Small Business Financing Blog

Small Business Advice

7 Actionable Credit Card Tips to Save Money

7 Actionable Credit Card Tips to Save Money

Aren’t we all looking for smart ways to save a little money?  When it comes to your credit cards, there are plenty of ways to work the system and cut costs. Consider a few of these in your approach:


Waive Annual Fees

For some cards, annual fees are a built in expenses for the privilege of having the card.   An annual fee is also something you might be able to get waived with a simple call your card issuer.  Sometimes the fees can be waived easily, other times you might have to indicate your intention to cancel the card, citing the fees as the reason.  Expressing such intent will probably result in your call being transferred to another representative in the “retentions” department, where they can waive fees or offer other benefits to keep you as customer.  The card companies spend a lot of money in their pursuit to acquire new customers; it only makes sense to spend less in order to retain a current customer.


Credit Card Tips


Request a Charge Back

Have you ever bought something only to find it was nothing like what you thought you purchased, or was broken or not what was advertised.  You can always try to return the item, unless the merchant is unwilling to take it.  When dealing with a merchant, a lot of people will try to do battle with the company that treated them wrong.  Instead of wasting your time arguing with a business that isn’t going to make it right, just contact your credit card issuer and request a chargeback.  The Fair Credit Billing Act specifies that credit card users can receive a refund if they do not get what they paid for, or if the goods or services received are not what were ordered.  The process is really quite simple, and you will quickly receive a temporary credit on your account that will become permanent once you provide documentation to support your claim.



If you’ve ever had a credit card application rejected, then you probably started wondering what could possibly on your credit report that caused you to be denied.  With most of the card issuers, some online applications are turned down, even when they have excellent credit.  The reasons vary from having too many recent applications, to already having too much credit extended.  However, you can simply call the card issuer and have your application manually reviewed by a representative.  At that time, you can take this opportunity to update your application and include any additional income you were unable to list on the original application.  You can even suggest transferring part of your debt or even closing an existing account to reduce their risk.


Requesting Late Fee Waivers

Everyone can make a mistake, but a late payment to your credit card account can get expensive.  Fortunately, most card issuers are willing to waive these late charges if you simply call them and request it.  It’s usually worth it to them to waive a late fee, and possibly even interest charges, in order to keep a good customer.  Afterward, make the effort to go and set up auto pay or auto billing to ensure you are never late again.


Asking for Bonus Rewards

Many credit card issuers will offer promotions that enable you to earn extra bonus rewards in the form of points, miles or cash back.  You might get triple rewards by making purchases at certain merchants or gas stations during a specific time period.  Sometimes these offers arrive in your email or with your statements.  By making a quick call to your card issuer every few months, you can simply ask them if there are any bonus offers that can be applied to your account.


Bonus Bumping

Have you ever applied for a new credit card with a nice sign-up bonus only to find out there was another offer available with an even better bonus?  Ironic isn’t it, well don’t worry.  You may be able to get the other offer anyway.  Simply contact your credit card issuer, tell them about the offer, and ask them to apply the other “offer code” to your account.


Multiple Routes of Communication

With most of these tips, a simple call to customer service is usually all that is necessary.  If you don’t get the results you wanted, try again.  The next representative might be better able or willing to help you.  Or you might try using your card issuer’s online web chat if they have it.  You can even try social media platforms instant message to the customer service department.  Ask for a supervisor, or you can try communicating with different departments of your card issuer, if you’re willing to call, someone there is willing to help.

About tom

Featured Small Business Resource

Free ebook: 16 Best Financing Options For Your Small Business

Leave Your Comments

Your email address will not be published. Required fields are marked *