When to Ask for a Better Credit Card Deal

Like many companies, credit card issuers usually reward their loyal customers. However, you do not have to be a long-time member to reap the benefits of a better credit card deal. Read on to find out the different ways to you can get a better credit card deal and which angle to take.

Check your Payment History

Before you can go to your credit card issuer and demand a better deal, you need to know what it is you want. Check your payment history and find out. Do you always pay your statements on time and in full? Then a credit card with low interest really doesn’t help you as you are never paying interest anyway. Choose a credit card deal that rewards you with bonus points or air miles instead of a low-interest card. Do you use your credit card at one place more than anywhere else, say, the gas station? Then talk to your bank manager about switching your credit card deal to reward points for that certain gas station.

Play up the Loyalty

Look through your past credit records. Have you been a loyal customer for a long time? Have you always put your money into your credit card company’s hands? Do you have a good credit history? Then use it. Talk to your bank manager about lowering interest rates and receiving more reward points for your constant business and loyal payments.

Do your Research

Find out which credit cards have lower rates, better reward services and more mileage plans. This may require some comparisons with other companies but it could be worth your while. Take your findings to your current credit card company and ask for them to match it.

Make the Appropriate Threats

Credit card companies want your business. Although threatening to take your business elsewhere usually isn’t the best route to go in negotiating, it could work for you in the credit card industry. After you have looked into which companies offer you the best deals including interest rates, annual fees, reward points and bonus features, take your findings to your branch and threaten to leave if your demands are not met. If they are not matched, then take your business elsewhere. There are several different banks out there, all ready and willing to do what it takes to make you a happy client.

So now is the perfect time to pull out those old statements, do your research and ask for a better credit card deal. No matter what your history with the credit card company is, there is a better deal out there for you. All you have to do is ask.

Write to Julie Williams at julie@creditdonkey.com