How to Negotiate With a Bank
- 1). Dfine what you want to negotiate with your bank. If you want a lower interest rate on a credit card, or a fee waived, it is important to know what you want and why it should be offered to you.
- 2). Visit the bank in person and speak to customer service representative if possible. A face-to-face conversation is more effective when negotiating with your bank.
- 3). Acknowledge any mistakes you have made in the past, and express a desire to change the situation.
- 4). Explain any extenuating circumstances your bank may not be aware of, particularly if you are working out a payment plan or trying to have fees waived.
- 5). Offer a specific payment plan or the benefits that the bank will receive by negotiating with you. Most banks are willing to work with people who offer a payment plan because they want to receive the money owed to them.
- 6). Ask to receive the agreement in writing, and file it in your permanent records.
- 7). Follow the terms of your agreement or you will lose the benefits you gained in the negotiation process.
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