Lately every credit card company seems to have a trick up its sleeve. I don’t just mean the countless tempting offers that come in the mail. At least once a week I get a letter from companies I’m already using, letting me know they’ve changed the terms and conditions—again.

Companies have been reducing credit lines and raising interest rates. Basically, they’re trying to cut back on risk and stay competitive in this down economy. I understand that they’re in business to make money, but as a customer, it’s alarming to see the rules keep changing.

If you continue to let your credit card company walk all over you, you may end up with a card that offers no real benefits. Before that time comes, you need to call customer service and start negotiating better terms. It’ll take a significant time commitment, but you’ll come out ahead if you follow these five credit card negotiating tips.

1. Show Them a Competing Offer
Can you get a lower interest rate, bigger credit line, or better rewards from another credit card company? If so, use the competing offer as leverage when negotiating with your current provider. The day that you receive a better offer in the mail is the day you should call your company to explain your position. If you ask for a better rate and back it up with another offer, you start the conversation from a powerful position.

2. Make Some Concessions
It’s a negotiation, so you’ll need to be willing to give something up in return for a better deal from the company. You can control of the negotiation by reminding your credit card company that you can do something for them too. If you carry a balance, for example, offer to increase your regular payment.

Recently, after my credit card company increased my rate a couple of points, I gave them a call to discuss the matter. Rather than simply ask for a lower rate (I didn’t have the luxury of a competing offer) I decided to explain my position. I told the rep that restoring my original rate would give me an opportunity to make more than the minimum payment. This may have been a “little white lie” but it worked. Of course, I paid my balance in full the next month so both of us got what we wanted.

3. Accept Temporary Changes
I am not gullible enough to believe that after a successful negotiation, my credit card company is going to restore my rate indefinitely. At some point they’ll want to raise it again, so they’ll send another notice, and I’ll be back at square one. It’s a frustrating game, but you can take advantage of the situation. There’s nothing wrong negotiating a temporary change. Accept that nothing’s permanent, and you can get your provider to lock in a lower rate for a limited time, such as three or six months. Call again when the end of that term nears, and start up a new negotiating session.

4. Don’t Give Up
Resilience is a key factor in a successful credit negotiation. First, your initial call to the company probably won’t be enough. The first person to take your call may try to thwart your negotiation. If they do, hang up and call back. You may be surprised to find that the next person is friendlier and better able to help.

If you don’t get anywhere on the first day, you won’t necessarily be out of luck tomorrow or next month. Credit card companies are always changing their policies and programs. A “no” today could be a “yes” next week.

5. Speak with a Supervisor
When those initial discussions frustrate you and the reps sounds like they just can’t help all, it’s time to go up the ladder. But remember, raising your voice isn’t going to help anyone see your point of view. Establishing communication with an entry-level customer service staffer is tough enough, and language barriers can make them even more difficult. Be patient. Remain calm.

Your best bet is to explain that you want to speak with somebody else, preferably a supervisor. When you talk to somebody in charge, at least you know that they will hear you out. Sometimes the rep who answers the phone is more of a gatekeeper anyway, daring you to get up the guts to ask to speak with a supervisor. But once you do actually ask, often the supervisor is more than willing to accommodate your wishes to keep you a satisfied customer. If you’re not getting the help you need, you’re well within your rights to ask for someone else. Go for it.

Final Thoughts
Credit card companies change their policies all the time. You deserve answers when they want you to accept a new agreement. Negotiation isn’t easy, so you need to prepare for battle. Block off some time when you won’t be distracted, and summon the strength to hold your ground. If you can resist the urge to give in just because they’re a big corporate machine, you can experience the victory of getting the terms you want.

Have you had a successful negotiation with your credit card provider? How did you get ready for the call, and how long did the changes last?

For a long time, I was firmly against purchasing a smart phone. I figured I was just fine with my old cell phone, saving money by avoiding expensive monthly data plan fees.

