Final Installment on Preparing to Negotiate a Better Credit Card Interest Rate
This is our seventh and final installment in our series designed to help people prepare for a phone negotiation with their credit card company to reduce their interest rates and save money in the long run.
Our final three points for this series close things out in a way that is similar to our beginnings. These suggestions are some what basic but can be very important. They both speak to the need to insure that you get comfortable on the phone, stay comfortable and keep as many advantages as possible during the discussion with the credit representative on the other end of the line that could save you thousands of dollars.
Get Comfortable
The first thing that you should do before making the phone call is to get a headset or use some other hands free device for your phone. You will need to be comfortable and flexible when you call. Use an ear bud or headphone with a mike so that you can talk hands free. This will make it possible for you to manage your notes, computer, files or anything else that is important or might prove to be distracting.
Keep in mind that the operator you speak with will have one and will be working on a computer so give yourself the same advantage.
Outnumber the Call Center Representative
Next, bring someone else into the room during the conversation or put the call center person on speaker phone with your spouse, significant other, or parent. A conversation with two people on your side versus one slightly skews the conversation in your favor. You now outnumber the credit card company representative. Two brains are better than one. Use them.
Ask your spouse or relative questions as the conversation develops.
- Does that make sense?
- What do you think?
- Is that really a better deal?
- Should we accept the other offer?
Show the representative that the other person is influencing your decision. Now they have to convince both of you and work a little harder. That gives you an advantage and decreases the chances that you will miss an important detail. Plus, if a supervisor comes on the line, the match up will be even and you will not be out numbered.
Record the Call to Practice for Next Time
Finally, ask the representative if you can record the call and then record it. This will give you a record of the conversation. It serves as proof to any deal you might be offered. Probably most importantly, it gives you a record so that you can study your performance and make improvements or modifications the next time you call to negotiate a better rate on this credit card or any other!
For More Information see:
Part 1: Prepare Before You Call Your Credit Card Company for a Better Interest Rate
Part 2: Credit Curb Appeal for Credit Card Rate Negotiations
Part 3: Paying Down Debt Positions a Better Rate Negotiation
Part 4: Researching and Scripting the Pitch to Lower Your Credit Card Rates
Part 5: Credit Footprint Improvements Prior to Rate Negotiations
Part 6: Organizing All the Angles before Negotiating a Better Rate
