How to talk to your credit card company

We’ve all been there — stuck on the phone with a customer service rep at a credit card company who seems to offer absolutely no help whatsoever. Whether we are calling because we want a credit limit increase, our card was declined, we want to lower our interest rate, or we are trying to clear up a late fee or interest rate increase. Here are some tips for talking with your credit card company to make sure you get the treatment you deserve, not the customer service runaround.

Above All, Be Polite – You will probably deal with a different person every time you call your credit card company, and these people are just like you and me. They are trying to survive their workday just as we endure ours. Treat them with the same courtesy and respect as you expect from them, and it will go along way.

Be Prepared to Negotiate - Every call to your credit card company is a negotiation. Whether you are negotiated an interest rate, a credit line increase, or to waive a fee. Credit card companies are capable of giving its best customers virtually any rate, any credit line, and waiving almost any fee. The better your history with the credit card, the better your chances, but everybody has a shot at better terms.
If you’re calling about a lower interest rate, for example, say “I like this card, but I can get much lower rates with other cards, so I’d like to close my account unless you think you can beat your competitor’s rates.” Do not say: “Is there any chance I can get a lower rate? No? Okay, thanks anyway.”

Be Proactive – When you are falling behind on bills, do not wait for your credit card company to find you and tell you that you’re late, and certainly don’t avoid their calls! If you give them advance notice that you might have to be late, they can work with you to eliminate fees and keep your interest rate from going up, saving you hundreds or thousands of dollars. Remember, if you don’t pay your bill and your credit card can’t reach you, they fear the worst: that you’re going to skip out on your bill. Assure your credit card company you intend to pay, and they will help you.

Ask for the Supervisor – While your customer service rep probably has more authority to waive fees and make special arrangements than they will let on, there are some things they will not be able to do. They may not want to give you to a manager the first time you ask, but if you are polite and persistent, you can get to one.

If All Else Fails, Call Again – Remember that you will deal with a different person each time you call your credit card company, so use it to your advantage. If you don’t get what you asked for the first time, call again, and again.

Still aren’t getting anywhere? Then it may be time to cut your ties with your credit card company and find a new card.