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.
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colare
 
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Secret to get your credit card annual fee waived!

Postby colare » Wed Jan 05, 2011 3:36 pm

Want to know how to waive credit card annual fee? My rewards card from Citi started charging an annual fee and it was for annual spending not reaching a certain level. I like Citi and the card is good meaning I am not interested in canceling it. What I don't want is the new fee that comes with it. What do I need to say or do to have them waive the credit card annual fee?


jeffysdad
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Postby jeffysdad » Wed Jan 05, 2011 4:19 pm

Call them up and tell them about all the other cards that don't charge an annual fee. You should have or open at least one of these anyway. Try using a different card for a while and then call Citi again after your balance has been at zero for a while on their card.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

concorde
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Postby concorde » Thu Jan 06, 2011 1:08 am

I had this occur with my Spirit card and I was given the option to downgrade to a no annual fee version. It earned half the points but it was a way for me to keep my account open with the points I had earned without paying an annual fee.

CCG
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Postby CCG » Thu Jan 06, 2011 6:31 pm

Annual fees are the new revenue generator in the credit card world in the post-reform era. Not every issuer will negotiate but for those that cannot waive the annual fee outright, reportedly some will issue bonus points or rewards to offset the cost for a year if you threaten to cancel.

Good luck,
CreditCardGuru

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Cucumber
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Postby Cucumber » Mon Jan 24, 2011 2:47 am

Beg and threaten, that's my tactic :ppp

Plead your case and explain how you're the best customer in the whole wide world and they would be foolish to let you go as a customer over the annual fee.
OBAMA
Stop talking crap about him!

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Elliot Castro
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Postby Elliot Castro » Mon Jan 24, 2011 11:14 am

These are useful tips, though unfortunately they do not always work, (but are worth a try). Here's an archive from one of my past attempts:

Note: Inside brackets are my edits.

Hi (Mr. Complainer),

Unfortunately we are unable to offer a waiver of the annual membership
fee at this time.

Thanks for being a (complaining) customer.

Regards,

(Complaining) Online Banking




Original Message Follows:
------------------------
Account ending in: XXXX

I have recently obtained a MasterCard from a competing organization. Not
only are the benefits very nice, but they also do not charge an annual
fee.

I would like to inquire if (Complaining Bank) could waive my annual fee on my
Gold card, other wise it seems best to me to just cancel it outright.

Thanks in advance.

Moneytalks
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Postby Moneytalks » Thu Apr 26, 2012 9:19 pm

Nice letter! short, sweet, to the point, but in the end, money is sometimes more important than the customer... though usually they will negotiate I hear, I have yet to close a card or ask to waive a fee
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

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FastSRT8
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Postby FastSRT8 » Thu Apr 26, 2012 9:21 pm

LOL these are credit card companies not your cellphone provider. Chances are they won't budge
Carpe diem quam minimum credula postero!

bmw1990Z
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Postby bmw1990Z » Fri Apr 27, 2012 4:48 pm

Thats not true, if you are an established member with excellent payment history, they won't want to loose your business. Be adamant that you are going to cancel as you see no further use in the card because the annual fee and they will almost certainly offer something to offset it if the company won't outright cancel. You may need to be on the phone for thirty minutes, talk to multiple people and they almost certainly will "toss" you around, but always maintain you will cancel because you don't need a card with a fee. Should Work No problem.
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

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FastSRT8
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Postby FastSRT8 » Fri Apr 27, 2012 5:46 pm

bmw1990Z wrote:Thats not true, if you are an established member with excellent payment history, they won't want to loose your business. Be adamant that you are going to cancel as you see no further use in the card because the annual fee and they will almost certainly offer something to offset it if the company won't outright cancel. You may need to be on the phone for thirty minutes, talk to multiple people and they almost certainly will "toss" you around, but always maintain you will cancel because you don't need a card with a fee. Should Work No problem.


BMW, problem is.. if you really want to keep the card, this is a bad bluff to make because IF they call you on it and say "ok, cut up your card cuz we are going to close your account", then you lose!

I for one will not take this chance on a card I want to keep.
Carpe diem quam minimum credula postero!



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