Many people demonize credit card companies and see them as pure evil caring solely about money. But treating them as any other business may be a much more pragmatic approach. Who has a real control of a business? Right, an ideal customer that is not supposed to leave.
The trick is that it doesn’t matter that much whether you pay interest or not. Banks like predictable and riskless borrowers. They make profit not only from your interest payments but from every credit card transaction. For example, there is a transaction fee paid by all merchants for the privilege to accept credit cards.
So the ideal client is the one who always pays their balance in full and on time. And, yes, the one who regularly puts significant spending on their credit card. If you spend, let’s say, $2,000 a month and always pay off your balance in full and on time for many years, then you look ideal to a bank.
There are different situations when you need to negotiate with your bank. For example, you may want to settle your debt or get lower rates. And it may be complicated to persuade the bank to meet your needs. However, all changes when you are an ideal client. All companies care about their ideal clients, and banks are not the exception.
All you need to do is to call your bank and simply ask them for what you want. Of course, your requests may hardly concern debt, otherwise you would not be that ideal. But some accidental troubles like late payments or similar things may be resolved to your advantage. Just remember that occasional means once per year or two.
Be ready that sometimes your needs won’t be fulfilled on the first request. Keep asking. Another rep or a supervisor may turn out to be more loyal. Just find the nerve to call and ask for what you want.
If being ideal is not your way, then be creative, and it still may work for you. There are always alternative opportunities for any financial situation:
Credit card companies as any other businesses care about their profit. They cannot meet all your needs but they definitely want to keep their ideal clients.