If you missed four payments out of the past dozen that were due, you're not likely to find a sympathetic ear on the other end of the phone if you call your credit card company.
By contrast, if you have an excellent payment history, the vast majority of banks empower their customer service representatives to waive a late fee, usually once a year.
What most consumers don't know is that you can easily have this fee waived simply by calling your credit card company and asking for the charge to be removed from your monthly statement.
The key to a successful request is that you have to have a pretty good track record of paying your bills on time.
En español | While it may seem like you're at the mercy of credit card companies and others that you owe, in reality, you probably have more power and leverage than you suspect when it comes to dealing with creditors. Once you discover a few profound truths about credit card companies, you'll not only more successfully juggle your financial obligations, but you'll also know how to maximize your credit cards for all they're worth.
Here are a few little known secrets about credit card companies that a banker isn't likely to tell you.
Taking advantage of some of these tips can give you leverage in negotiating with your creditors.
They Can Only Raise Your Rate for Six Months If you've been dinged with a higher interest rate, perhaps because you were late in paying a past credit card bill, don't despair.The content of the program will be tailored according to individual and business needs.The theoretical training is mainly scheduled at the beginning of the program, whereas the end of the program mainly consists of learning in projects and customer work." Most representatives will reply by saying something like: "Yes, as a courtesy, we can do that for you this one time." You Can Negotiate a Lot More Than You Might Think Getting a late fee removed isn't the only thing you can accomplish when negotiating with your credit card company.When most people consider negotiations with a credit card company, they often picture themselves asking for a lower interest rate.