The credit card industry is highly competitive, and to maintain its clientele, they need to be flexible. Therefore, the terms of your credit cards are not always binding. There are a lot of things you can work out with them. However, some things are not negotiable such as the terms of a special offer. Understanding what you can negotiate and how is crucial.

The following six items are negotiable with your credit card company.

A payment due date is given to you when you apply for a credit card, but it may not always be the most practical time for your schedule. Most credit card companies let you change the payment due date to one that works best for you. If you are worried that you will not have enough funds to make your payments, setting your due date to immediately following your paycheck might be the best option. Just be aware of which billing cycle the new due date applies to.

Credit cards are well known for their high-interest rates. It is one of the most frequent justifications for credit card users to negotiate. The best time is when you receive a low-interest or a 0% APR credit card offer from another company. It will make a significant difference if you can demonstrate that numerous cards offer ongoing interest rates that are significantly lower than what you are paying and have the option to shift to a different company if they do not offer better interest rates.

A lower interest rate means that your debt accumulates more slowly and helps you to pay it off more quickly. A startling 68 percent of consumers who requested a lower credit card rating succeed in getting one, according to a 2010 survey by Lending Club, a significant peer lending network in the United States.

In addition to costing you money, late payments can harm your credit score. If you are a recurring late payer, your credit card company probably will not be sympathetic. But if it is your first time, they may do so, as many companies waive the (often significant) late fees once every year or two.

When you know your payment will be late, contact your card issuer and explain the situation. Ask them not to bill you a late payment fee or notify the credit bureaus about your late payment just once. It will prevent this one late payment from ruining your credit and help you save money.

Are you tired of paying an annual fee to use your card?

There is no guarantee that your request will be granted, but your credit card company might be open to lowering or even eliminating your fee, particularly if you generate income for them through interest fees or frequent card use.

However, the type of card you use will also influence the chances of negotiating annual fees. High-end travel rewards card issuers will not waive the fees due to the lucrative benefits these cards offer, like free flights.

Still, many issuers would prefer to keep you as a client and forego a fee, so it may be worthwhile to make the effort.

Do not freak out if you have run into financial trouble and cannot make the minimum payment on your credit card. Make a call to your credit card company right away. Discuss your situation with the representative, and see what they can do to help. You may frequently be able to bargain for a lower minimum payment in these circumstances. You will maintain your good standing without going above your spending limit.

You can discuss a long-term repayment plan or forbearance agreement with your credit card company if you are in a dire financial state. Credit card issuers offer these programs to give consumers temporary relief when they experience financial hardship due to a recent job loss, a furlough, or a reduction in working hours. Although each program is unique, you can typically anticipate getting help with your monthly payments and other advantages like lowered interest. Another benefit is that when your credit card issuer consents to such an agreement, they will not inform the credit bureaus of your failure to make payments, so it will not impact your credit score.

Due to their unwillingness to bargain, many consumers overpay for fees and interest. Remember that the credit card company relies on your timely payments as loyal customers and does not want to lose your business.

Also, in the worst-case scenario, they will refuse your request, and you will receive the same level of service as before, so nothing is lost.