The way these companies handle your accounts has a lot to do with why your credit card debt is so hard to get rid of. When you owe a few thousand dollars to a credit card company and they are constantly slapping you with fees, they jack up your interest rates and add charges to your account for “membership dues” and other bogus things, it becomes clear that in addition to the debt, the debt carriers are not your friend when it comes to reducing your debt.

Did you know that you can put them on notice and make them march to your tune, but to do that you are going to have to take charge and be the boss. Let’s say you get dozens of credit card offers and perhaps have several credit card accounts already open, you may have the flexibility to put the credit card companies on notice and let them know that is time they serve you as a customer instead of you serving them.

To make these big companies stand up and take notice of you, they have to know that they can be fired. To prepare for battle you must first make sure you know what they are up to. To do this you will need a year’s worth of statements so that you can track the extra fees, the membership dues and make note of each time they have raised up their interest rates on your account.

Then armed with that information, call them and politely demand to talk to someone (a supervisor) who can make changes to your account. If they don’t want to play ball, tell them to start the process of closing the account. That will get their attention. You might have to actually close the account but don’t miss the chance to make comments when they come to the part of the process where they ask why you are closing the account.

This is where you get your licks in. You can leave as the reason something like this. “I am closing the account because you are imposing unreasonable fees and membership dues and I want the interest rate dropped to a certain rate and capped.” That will get some effective attention. You will either get to a manager right away or one will call you.

Don’t lose your nerve, don’t argue and be prepared to hear a bunch of lame excuses. They can come up with one after another because that is what they are trained to do. They can say things like; they raised your interest rate because you were late on a payment so this is a penalty.

A good answer to that would be, “I have no other choice than to close my account.” As long as you stay strong, there is no response that they can give other that to work with you on your terms, because you have a secret weapon that they don’t want you to know you have and that is that you are a premium customer.

The credit card companies know there is a limited amount of people who can carry a debt and make the payments. And each time they lose a customer, that pool of victims, or customers, goes down. And don’t be fooled by any talk that they have no leverage to change the rules of the game. They can and they will.

You can even go as far as to demand that they refund all charges they imposed in the last year. They can insist that you are being unreasonable all they want. You are well within your rights to respond with, “It’s unreasonable of you impose fines and fees on my account without notice and for no additional value added to my account. Its usury (charging of unreasonable or relatively high rates of interest) and I am within my rights to close this account and file a complaint with the Better Business Bureau and with the US Attorney General.”

These aren’t just scare tactics. These are words that credit card companies live in fear of hearing. So use the tools you have and put the credit card companies on notice that they are going to march to your tune or you will take your money elsewhere!

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