A person is in a good negotiating position and can bargain better credit card terms, if he or she pays the bills on time, has a good credit score and solid payment history. Being responsible with your credit card can bring in a lot of opportunities for you. You can negotiate and dispute on various charges from your credit card company. You can waive the annual fee, lower your interest rate, eliminate late fee charges, change your payment date, remove the over limit charges, or increase your credit limit. There are so many things that you can bargain with your credit card issuer. But even if your credit history is not good, then also you can negotiate better benefits from the bank. We have listed some of the tips that will help you to get a better deal on your existing credit card.
How to negotiate better benefits
- Call in the morning
Try to call in the morning. Calling late or at the end of the day may make it more difficult for you to deal with the customer care executives, as they would be tired, stressed, and irritated. Moreover, avoid calling on weekends or public holidays, as the supervisor may not be present on that day.
- Be polite
Politely make your requests and start off the conversation with a good greeting. You can say hello, good morning, or refer to the representative by his or her name. Your tone should be soft; it should not sound very demanding. Be friendly and conversational, so that you establish a good rapport with the other person and can easily negotiate better benefits.
- Length of time
Tell about the number of years that you are associated with the bank or credit card issuer. Usually, credit card companies value their long term and loyal customers. If you have a credit card for a long period of time, then you have more chances to negotiate better benefits.
- Business length
If you have done a lot of business from your card like making a lot of payments, then surely tell this to your card issuer. Tell them how long you have been paying charges on your credit card. This will make them aware of your loyalty towards your card and thus make it easy for you to negotiate better benefits from them.
- Give them confidence
Tell them that you will pay all your bills and payments on time. Show them that you are willing to pay what you owe. This will assure them that you are a good customer and deserve better benefits on your card. If you will come across as a person who will not make timely payments, then you are less likely to get better deals and will have a hard time negotiating with your card issuer.
- Request for a supervisor
Don’t be afraid in asking to transfer your call to the supervisor of the credit card company. Often the representatives say that they don’t have the authority to make changes to your card. At such times, request to speak to the manager.
Negotiate better benefits from your credit card company with these easy to follow suggestions. Be proactive and get the best out of your credit card.