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1. 8 Bargaining Tactics To Reduce Your Credit Card Debt

2. Call at the right time: Choosing the right time to call a
credit card company is one of the simplest, yet most
effective negotiation tactics. Call them early in the
morning, as this is the time when people are in the best
mood and more likely to be supportive to your case.
Don't call at the end of the day, when everybody is tired
and grumpy.

3. Let them know you will pay back what you owe: Credit
card companies are most concerned about people who
try to get out of paying their debts altogether using
various dirty negotiation tricks. It is important to stress
that you do intend to pay them back, all you need is a
bit of help from them. You will be surprised at how
positive credit card companies can react to this
approach. This is a very simple, yet effective negotiation
technique.

4. Take advantage of your first time: If this is the first time
to request a lower interest rate or have a late fee
waived, be sure the credit card company knows this.
These companies show a lot more leniency for first-time
offenses as opposed to monthly requests for an
extension.

5. Show them you are a loyal customer: If you've been a
long-time customer or a big spender for several years,
use this to your advantage. By reminding a company of
your loyalty, you'll find that they will be more willing to
renegotiate your credit card debt because they don't
want to lose your business.

6. Ask for reduced interest rates: Not many people know
this, but credit card interest rates are usually negotiable
for those with good negotiation skills. If you have a
reasonably acceptable payment history, you should have
no issues with requesting a reduced interest rate. Bring
across the point that you'll be able to use more of your
money paying off your balance rather than your interest
rate charges.

7. Have late fees waived: This is a simple, yet very 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.

8. Ask to miss a payment: If you are experiencing a
momentary financial setback but expect to get your
finances in order in the near future, explain your
situation to the credit card company and respectfully ask
if you would be allowed to miss one or two payments.
Take note, however, that these skipped payments may
reflect negatively on your credit report.

9. Get to the decision maker as fast as possible: A good
negotiation tip is to always attempt to speak to the
person who can call the shots. Your initial call will likely
be handed to a customer service representative, but you
should ask to talk directly to the manager or whoever
has the authority to make decisions. Write down the
names, titles, contact details and timing for every call
you make.

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