8 Bargaining Tactics to Reduce Credit Card Debt
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Martin Collins
May 18, 2013, 1:36:03 PM5/18/13
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Article Title: 8 Bargaining Tactics to Reduce Credit Card Debt
Author: Martin Collins
Word Count: 534
Article URL: http://www.isnare.com/?aid=1841110&ca=Finances
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Chose the best time to call: An easy, yet very effective negotiation tactic is to choose the right time to call the credit card company. If you call them first thing in the morning they will most likely be in a better mood than in the evening after a long day of people trying to get out of their credit card payments.
Let them know you will pay back your debt: What concerns credit card companies most are people who are trying all sorts of dirty negotiation tricks to get out of paying their debts altogether. It is crucial that you explain to them that you do intend to pay back your debt. What you are asking is some small help. If you do this nicely, you may be surprised how understanding credit card companies can be!
Make use of your first time: In case this is the first time you are asking to have a late fee waived or a lower interest rate, you need to tell the credit card company about it. They will be much more supportive to people who ask for this for the first time, rather than to those who ask every month!
Show them your loyalty: If you have been a customer or a big spender for several years, you should use this to your advantage. When you remind your credit card company what a loyal customer you have been, they will be more willing to renegotiate your debt because they want to keep your business long term.
Request a lower interest rate: Unknown to most, rates on credit cards can often be negotiated. If you have a good payment history, you should be able to get a lower interest rate. Especially, if you can explain that you'll be able to put more money towards paying off your actual balance rather than your interest rate charges.
Get relief from late payment fees: This is a very easy, yet effective bargaining tactic. Late fees, like other fees, can easily be waived if you pay your bill within a few days of the due date. A solid credit history can be used as leverage, and may be well worth the effort to make that extra phone call.
Ask to skip a payment: When you are in a situation of financial problems that you think you will be able sort out in the near future, you can try to explain this to the credit card company. If you request to miss one or two payments as an exception, many companies are willing to give you this relief. The downside is of course a likely negative impact on your credit report.
Speak to the right person: A good negotiation tip is to always try to speak to the person in charge. Your initial concerns will likely be handed to a customer service representative, but request that you speak directly to the manager or another individual who has the authority to make decisions. Remember to write down the names, designations, and contact details of everyone you speak with, as well as the time, day, and particulars of your conversation.
About The Author: Martin P R Collins is a negotiation expert at Geneva Education. Visit http://www.geneva-education.com/negotiation to learn his 20 best bargaining tactics, or https://www.facebook.com/pages/Geneva-Education/288011747965569 for Geneva Education facebook page.
Please use the HTML version of this article at:
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Please consider this free-reprint article written by:
Martin Collins
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1841110
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1841110
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: 8 Bargaining Tactics to Reduce Credit Card Debt
Author: Martin Collins
Word Count: 534
Article URL: http://www.isnare.com/?aid=1841110&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1841110
Easy Publish Tool: http://www.isnare.com/html.php?aid=1841110
*********************** ARTICLE START ***********************
Chose the best time to call: An easy, yet very effective negotiation tactic is to choose the right time to call the credit card company. If you call them first thing in the morning they will most likely be in a better mood than in the evening after a long day of people trying to get out of their credit card payments.
Let them know you will pay back your debt: What concerns credit card companies most are people who are trying all sorts of dirty negotiation tricks to get out of paying their debts altogether. It is crucial that you explain to them that you do intend to pay back your debt. What you are asking is some small help. If you do this nicely, you may be surprised how understanding credit card companies can be!
Make use of your first time: In case this is the first time you are asking to have a late fee waived or a lower interest rate, you need to tell the credit card company about it. They will be much more supportive to people who ask for this for the first time, rather than to those who ask every month!
Show them your loyalty: If you have been a customer or a big spender for several years, you should use this to your advantage. When you remind your credit card company what a loyal customer you have been, they will be more willing to renegotiate your debt because they want to keep your business long term.
Request a lower interest rate: Unknown to most, rates on credit cards can often be negotiated. If you have a good payment history, you should be able to get a lower interest rate. Especially, if you can explain that you'll be able to put more money towards paying off your actual balance rather than your interest rate charges.
Get relief from late payment fees: This is a very easy, yet effective bargaining tactic. Late fees, like other fees, can easily be waived if you pay your bill within a few days of the due date. A solid credit history can be used as leverage, and may be well worth the effort to make that extra phone call.
Ask to skip a payment: When you are in a situation of financial problems that you think you will be able sort out in the near future, you can try to explain this to the credit card company. If you request to miss one or two payments as an exception, many companies are willing to give you this relief. The downside is of course a likely negative impact on your credit report.
Speak to the right person: A good negotiation tip is to always try to speak to the person in charge. Your initial concerns will likely be handed to a customer service representative, but request that you speak directly to the manager or another individual who has the authority to make decisions. Remember to write down the names, designations, and contact details of everyone you speak with, as well as the time, day, and particulars of your conversation.
About The Author: Martin P R Collins is a negotiation expert at Geneva Education. Visit http://www.geneva-education.com/negotiation to learn his 20 best bargaining tactics, or https://www.facebook.com/pages/Geneva-Education/288011747965569 for Geneva Education facebook page.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1841110
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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