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 Cards For People With Bad Credit Scores

Sometimes life lands you in a situation that causes your... Read More

Choosing the Best Low Interest Credit Card

With so many low interest credit cards on offer, how... Read More

What Does Your Credit Say About You?

A credit report is more than just a snapshot of... Read More

My Credit Card Application Was Rejected! Now What?!?

No doubt, you've probably gotten literally hundreds of credit card... Read More

Taking Control of Your Credit History

Your credit history is important; in fact, in this day... Read More

SuperCharged Secret 4, Credit Card Utopia

YOU SCRATCH MY BACK, AND I'LL BUY SOME MORE BEER!Let's... Read More

Know Your Credit Card Rights

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

Protect Yourself Against Identity Theft

Identity theft is when someone uses, without permission, your personal... Read More

Identity Theft ? Who Would Want Mine?

With all my bills who would possibly want my credit?... Read More

Practical Suggestions for Protecting Yourself From Identity Theft

It's no surprise that thousands of Americans are victimized by... Read More

Establishing Credit ? What You Need To Know Part 2

In my previous article "Establishing Credit ? What You Need... Read More

How Can A Qualified Mortgage Consultant Help Boost Your Credit Scores?

Consumers interested in purchasing or refinancing a home will pay... Read More

Free Credit Reports Now Available From the FTC

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

10 Signs You May Need Credit Counseling

Debt management programs can be of real help for people... Read More

Credit Trap: What They Dont Tell You About Credit Cards In College

In industrialized nations, going into debt starts early. It's easy... Read More

A Debt Mentality

While working through my own debt situation, and helping others... Read More

Five Reasons to Repair Your Credit Score - You Can Do It Yourself

There are multiple reasons that tell us why we should... Read More

Identity Theft ? Additional Protection for Soldiers on Active Duty

Congress passed the Fair Credit Reporting Act several years ago... Read More

Four Tips How Homeowners Can Rebuild Their Life After a Foreclosure

Let's face it, if you are facing the possibilities of... Read More

How To Eliminate Credit Card Debt

There is almost nothing more troublesome than having too much... Read More

Understanding Your Credit Score

When you apply for credit one of the first things... Read More

Which Credit Bureau Should I Use To Check My Credit Report?

There are three main credit bureaus in the United States;... Read More

The Credit Card Surprise That You Need to Look Out For

Companies that issue credit cards want to make a profit.... Read More

Identity Theft - How to Protect Yourself

"Like the tan? I got tons of sun on that... Read More

How To Avoid Becoming A Victim of Identity Theft

With identity theft statistics currently at an all time high,... Read More