A recent LendingTree survey reveals that credit cardholders have a high success rate in getting various fees and interest rates reduced or waived upon request. Despite persistent inflation and high debt levels, 76% of those who asked for lower interest rates were successful, with an average reduction of 6.5 points. Late fees saw an even higher success rate, with 89% of requests granted. Foreign transaction fees and balance transfer fees were also frequently waived, with success rates of 64% and 59% respectively. However, many cardholders still don't take advantage of these opportunities, either because they are unaware they can ask or they doubt their chances of success. The article emphasizes the importance of being proactive and provides tips for negotiating these financial breaks, such as checking your credit score and practicing your negotiation skills. The findings suggest that consumers have more power over their finances than they realize, but they must take the initiative to ask for these benefits.
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