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Published: Thu, March 30, 2017
Economy | By Melissa Porter

Chip credit cards still not ideal, experts say

Chip credit cards still not ideal, experts say

The exception: If you put your tax payment on a card with a 2 percent rewards rate or higher and then pay it off in full on your next statement, your rewards might exceed the fees - but just by a hair. "For example, about 90 percent of people who asked to have their credit limit raised, got that request granted", said Matt Schultz, a credit cards dot com senior industry analyst.

According to a creditcards.com report, 87 percent of cardholders who asked for a late fee to go away got that fee removed.

Up your credit limit. If cardholders are responsible with that higher limit, it's an easy way to make a almost instant improvement to one's credit score, said Matt Schulz, the site's senior industry analyst.

82% of cardholders were successful in lowering or eliminating their annual fee: 31% negotiated the fee to a lower amount, and 51% got it waived entirely.

All you have to do is look at the back of your card and call that 800 number and it's not just late fees.

Getting out of credit card debt can be hard, especially when you are dealing with fees and interest rates.

93% of people between 27 and 36 who've asked for any of those four things have gotten a yes at least once. "Given the success rate that we've heard, it's certainly possible that this might be able to get done via chat, but probably the most likely way to do it is the traditional way", Schulz says. The worst thing the issuer can say is "no", and a short phone call could end up saving you hundreds of dollars.

About CreditCards.com CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume.

You can find more information about the report here. The Motley Fool recommends American Express.

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