Special Credit Card Deals and Promotions

Special Promotions and Deals

If you can't get a lower interest rate offer, you should feel free to call your highest rate credit card bank. Dial the customer service number on the card statement. Ask for marketing. When they put you through, simply ask if there are any special promotions going on that you should know about.

You may be pleasantly surprised by how cooperative they may be (the larger credit card issuers are usually the most cooperative).

If you're more desperate, you might want to say something like "I think I deserve to get my interest rate reduced, after all I've been a good customer.

I dislike having to go through the hassle of transferring the balance to another bank - but I will if that's what it takes to get a lower rate".

If you have a reasonable payment history - chances are excellent they will work with you. Never forget that they need you as much as you need them - or more. They hate to lose good customers (especially those who pay their bills on time). Be prepared to do a deal right there on the phone but watch out for any traps. (Like the balance transfer being processed as a cash advance)

All credit card banks have special deals they will offer that their customer support reps are empowered to offer. Even the most hard-nosed banks will get very flexible if they think they're about to lose a large account. They may not be the very best deals available but they are usually quite easy to obtain - but you have to call and ask or you get nothing.

If you have been late with a payment or two you can expect that most issuers will notify the big three credit bureaus and you'll end up with one or more negative marks against your credit history.

Though those marks will remain for around seven years, the good news is that you can start to rebuild your credit right away. (More on that later) Just be sure to make all your minimum payments right on time.

In three to six months you'll start getting lower introductory rate cards with rates around 10-12%. If your record is very bad, it may take a year - but no more. Your most recent payment history is by far the most important element in your file.