How to Ask Your Card Issuer for a Better Deal

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If you're like many people, you may have had your favorite credit card for a few years. But even if it's been a great card for you, you could be missing some of the latest features and rewards. Credit card issuers are constantly introducing new products and offers, and your favorite card may no longer be the best option available. Before you close or apply for a new one, consider asking your card issuer for one of these changes:

Move your credit limits between credit cards

If you have multiple credit cards with the same card issuer, you can request to move credit limits between them. This can be beneficial if the card you use most frequently has the lower limit. Reallocating your credit limits doesn't involve transferring a balance—your balances stay the same and only the credit limits are adjusted.

Get a more convenient due date

When your due date doesn't line up with your paydays or you have too many bills due on the same day, making your payments can be a challenge. To make things easier, you can ask your credit card issuer to move your due date to another day in the month. This can help you manage your finances more effectively and keep your FICO® Score in good shape.

Check for a retention offer

Many credit card issuers offer special offers or discounts to keep their best customers who call with concerns about fees or benefits. If you're willing to negotiate, you may be able to get a better rate or even a bonus reward for staying with the issuer. Even if the offer isn't as good as you hoped, it could still be worth it to stay with the issuer if you value their customer service.

Switch to a different credit card product

If you're not satisfied with your current credit card, but would like a similar or lower-tier card from the same issuer, you can request to switch. You'll technically have a new credit card, but you won't have to put in a new application and your credit report keeps the card history. Another perk: you can keep your credit card rewards if the new card is part of the same rewards program.

Negotiate a promotional interest rate offer

To save money on interest, check with your card issuer for any promotional APR offers available for existing customers. These offers aren't always advertised, but they can provide you with a lower interest rate. This is good to do if you're considering a large purchase or you're looking to transfer a balance from a high-interest rate credit card. You may find it easier to ask for a promotional interest rate rather than negotiate a lower rate.

Get a welcome bonus adjustment

An irresistible sign-up bonus can be a great reason to open an account, but offers can change quickly. If you've already opened a card and you spot a better offer shortly afterwards, there is a possibility you can still get it. You'll have to act quickly, since the spending requirement timeline starts when your account opens.

Make or save a copy of the offer, then contact your credit card issuer and describe the offer. They may agree to match the deal, but have your copy of the offer ready to show them just in case.

Bottom line

It's a good practice to periodically reconsider what you want from a credit card. However, closing a credit card may not necessarily be the best option, since it can impact your FICO® Score. So before you take any drastic steps, contact your card issuer to discuss ways you can get the most out of your credit card. There may be additional benefits or rewards that can save you money or give you more value.

Get your FICO® Score from FICO, for free. No credit card required.

LaToya Irby

LaToya Irby is a financial writer with over 14 years of experience. She's been quoted and published as a credit expert in several major publications including USA Today, U.S. News and World Report, TheBalance.com, and The Chicago Tribune.