this "take them or leave them attitude" while conducting your negotiations.

4. Draft up a script and memorize it. It can be as simple as "Hello, my name is Bill and I have been a cardholder for X years and I consistently pay my bills on a time. Well recently I have been receiving all types of credit card offers from XYZ bank indicating that I qualify for an extremely low interest rate of X and am considering leaving you and going there if you can't offer me a lower rate. Is this something that you can help me with?

5. Practice, practice and practice some more with your script until you are completely and totally used to it. Once you are, contact the company. Read your script and see what happens.

6. If you get a hard nose customer service representative then don't threaten her. Be agreeable and ask to speak to his/her supervisor. If that is not possible, be nice to her and try again she may have some leeway. If you like your present company, you can even try negotiating interest rates, annual and even those yucky late fees.

7. However, if you're fed up, have an alternative company in the wings, and your current company won't budge with their rates then be willing to take your business elsewhere. After all, you hold the power so don't be afraid to use it! They key however is to not bluff but to follow through with your threat. Close the account, ask for them to send you notification in the mail, cancel the credit card and use another card.

Summary

You can be successful with the negotiating process if you follow the above mentioned tips. If your current company is unwilling to cooperate then you should simply take your business elsewhere. You're better off with another credit card company that values your savvy negotiating skills!

Claire Bowes is a successful freelance writer and owner of the http://www.the-credit-card-centre.co.uk where you will find further advice and tips on the best credit card deals, balance transfers and 0% credit cards.

---

Credit Repair Services vs. Do-It-Yourself Credit Repair

Millions of Americans suffer because of bad credit these days,... Read More

What You Need to Know About Credit Reports

You hear people talk about credit reports all the time... Read More

10 Ways To Boost Your Credit Score

1. Deleting Errors in 48 HoursThis is the absolute fastest... Read More

Credit Scores and Loan Applications

Keep Your Credit History Clean - Remove A Negative Credit... Read More

Credit Card Disclosure Table ? Do You Understand It All?

In addition to the APR (annual percentage rate) and the... Read More

Credit and Loan Help for Mortgage Loans

Mortgage loans are some of the most difficult loans to... Read More

Credit Repair: How To Deal With Your Creditors

If you are in danger of credit problems because you... Read More

How To Repair Your Credit Report

A credit report is run on a buyer when he... Read More

New Credit Advice: Dont Pay off Those Credit Cards!

Credit needed for real estate mortgage financing differs from credit... Read More

When You Are Eligible For A Free Credit Report

By Federal law, you are entitled to one free credit... Read More

Credit Card Companies Are Out for Your Money

You're probably thinking "Tell me something I don't know" but... Read More

What To Look For In A Credit Card

When you are deciding what type of credit card to... Read More

Credit Card Expenses Are Killing Your Budget!

Do you know the costs associated with your credit card?... Read More

Debit Card vs. Credit Card, What Are The Differences ?

Ah, the "good old days". If you are a baby... Read More

Dealing With and Repairing Bad Credit

Bad credit can be a burden for otherwise good credit.... Read More

Credit Enhancements: Seven Tips For Enhancing Business Credit Transactions

What are the avenues available to businesses with weak credit... Read More

Balance Transfers Introduction

Credit card balance transfer involves using a credit... Read More

Which Business Credit Cards with Reward are the Best?

Thinking of applying for a credit card with a reward... Read More

Always Avoid Payment Holidays

Once you've been paying off a credit card for a... Read More

Ethical Finance: Who Benefits From Our Spending?

On one hand consumers are being universally criticised for running... Read More

5 Ways To Prevent Credit Card Late Fees

Paying a credit card late fee is the same as... Read More

Identity Theft ? Guard Your Childrens Social Security Numbers

Identity theft is a growing concern among Americans, and rates... Read More

Bad Credit? No Credit? Yeah, Its a Problem.

Many companies use the slogan "Bad Credit? No Credit? No... Read More

Fair Credit Reporting Act: What You Should Know About It?

The Federal Fair Credit Reporting Act (FCRA) is designated to... Read More

Everything You Always Wanted To Know About Your Credit Report

Your credit report is a very powerful report that essential... Read More

Identity Theft : They Got Him

His hard earned money? Gone. Creditors on his back everyday.... Read More

The Best Strategy To Erase Credit Card Debt

Credit card debt is a growing sickness in the United... Read More

Online Credit Report and Online Credit Reports

Online credit reports are easily accessible to those interested in... Read More

Choosing The Best Credit Card To Apply For

Always shop around to get the best deal when choosing... Read More

All About Balance Transfers

What is a balance transfer?A balance transfer can be explained... Read More

Dont Fall for Credit Repair Scams

We've all seen the ads on television or in magazines,... Read More

10 Dirty Tricks Credit Card Companies Play

The credit card companies make billions each year in legitimate... Read More

Credit Establishment 101

There will come a day when you need credit. You... Read More