Credit Card Negotitions That Work For Your Clients

I have used this myself. This is a fast way to increase clients credit score fast. This will have a big effect on their utilization factor (Increasing the span between credit used and credit available). This is calculated by percent. Having below 50% utilization is good. However, below 25% is alot better. This is done without any money out of their pocket and can have an immediate score increase.

STEP ONE: INCREASING LINES OF CREDIT

ME: Hi. I'm calling to make some adjustments to my credit card. First, what is my current credit line limit?____________

THEM: Your credit line limit is ____________

ME: I am going to make a significant purchase and rather than using more than one card, I would like to use this as my primary card. In order to do this, I will need to raise my credit limit.

THEM: How much would you like?

ME: What are you authorized to offer me? (If they offer less than what you are looking for, continue to negotiate through Steps Two and Three, then, ask to speak to a supervisor, as outlined in Step Four)

OR

ME: I would like to increase my credit line to _____________

THEM: I can raise your limit to ___________(if this is acceptable, move to Step 2)

OR

THEM: We will be back in touch with you in 72 hours, etc.

THEN,

ME: What can you do for me today?(if their response is not acceptable to you:)

ME: Thank you for your assistance. Now, I would like to speak to a supervisor.

(return to script, and begin again)

SCRIPT TWO: DECREASING INTEREST RATES

ME: What interest rate am I currently paying?

THEM: ____________

Me: I would like that interest rate lowered immediately.

IF THEY DO NOT DECREASE YOUR INTEREST RATE TO GOOD LEVEL:

ME: I'm confused..I receive offers in the mail quite frequently that are for ____% interest. I realize these are introductory offers, but in order for me to be comfortable using this as my primary card, I would think you could be more competitive. Can you reconsider and meet me at least part way for a limited period of time?

THEM: We could go down to _________for_________months.

ME: Thank you very much.

STEP 3: ELIMINATING ANNUAL FEES

ME: AM I currently paying an annual fee for this card?

THEM: You are paying_________per year.

ME: What benefits am I receiving for this fee?

THEM: You are receiving_______________________________

If you are just paying for the privilege of holding the card:

ME: I would like that fee credited and discontinued.

THEM: Okay.

STEP FOUR:NEGOTIATING WITH A SUPERVISOR

Me: Thank you for your help. Now, I would like to speak to a supervisor.

WHEN THE SUPERVISOR GETS ON THE PHONE

ME: Hello, I have been speaking with one of your representatives, but I need some additional assistance.(continue negotiations, beginning with Step one, as appropriate)

Keep me updated on the progress and how it works. Thanks, Royal..