If you are struggling to pay your credit card debt, negotiating with your credit card company is the first important step in resolving the problem. In this article, let us discuss the steps on how you can negotiate your debts effectively and how you can set yourself free from bad credit.

Why Borrowers Need to Negotiate

Although some people may frown at the thought that a negotiation will work, you should know that creditors actually prefer a negotiation especially if it is in their best interest.  If the borrower is deeply in debt, most creditors would gladly extend a helping hand (by modifying their terms or accepting a settlement), rather than lose everything or watch the borrower file for bankruptcy.

On Negotiating Interest Rate

The truth is that you don’t have to wait until your debts have become insurmountable before negotiating.  If you have been consistent with your past payments and if you have a good credit rating, call up your credit card company and ask for a lower rate.

Be sure that you will be voicing out your request with someone who can make decisions.  If you’re going to call the customer service number, a representative would be the one who will take your call.  Typically, the representative will tell you that it is not possible to lower your rate.  Ask to speak with the manager or the supervisor, instead of discussing your concern right away.

How to Negotiate With Your Credit Card Company

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By Allison May

Allison May is a credit consultant and a writer for Credit Creators. The resource provides consumers with valuable advice and information on Guaranteed Approval credit cards, Unsecured credit cards for Bad Credit and other credit-related issues. The main objective here is to help people build good credit. Add Allison on

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