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| While it may seem like you're at the mercy of credit card companies and others that you owe, in reality, you probably have more power and leverage than you suspect when it comes to

dealing with creditors.  SIGN UP FOR AARP'S MONEY NEWSLETTER. Once you discover a few profound truths about credit card companies, you'll not only more successfully juggle your

financial obligations, but you'll also know how to maximize your credit cards for all they're worth. Here are a few little known secrets about credit card companies that a banker

isn't likely to tell you. THEY'RE DESPERATE FOR YOUR BUSINESS Even though they make huge annual profits, banks are reeling financially. For starters, it's costly for banks to

market to consumers and attract new clients. TV and print ads are expensive. So is direct mail. Only a tiny fraction of people open junk mail or reply to offers for new credit cards and

balance transfer deals. Plus, because of a host of regulatory changes over the past year or so, and new laws such as the CARD Act, (officially called the Credit Card Accountability,

Responsibility and Disclosure Act), which governs credit card issuers, banks are set to lose tens of billions of dollars in yearly fees. All of this has made banks a bit more desperate to

drum up new sources of revenue; a fact that puts individuals with stellar credit ratings in the driver's seat. If you have excellent credit, banks are falling all over themselves to

compete for your business — especially when it comes to offering credit cards with travel rewards, cash back offers and other perks. "The credit card industry," says Curtis Arnold,

founder of CardRatings.com, was "on a roller-coaster ride in 2010. "The first of the year was filled with doom and gloom and there was a lot of talk about higher rates and fewer

perks." As the year ended, however, people with good credit began getting attractive credit card offers in the mail, with banks going all out on rewards cards promotions in particular.

These days, "neither the CARD Act nor the credit crunch have killed the industry," says Arnold. "On the contrary, it seems that at least a few of the juicy card offers that

consumers with good credit enjoyed a few years ago are back with a vengeance." The abundance of tempting credit card offers available means you can pick and choose among the best deals

being offered. It will also give you room to negotiate with credit card companies like never before. Photo by: JGI/Tom Grill/Blend/Corbis THEY'LL FORGIVE YOU AT LEAST ONCE