When you type into google 'make your credit card work for you' you'll find a lot of articles with definitely good (although somewhat common sensical) advice like 'pay your card in full' or 'spend within your limits'. I'm pretty sure even for those of us who aren't paying in full, we know we should be doing it. I mean, we're adults, that's how we got a credit card in the first place, right? But I thought I'd share with you a few extra hints and tips from one customer service rep to a customer.
Here's the things I wish I could tell that lovely customer but can't because quality assurance is listening.
1. Call and ask us to reverse fees:
As my mother used to say: if you don't ask, you don't get. Most credit card providers will have a policy whereby they will reverse late fees and interest at least once in a 12 month period. I'll be honest, if you're a nice person and you're talking to me like a human being, I'll be willing to override and reverse even more often. If you make a slip up one month, or even purposefully revolve a balance, just call and ask.
2. Ask for a lower interest rate
If you tend to pay off in full, but have a large purchase coming up that you can't pay off at once, call and ask for a lower interest rate. One thing to note is if you are already paying interest at the moment, the offer won't be there for you. But if you've been paying off in full for at least the last 3 months, we more than likely will have the ability to reduce the rate substantially for the next 6 months.
3. Check the earn and burn rate of points between cards
How many points does your credit card earn? What are those points worth when you convert them into frequent flyer points or cash back on your card? When tossing up between cards in your wallet or on the market, these are the questions you need to be asking. Use the card with the strongest points earn for as much as possible, such as day to day groceries and petrol. You may as well get the most back for money that you need to spend anyway: we all buy groceries.
4. Know your card benefits
Your credit card provider pays their customer service reps for a reason: to serve you guys! Please use us. Do you know how fun those calls are when people call to ask what the benefits of their card are? So fun! I love telling people about the travel insurance, lounge access, in store perks at different shops or smartphone screen cover they have on their card. Do you know how fun it is when people weren't aware they had one free flight a year on their card and they've been missing out for the last 5 years? Not so fun! Sorry buddy: you snooze you loose!
5. Say you want to cancel….even when you don't
In my job there are six magic words: "I want to cancel my card". Sometimes when someone is really unhappy I am wishing they would just crack out that phrase because I may have an offer for you, but I can't offer it to you unless you explicitly say you want to cancel. The more we love you, the more retention bonus points we may want to throw at you. If you want to cancel and we have nothing to offer, well it's a little awkward to admit, but the truth is - we won't be so "sorry to see you go" after all.