The Best Way To Begin Negotiating With Your Charge Card Company For Lower Interest Rates

Are you one of the thousands of consumers that cringes when you open a new credit card bill? Are you aggrevated with the interest that you are paying on your charge card accounts? Well, there is a way around these rates! Many people refer to credit card companies as all mighty corporations that refuse to help people. As much as I would love to agree with this, I have to say that it is not a fact. Banks are a lot like a mom and pop store in a way. Without clients, they will go out of business. You can use this fact to receive lower interest rates on your charge cards. There are a couple steps that you will want to follow during these negotations:

1. Know the facts! – Do not begin contacting credit card companies until you have found out the facts about the account in question. Grab your last billing statement and find out exactly what the interest rate is on the account. Also, it is a good thing to figure out what your balance on the account is and how close you are to your credit limit. This will prove to be helpful when negotiating if you are not too close to your credit limit.

2. Call your bank – When calling banks it is crucial that you are polite! Being rude will get you no where especially when you take into account that the banker does not have to do anything for you. So once again I can not stress it enough, be polite! When you first call, in most cases you will have to enter some information in an automated system that allows the credit card company to make sure to transfer you to the right department. Go ahead and answer the questions on the automated system. Once you get to the representative, very politely say “I was looking over my credit cards and I noticed that this credit card has the highest interest rate. I like the charge card, and I like working with this credit card company but of course I am a little upset about the apr on this account. Is there anything that you can do to make this interest rate a bit more competative?”. After you say this, the customer service representative is most likely going to put you on hold. When they come back they are most likely going to let you know that there are now lower rates that can be placed on the account at the moment. This is OK don’t get mad don’t start being rude just move on to the next step.

3. Get to the retention department – Just about every bank has a retention department. This is a department specifically created to do what ever possible to retain the customer including the ability to lower interest rates. To get there just simply ask “ok I understand but I have balance transfer offers coming in the mail and I don’t want to go through the hassel of going to another lender can you please transfer me to the retention department?”. The representative will most likely gladly transfer you. Once you get to that department use the same line with them that you utilized with the customer service representative “I was looking over my credit cards and I noticed that this charge card account has the highest interest rate. I like the charge card, and I like working with this bank but of course I am a little upset about the apr on this account. Is there anything that you can do to make this rate a bit more competative?”. Once again you will be put on hold, but this time when the rep comes back, you will most likely get a lower rate.

If you don’t get a lower rate, I know of a company that is by far the best and a very reasonable price called Jem Credit Cards you can contact them:

By phone – (561) 355-0069
By email – Support@JemCreditCards.com
On the web – www.JemCreditCards.com

Just a good piece of information, if you don’t have one already, Discover card is the best charge card as far as rates, rewards, and customer service is conserned. To find the best one for you go to www.JemCreditCards.com