Credit Repair Secrets 5 Tips for Negotiating Better Terms

If you’re looking for credit repair secrets here are 5 negotiating tips. They work regardless of how good or bad your credit might currently be. Let’s get started.

Tip #1 Ask

Credit card companies are constantly competing for your business. It’s easy for consumers to switch to another company so you can get all sorts of better terms just by asking. If you need a reason tell them you’ve been a good customer made your payments on time etc. Even if you don’t have perfect credit companies want to keep making money & will almost always offer better terms to keep you happy.

One friend of mine called to cancel her card because she’d maxed it out & wanted to avoid the temptation to use it again once she paid it down. To try persuade her to keep it open the company offered to reduce the rate to zero & let her make payments that fit her budget better. That’s to say that some credit card companies are ready to offer you a settlement kind of deal without even having to go through an of the standard collection procedures first.

Tip #2 Manage your balances well

If you leave room on your credit cards you can always do a balance transfer to the card with the lowest rate. Also if you keep your balances around 30% credit card companies are happy to extend your credit limit every so often because they see you’re using it & they’re making money on the interest.

Tip #3 Let credit card companies compete against each other

Having a better deal somewhere else is the easiest way to get a good deal. Credit card companies know they are a dime a dozen & will give you whatever deal necessary to keep you. If you can make a balance transfer out of their account they’ll be more willing to work with you. If not make the transfer & then see what kind of deal they’ll give you to get it back.

Tip #4 Work to improve your credit

Hopefully this goes without saying. The better customer you are the better terms they’ll give you. If something happens & you won’t be able to stay on time consider whether it makes sense to only fall behind on some of your accounts. For example if you have a zero percent interest rate credit card you might want to stay current on that one & let the rest slide.

Tip #5 Crunch the numbers

There are plenty of things you can negotiate besides the interest rate. You need to factor in how long you’ll have any given interest rate whether there are any annual fees or any other fees if there are any rewards for using the card etc. If a company gives you frequent flier points on top of a 7% rate that might be better than a card with an annual fee 5% & no rewards.

The key to negotiating is to know what you want & keep working until you get it. Remember that creditors need customers & will fight to get & keep you. Use that to get what you want.

Find out how to do your own credit repair without an agency. Visit www.creditrepairsecrets.org for free credit advice.