Expressions used in Everyday Spoken English in Social and Professional contexts
A 'bargaining chip' can be anything you use as leverage in a situation, in the hope of getting what you want. You can use a 'bargaining chip' to gain advantage over someone when a deal or contract is being discussed, and it can be a threat of negative action, a promise of positive action, or something physical or financial that you offer. It can also be information that you might use to your advantage in negotiations. This is mostly used in business situations.