However, after talking it over with friends and family, I finally decided to purchase one. I paid nothing for the actual phone, and my plan includes unlimited talk and text, along with a moderate amount of data, for only $50 a month. Considering that I paid $30 for my old phone, the price increase was pretty easy to justify.

Now that I’ve owned my smart phone for a few months, I have found a variety of ways to save money that easily make up for the additional expense.

1. Daily Purchases
For things such as groceries and gas, there are plenty of apps available that can help you save money. With Cheap Gas!, you can find neighborhood gas stations with the best prices, and by using RedLaser, you can easily compare prices of two different sized food items to see which one offers the best price per unit. Grocery Gadget saves you money right at the register, as it displays bar codes for current coupons on your phone’s screen, which the cashier scans to give you an immediate discount. The days of clipping coupons are over.

2. Large Purchases
Whether I’m purchasing a laptop computer or a major home appliance, I always have a lingering feeling that I’m not getting the best price, despite my Internet research. This ended once I put my smart phone to work.

When I find what I think to be the best price for the item I wish to purchase, I scan the bar code using the Shop Savvy app to see if a better deal exists. If one is found, I show the price to the salesperson to see if they’ll match it. Often they do.

3. GPS
Many smart phones come with built-in GPS capability, meaning you will no longer need a separate GPS device. I have found that the map displays are more accurate when viewed through my smart phone.

If your phone does not come with GPS, try the AmAze GPS app. It’s free and offers turn-by-turn voice capability.

4. Time

I’ve found plenty of ways to use my smart phone to save time, which is often as good as saving money. I lead a pretty fast-paced life and am almost always on the go. Being able to read my emails and pay bills throughout the day frees up more time when I get home from work. And with my note-taking app Evernote, my life is now more organized than ever.

Final Thoughts

There are far too many money-saving apps on the market to list here. Simply put, with a smart phone, you have the world at your fingertips. You can organize your finances with Pageonce, save on restaurants with BiteHunter, and get cheap international calling with Skype. There are times when spending a little more money up front will help you save in the long run, and I consider a smart phone to be a good investment.

How do you save money with your smart phone?

Most people know a thing or two about auto insurance, home insurance, health insurance, and life insurance. It makes sense, as these are common policies that tens of millions of people pay for, month after month. But while these may be the most common types of insurance, there are others that offer very targeted coverage that you should be aware of. Just because a policy is obscure doesn’t mean that you should avoid it.

Consider the 5 types of insurance listed below:

1. Wedding Insurance
There is no denying that weddings are expensive. In fact, the average wedding costs more than $20k. But what happens if you spend all that money and nothing happens? What if the groom decides he doesn’t want to get married? What if bad weather throws a wrench into your plans? These unforeseen situations are where wedding insurance can really come into play.

Believe it or not, wedding insurance only costs between $200 and $500, depending on the amount needed and the disasters that are covered. If you’re already spending thousands upon thousands of dollars on your big deal, why not buy a policy that will protect you financially?

2. Fantasy Sports Insurance
Every year, millions of people get involved with a fantasy sports league. And every year, many people lose because one or more of their players is injured in real life. If your star pitcher tears up his shoulder and is out for the season, your chance of winning just went down the drain. As crazy as it sounds, with fantasy sports insurance, should something like this happen your entrance fee will be refunded.

3. Key Person Insurance
Every company has at least one “key person” who is essential to the overall well being of their organization. Most of the time this is the Chief Executive Officer. So what would happen if this person was injured or suddenly died? With a key person insurance policy in place, the company would receive a payout. While this is certainly no consolation, it is better to have the money than to be stuck and searching for a quick replacement.

4. Kidnap and Ransom Insurance
This is nothing fun to think about, but as of late kidnap and ransom insurance policies have become popular. This is due, in large part, to increased terrorism. Many big companies and wealthy families buy this type of protection. It is very common amongst companies and individuals who do business in high risk areas (where kidnapping is common), such as the Middle East.

