Most credit card companies can’t wait until their customers miss a payment or pay late.  They also look forward to customer’s that exceed their credit limit.  These are some of many gateways that credit card companies look for in order to raise their interest rates and to charge additional fees – large fees – to their individual customers.  However, there are a few credit card companies that are changing their ways to better cater to customers.

Citigroup has eliminated “anytime, any reason” fees and interest rate changes. Citigroup will now only change their interest rates and fees when a customer’s card has expired (every two years) or if the card holder pays late, exceeds the credit limit, or bounces a check.

Chase has also announced a similar practice to be enforced.  Chase has put an end to using their two-cycle billing system for determining a customer's unpaid balance, which many customers never understood because they would still be charged at times even when they paid their bill in full.  The company is now using the more common approach of their customer’s average daily balance. Chase hopes that the elimination of the billing practice will benefit customers by reducing finance charges.

Capitol One has also jumped on the band wagon for changes among credit card policies. Capitol One’s new approach is to simply put their credit terms in “plain English” so their customers do not get caught with problems because of a not reading between the lines or misreading the fine print. 

This is not to say that all credit card companies have changed their ways and will better address their customers. However, it is becoming a new era among credit card users – their credit card companies should be working for them, not the other way around. Credit card owners have a right in the cards they use. Credit card users have a right to the card(s) they use, and with that, their choices should work for them. It is the scenario of the government versus the people: the government would not run if it were not for the people making the ultimate choices and decisions. The government in this case is the card companies, and the people are its customers.  The government and the credit card companies both work for the people, their customers.

If you are having problems with your credit card company, do not hesitate to talk to them about it. If your credit card has recently changed the terms of your credit agreement in a way you don't appreciate, make a complaint. Maybe the company has added an annual fee, increased your late fees, or shortened your grace period. In some cases, the credit card issuer will change the terms back, just as sometimes they won’t – but it doesn’t hurt to try.  You can also ask, without rhyme or reason, for better interest rates, especially if you are caught in debt and carrying a current balance. Shop around for the best deal(s) with credit cards and what works the best with you. Just as any major company or store, credit card companies may try to compete with other offers you may find to keep you as their customer. Make sure you use other offers and deals in your requests for changes. If you fail to change your credit card company’s individual policyfor you, you can always bring your business elsewhere.