Posted: March 5th, 2010 | Author: admin | Filed under: Credit Management | No Comments »
There are many different things to consider when you are about to negotiate with your credit card companies. Whether you are wanting to consolidate your debt or try to get your interest rates lowered, there are small steps you can take to ensure the most success when you call. The first thing to keep in mind, is the time of day that you make the call. This does matter.
It is just that at different times, the people who are working the phones…will be different “kinds” of people. During the day you may be more likely to have your call answered by a more mature person, where at night you will be more likely to be speaking with a college student. It sounds funny, but it is true, and it is best to call when the one answering the phone is one who you will identify with. These are people too, and the representative with whom you are speaking to will greatly influence the outcome of your negotiation. In this way, if the person on the line appears to be in a bad mood or who just seems like a mean kind of person, hang up the phone and call back. This too sounds simple, but it is basic human nature, and it will have an effect on the outcome.
Just as with good customer service, you want to find a personal connection to the person, by using their name and speaking to them not as the enemy, but as the person who can help you, which is actually who they are. And in some instances it may be necessary to just swallow your pride and ask for the help that you need. Be aware of your current situation, as if you are delinquent on the account and your are asking for a raise in your credit limit, know that you will most likely not get anywhere unless you do have money to send them. In these times there are many people who are struggling financially, and who are willing to help the others who are struggling too.
Posted: February 15th, 2010 | Author: admin | Filed under: Credit Management | No Comments »
Many of the best guaranteed credit cards for bad credit can be found on the Internet. For those who need to re-establish their credit history, because they have mismanaged their credit, lost their employment due to lay-offs, or abrupt changes in their financial circumstances, like unexpected medical bills, will find that there are company’s that specialize in helping those re-establish a good credit history. They are experts with giving the right credit limits and recurring credit payment plans to meet specific needs.
Department stores and on-line shops do not offer credit cards to people with bad credit. Stick with local banks or on-line companies that specialize in re-pairing bad credit and offer credit card to those with bad credit. If you get a credit card offer in the mail, fill out the application, but read all the find print, because you will be charged a higher interest rate or they might be offering only an introductory rate for the APR; you can not get around that. Plus, if you do find a financial institution that will offer you a credit card, you will most likely note that your credit limit is only $300.00, and that there are fees attached. But, there are some fees you can avoid, so always check and make inquires about these fees and about the line of credit before filling out the application. You might negotiate for a higher APR, but lose the annual fees and processing fees.
Thoroughly read any offer made to you for a credit card for people who have bad credit. The purpose for issuing credit cards for people with bad credit is to slowly re-build your credit rating and not to once again mismanage your finances, so once you get approved for a guaranteed credit card, don’t go by that piece of electronic equipment you’ve always wanted. Finally, don’t get discouraged by rejections, there is a guaranteed credit card for people with bad credit.
Posted: February 8th, 2010 | Author: admin | Filed under: Credit Management | No Comments »
Credit card debt is one of the more primal sources of anxiety in contemporary culture. Although there are many people who never use their credit to live beyond their means, they seem to be the exception rather than the rule. Many hard-working and entirely honest, intelligent people get themselves into situations where there is simply too much to pay. The reasons for this are reasons we are all probably very familiar with. Sometimes there’s a job that’s been promised, or another form of income that is on the way, and we borrow against ourselves, only to find these promises vanish.
Other reasons can be more severe and dire. Emergency medical procedures, even with fairly good coverage with insurance, can start to add up when all the co-pays weigh in. But it’s also very common for people in this society to decide that a better life is just around the corner. We see advertisements and other reinforcements from the media that tell us we deserve better than what we have. If we can start living the good life, it will create a kind of snowball effect where it attracts the same. It seems as though we can live beyond our means, because we deserve it, and because things are about to change. When we wake up and realize that things won’t change, it’s time to reconsider how we do things.
This can lead to a very unstable pattern, however, of getting used to the ebb and flow of panic and denial when it comes to money matters. It sometimes starts to seem as though this is how we are meant to live, even though the debt gets worse each time. It’s a system that simply cannot sustain itself. Although negotiating for debt reduction is always an option certainly, there is also an open option to live with less. Also, acknowledging that we have everything we deserve right now, at this moment, can be a good daily practice, to keep away the feeling of lack and want, in order to open the door to a future that is already better, right now.
In the meantime, chances are that you’re probably feeling as though you’ve gotten in over your head. It’s important to remember that you’re not alone, and this is something most people deal with at least once in their lifetimes. You can certainly negotiate with credit card companies, because they are still run by human beings, which is sometimes easy to forget. Talk to them. Ask about your options. Find out about lowering your interest rate, negotiating for fees to be waived, and ask about other possible solutions. The fact still is, money talks. If you offer to pay off a large sum of your debt up front, they may be willing to work with you for a lower rate for the rest of it. As a last resort, there are consolidation companies, but these should be very closely scrutinized, because it’s possible to get in much deeper with some of the more unscrupulous businesses. Use good judgment.