Secret to get your credit card annual fee waived!

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
bmw1990Z
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Postby bmw1990Z » Fri Apr 27, 2012 9:26 pm

I know plenty of people who have used this tactic to with Amex and it works fine regardless of their card level. That being said I also see your point. You should never apply for a card expecting that you can get the fee waived. As discussed on the forum, the fees for amex cards are well worth it, however it is nice when said fee is taken care of for you.
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FastSRT8
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Postby FastSRT8 » Fri Apr 27, 2012 9:39 pm

Try with a card you don't really care about. Hone your skills and then try it with a card you do like.
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American
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Postby American » Sat Apr 28, 2012 9:07 pm

Waiving or refusing to pay annual fees seems like a lot of energy for a rather small battle. I have two Amex's with annual fees. I have the Gold PR and the Blue Cash Preferred, so each year I pay $250 in annual fees. I probably get $300-400 of rewards for my gold PR, and I make back about $500 from my Blue Cash, so I pay $250 and I get a minimum of $800 in rewards. Plus, I get two wonderful cards that have amazing Customer Service, which you can't put a price on in my experience. I pay roughly $21 a month in annual fees for two incredible cards. It's well worth the money when you're not dealing with predetory banks. Granted, I won't be opening 5 cards with annual fees or pay for annual fee for a card I rarely use.

If you're fretting about paying annual fees, really consider the time and what benefit you get from the annual fee both rewards and benefits of that card.
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JCarter
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Postby JCarter » Mon Apr 30, 2012 10:38 pm

American wrote:Waiving or refusing to pay annual fees seems like a lot of energy for a rather small battle. I have two Amex's with annual fees. I have the Gold PR and the Blue Cash Preferred, so each year I pay $250 in annual fees.


I'll pay your annual fees if you pay mine.

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FastSRT8
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Postby FastSRT8 » Tue May 01, 2012 12:00 am

JCarter wrote:I'll pay your annual fees if you pay mine.


Hahhahahaah your annual fees my friend would be something short of amazing ;)
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PlatinumAMEX94
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Postby PlatinumAMEX94 » Tue May 01, 2012 12:27 pm

You can always save up your MR points and buy AmEx gift cards and then apply them to your account to offset the fees.
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PopiLopi
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Postby PopiLopi » Thu May 10, 2012 1:45 pm

PlatinumAMEX94 wrote:You can always save up your MR points and buy AmEx gift cards and then apply them to your account to offset the fees.


That's actually not possible, you can't use gc's to pay your card balance. Your options to use your Amex MR points to pay your annual fee are:

1) Pay Fee with pts at the ratio of 166.67:1
2) Get gift checks or travelers check to put them in your checking account and pay the fees, usually ratio is 200:1, but they run discounts every quater that range between 20-50% off, so if you get the 50% off you get the 100:1 ratio
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PlatinumAMEX94
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Postby PlatinumAMEX94 » Thu May 10, 2012 4:58 pm

PopiLopi wrote:That's actually not possible, you can't use gc's to pay your card balance. Your options to use your Amex MR points to pay your annual fee are:

1) Pay Fee with pts at the ratio of 166.67:1
2) Get gift checks or travelers check to put them in your checking account and pay the fees, usually ratio is 200:1, but they run discounts every quater that range between 20-50% off, so if you get the 50% off you get the 100:1 ratio


When you are a Platinum or Centurion member you are enrolled in what is called Membership Rewards FIRST program, which has different conversion rate, as well as different discounts that other MR programs. There has always been complaints from Zync members as the cash in value is not so great.
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JCarter
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Postby JCarter » Thu May 10, 2012 5:44 pm

PlatinumAMEX94 wrote:When you are a Platinum or Centurion member you are enrolled in what is called Membership Rewards FIRST program, which has different conversion rate, as well as different discounts that other MR programs. There has always been complaints from Zync members as the cash in value is not so great.


You gave away the secret! ;)

Moneytalks
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Postby Moneytalks » Thu May 10, 2012 6:45 pm

PopiLopi wrote:That's actually not possible, you can't use gc's to pay your card balance. Your options to use your Amex MR points to pay your annual fee are:

1) Pay Fee with pts at the ratio of 166.67:1
2) Get gift checks or travelers check to put them in your checking account and pay the fees, usually ratio is 200:1, but they run discounts every quater that range between 20-50% off, so if you get the 50% off you get the 100:1 ratio


So if I call Amex to "waive" the annual fee through reward points, how many should they offer in order for it to balance out?? (Lets say $95 fee)
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