5. Art Insurance
Do you have a lot of expensive art in your home? If so, your homeowner’s policy may not cover the entire value, if anything at all. It is better to pay a small monthly premium than to hope that your art is never damaged or stolen. No, a piece of art can never be replaced. That being said, you can be compensated for the value, should it be stolen.

Insurance policies can be had for a myriad of situations and scenarios. Some of these insurance policies may seem completely unnecessary, while others may be a perfect fit for your needs and lifestyle. However, the more you learn about these types of insurance policies, the better prepared you’ll be when and if disaster – in all its different forms – ever strikes.

Do you own any of these types of insurance policies? Do you have a policy even more obscure than these? Sound off in the comments and let us know whether you think these insurance plans are worthwhile or not.

(photo credit: Shelley Panzarella)

People love their pets. This is particularly true with dog owners. Our beloved dogs are pampered, groomed, and even clothed. We make them into a regular part of the family. As more and more canine “luxury items” have begun to hit the marketplace, we’ve jumped on board to spoil our furry friends with these things, too. But have we gone too far?

When it comes to your dog, yes, there are definitely some luxury items that are worth buying. However, there are also some things that are nothing more than a waste of money. You need to know how to differentiate between the two, and ensure that you are spending your money wisely. Once educated, the level of love you give your pup is up to you.

What to Buy

1. Organic Dog Food
This is one luxury item that’s really worth some consideration. Many dog owners have found that traditional dog food is full of ingredients that may not be best for Fido. For this reason, the organic dog-food industry is taking off.

Since organic food is made from all organic ingredients, it is healthier for your dog. Additionally, this choice carries the same perceived environmental benefits as the organic foods that you yourself might choose to eat. Some of the most popular brands include: Wellness Dog Food, Canidae Dog Food, Natural Balance Dog Food, Blue Buffalo Dog Food, Solid Gold Dog Food, and HALO Dog Food. If you are interested in buying organic food for your dog, compare the brands above before making a purchase.

2. Homemade Dog Treats
This may be a stretch for some owners, but your dog deserves something special from time to time. There are many places to purchase homemade dog treats. For example, shopping malls have kiosks, and you can even find independent bakeries. Of course, you can buy all the proper ingredients, find a recipe online, and do it yourself.

This is definitely considered a luxury, but it is one that you should consider giving your dog. After all, homemade treats don’t cost much more than those that you can buy at the grocery store.

3. Orthopedic Furniture
Believe it or not, there is a huge market for orthopedic dog-furniture. For example, does your dog have a bad hip? If so, try an orthopedic bed. These are meant to alleviate pain and increase comfort for your ailing pet. These cost more than standard dog beds, but since they are made with memory foam, they are able to alleviate pressure on the joints and bones.

What Not to Buy

1. Luxury Clothes
Your dog is not a person! It does not need sweaters that cost $50 or shoes that are more expensive than the ones you have on your own feet. If you are going to purchase clothes for your dog, stick to affordable items. You can get something that looks great at a bargain price. After all, your dog won’t treat a luxury sweater with any more concern than a sale sweater.

2. Excess Furniture
From chairs to sofas and loungers, the dog furniture industry is booming. The question remains: does your dog really need the same furniture options as you? What happened to letting Spot sit on the floor? Pick the right-sized crate and maybe splurge on a nice bed, and you’re probably good to go.

3. Gold-Plated Dog Bowls
That’s right, these do exist. Seriously, does your dog really deserve to eat out of a bowl while you serve yourself dinner on a paper plate? Your dog does not care if it’s eating from an expensive bowl; it just wants food. Save your money for something more important, or better, take the amount you would have spent on a sparkly bowl, and donate it to a shelter in your area.

As you shop for luxury items for your pet, consider the points above. These will help you determine where to spend your money, as well as what you should and should not be buying.

(photo credit: epSos.de)