Afford Anything | Make Smart Choices About Your Money, Time And Productivity

#562: More than 90 percent of people who ask to get their credit card annual fee reduced are successful. Yet most people never ask.  Why? They assume the answer will be no. Matt Schultz, the author of “Ask Questions, Save Money, Make More,” joins us to explain the psychology and tactics behind successful negotiation.  The key insight: companies want to keep your business. Banks, employers, and service providers invest in long-term relationships because it's more profitable than constantly finding new customers.  This gives you more leverage than you might think. For credit cards, Schultz points out that calling the retention department directly (rather than general customer service) often leads to better results. He shares his own experience of getting his $600 annual fee cut in half just by making a yearly call. With mortgage negotiations, Schultz suggests getting quotes from 3-5 lenders on the same day, since rates change frequently. A quarter-point rate reduction on a $360,000 mortgage saves $20,000 over t