Negotiating credit card deals is often a gray topic, with no clear plan to fall back on. As usual, when it comes to things where we have institutions on one hand, and on the other uninformed individuals, it can be difficult to find proper insights that you can use to improve your current situation.
That is why we have decided to give all the digital nomads and frequent travelers some useful information that can be used to get better value out of travel credit cards. If you are in the position to make the most out of this info, do not hesitate and act now. Here is where you can start.
Not every deal is made the same
If you thought that talks with your creditor is nothing more than a formality, as they already have a clearly defined set of parameters for each case, think again. Not only that every credit card provider is different, but the deals may also vary from one client to another.
In case you’ve never done any negotiating before, this can be a stressful time for each individual. Luckily, it is possible to combat those feelings by doing your research ahead of time. Start by looking at different forums, where you can hear the experiences of other users and learn by their examples.
Point to your credit history if you don’t have financial problems
Negotiating rebates is much easier when you have a good credit history. If you have that up your sleeve, speaking to credit card providers might be a lot more pleasing than what you’ve anticipated. No matter whatever direction the conversation takes, try to approach the issue with a positive mindset and work towards achieving your desired results.
Being polite can only get you to a certain point, but you can use different tactics to turn the tides in your favor. For example, the best time to call your credit card providers might be fairly early in the morning, as the person on the other side may approach your quest with the enthusiasm they can lack after a hard day’s work.
Let your provider know that you might be looking to switch banks
Loyal clients are the backbone of every successful bank. That is why these institutions will always try their hardest to keep the clients by their side. Leveraging your status as a loyal customer might require some persuasion though.
Even when that might not be the case, you have to display your willingness to switch banks if you’re not satisfied with the terms you can currently receive from your provider. However, if you decide to make this step, don’t just make empty assumptions. Do your preparation ahead of time, explore your other options in detail, and do not be afraid to mention them, as that will show just how serious of a client you really are.
Take notes of the conversations you have
Negotiation is similar to a tug of war, where each side takes initiative from time to time, before reaching a final conclusion. Just have one thing in mind, creditors are professionals, and you need to use every tool at your disposal to get the best possible rates. By taking notes of the conversation you have with creditors, you will always be able to go back and ask questions about every detail that remains unclear to you.
Give details on the situation you find yourself in
Just because most people seem to think that negotiating implies using different tricks to achieve your goal, that doesn’t make it necessarily true. Sometimes, getting your truth out there is the best thing you can do. Naturally, this works best if you have the arguments that truly back your claims.
This could include everything from your health state to change of jobs, the necessity to travel more and all sorts of other reasons. These circumstances might be enough to persuade your creditor to allow you for better rebates options.