Money Saving Phone Calls: What to Say If You Miss a Credit Card Bill
How many times have you logged into one of your credit card or bank accounts and seen a bogus charge or late fee appear out of nowhere? You wanted to call the company right away and have them refund your money, but you had no idea what to say to get the fee waived. So you just let it slide. Time after time.
Potential savings: $30-50 per late payment.
You. "Hi, I noticed I missed a payment, and I wanted to confirm that this won't affect my credit score."
Credit Card Rep. "Let me check on that. No, the late fee will be applied, but it won't affect your credit score." Note: If you pay your bill within a few days of your missed bill, it usually won't be reported to the credit agencies. Call them to be sure.
You. "Thank you! I'm really happy to hear that. Now about that fee. I understand I was late, but I'd like to have it waived."
Credit Card Rep. "Why?"
You. "It was a mistake and it won't happen again, so I'd like to have this fee removed." Note: Always end your sentence with strength. Don't say, "Can you remove this?" Say, "I'd like to have this removed."
At this point, you have a better-than-50-percent chance of getting the fee credited to your account. But just in case you get an especially tough rep, here's what to say:
Credit Card Rep. "I'm very sorry, but we can't refund that fee. I can try to get your latest blah blah marketing pitch blah blah. "
You. "I'm sorry, but I've been a customer for four years and I'd hate for this one fee to drive me away from your service. What can you do to remove the late fee?" Note: Remember, credit card companies don't want to lose you over one late fee.
Credit Card Rep. "Hmm. let me check on that. Yes, I was able to remove the fee this time. It's been credited to your account."
Powerful Telephone Scripts | I Will Teach You To Be Rich
Ramit Sethi is a New York Times best-selling author who writes about personal finance, psychology, and careers. He was recently featured in Forbes Magazine next to Warren Buffett as one of 20 Wealth Wizards. He also teaches word-for-word scripts to make extra money. lower your monthly bills. and improve your salary negotiation .
Illustration by Nick Criscuolo.
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