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.

  • First and foremost, you should figure out if you even want to continue using your current credit card company ( http://www.the-credit-card-centre.co.uk/best-credit-cards.html ). 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.

  • 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.

  • 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.

  • 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?

  • 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.

  • 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.

  • 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.

    In conclusion, 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!

    About The Author

    Claire Bowes is a successful freelance writer and owner of The Credit Card Centre ( http://www.the-credit-card-centre.co.uk ) where you will find further advice and tips on the best credit card deals ( http://www.the-credit-card-centre.co.uk/best-credit-cards.html )and 0% credit cards ( http://www.the-credit-card-centre.co.uk/0%-credit-cards.html ).

    In The News:

    • pen paper and inkwell


    cat break through


    Beware the Shopping Mall Monster

    Like me, you've probably been offered a fair old number... Read More

    FREE Credit Report Offer - Careful, It Might Carry Hidden Charges

    FREE credit checks or free credit reports. What are they... Read More

    Fixing A Credit Report

    Fixing a credit report starts with seeing what's on it.... Read More

    Like It Or Not, You Have A Score To Settle!

    Like It Or Not, You Have A Score To Settle!... Read More

    3 Free Credit Reports For You

    If you were to tell someone that they can have... Read More

    Student Credit Cards 101

    Almost all students have and use student credit cards. Some... Read More

    Your Credit Score

    Credit scores: all lenders use credit scores to determine interest... Read More

    Tired Of Being Broke?...Learn How To Force Banks To Give You Money!

    Imagine...obtaining credit that's incredibly easy...opening doors of opportunity you never... Read More

    Different Ways to Borrow Money

    There are many different ways to borrow money. Outlined below... Read More

    Useful Tips On Avoiding Credit and Charge Card Fraud

    Credit and charge card fraud costs cardholders and issuers hundreds... Read More

    Credit Cards or Store Cards - Which Is Better?

    Introduction In this article, a presentation is made of the... Read More

    How To Read Your Credit Report

    The Fair and Accurate Credit Transactions Act, signed into law... Read More

    Establishing Credit ? What You Need To Know Part 1

    Establishing credit is one of the most important things you... Read More

    Know Your Credit Card Rights

    When you apply for a credit card, the application that... Read More

    Do You Know Whats On Your Credit Report ?

    It is important to know your credit rating for a... Read More

    Credit Report ? How to Improve Your Credit Score

    One of the great mysteries of life is how the... Read More

    How Your Credit History Can Affect Your Life

    Your credit history is an important aspect of your life.... Read More

    Manage Your Credit Wisely

    Getting your first credit card is a big deal and... Read More

    Fun with Credit Cards

    For those of us who know how to use them... Read More

    Credit Traps Snag Consumers

    Nearly 20 years ago I worked for a small consumer... Read More

    Credit Cards Can Help You Get Out Of Debt

    Your credit rating / credit score is based upon how... Read More

    How To Get Out Of Credit Card Debt

    If you're like the average person, let me warn you... Read More

    Pitfalls of the Credit Industry

    The credit industry if rife with pitfalls. If you have... Read More

    Five Credit Card Billing Problems and How to Fix Them

    It goes without saying that your first and best defense... Read More

    Making Sense of the Information in Your Credit Report

    If you've ever applied for a credit card or loan,... Read More

    Credit Cards

    Credit cards are a form of unsecured credit. The issuer... Read More

    Credit Cards - The Top 3 Things You Need To Know

    Today there are so many different credit cards available, student... Read More

    Your Credit Card May Be Costing More Than You Think!

    Do you know what your credit card is truly costing... Read More

    Free Credit Reports Now Available From the FTC

    The Federal Trade Commission (FTC) has set up a new... Read More

    Credit Card Disclosure Table ? Do You Understand It All?

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

    Comprehending a Credit Report

    Obtaining a credit report is an excellent way to begin... Read More

    Like It Or Not, You Have A Score To Settle! Part 1

    Just when most people finish with school and can stop... Read More

    Have You Checked Your Permanent Record Lately?

    As a young student I feared getting bad grades because... Read More