I read an interesting article the other day describing some basic strategies for negotiating a lower credit card rate. I have had a significant amount of experience in the area and intended to write about it and got side tracked. Then today I saw a new article from the same site is starting a series on preparing for the negotiation.

So I decided to parallel that series and cover some of the Do’s and Don’ts of that Negotiation. There are some things that you should say and there are some things that you should never say or at least things you shouldn’t say without consulting with your attorney!

So for the next few days I will share a few tips of what to say and what not to say.

What you Should Say

Ask Them for a Lower Rate

Simply ask them if they will lower your rates. You should be prepared for more to say more, but sometimes this is a great starting point for the conversation. You should never forget to ask them. Nor should you avoid asking them. Ask the question and require the credit card representative to give you an answer.

Stick to the Script

When you call to negotiate a lower credit card rate, you should have a script to follow to cover all your points correctly. Make sure you Stick to your script when you call. If they interrupt, ask them to let you finish your request and continue. Describe three examples of better rates you have received in the mail or found online or have already been approved by your other credit card company.

What you Should not do or Say

1. Do not get angry with the credit card company representative no matter what.
2. Never curse at the representative or their supervisors.

We will have more tips on this subject over the next few days, so please check back or consider subscribing to the World Wealth View.