Make Credit Card Companies Your Bitch

Blueprint for Financial Prosperity reminds us that savvy consumers can take advantage of credit card companies hellbent on turning a profit. Most credit card companies will go to great lengths to keep their customers happily spending away. Use these tips to make them cater to your every financial desire:

  • Ask: Most companies will waive or reduce fees upon request.
  • Consolidate Credit Lines: If you have several cards with one provider, boost your credit score by asking to consolidate your charges and credit limits onto one or two cards.
  • Boost Your Credit Limit: Creditors will usually increase the credit limit of loyal customers with good credit without harming their credit score by requesting a credit report. Wait at least a year before making the request.
  • Escape Foreign Transaction Fees: If you are planning a hop across the pond, ditch your Visa and Mastercard in favor of Discover or Capitol One. Neither levies a foreign transaction fee of 1% or more.
  • Switch Rewards Programs: Stuck with frequent flier miles when you want cash back? Most creditors will allow you to switch programs if you ask nicely.
  • Warranty Protection: Cards often extend, or even double, manufacturer warranties. Know what protection your card offers, and take advantage when making large purchases.
  • Insurance: Like warranty protection, some cards will provide insurance on car rentals.
  • It should go without saying, but none of these tips work unless you use credit responsibly: don’t take on more debt that you can afford, and always, always, always pay your credit card bills in full each month.

    7 Unwritten & Often Forgotten Credit Card Secrets [Blueprint for Financial Prosperity]
    (Photo: Getty)