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Getting a better deal from your credit card company

If you want a better deal from your

If you want a better deal from your credit card, call the issuer and ask - or consider changing credit card companies. Credit: Getty Images/iStockphoto

You never know until you ask. That doesn’t just go for trying to get a date or hitting the boss up for a raise, it also can work with your credit card issuer.

Speaking up comes with rewards. A new survey of more than 1,500 people with major credit cards, found that 84 percent of those who asked for a late fee to be waived were successful, 70 percent got an annual fee lowered or nixed. Requesting a lower interest rate worked for 56 percent, and when it came to getting a higher credit limit, 85 percent got what they wanted.

If you’re motivated to pick up the phone, here’s how to get results from your credit card issuer.

State your case. “If you’re a good customer and usually pay your bill on time, a card issuer is likely to agree to waive a one-time late fee. Don’t make the request long or complicated, make the request along with a simple explanation. Don’t tell a long story or lie, just make a straightforward request,” says Kimberly Palmer,’s credit card expert.

Be prepared. Shop around for better credit card deals and interest rates with your credit card’s competitors for leverage. Says Natasha Rachel Smith, a personal finance expert for, “At the end of the day, your credit card company doesn’t want to lose your business. Often they’ll match or agree to a better rate that is offered by a competitor.”

If you want your limit raised, stress how long you’ve been a timely paying customer.

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