Some credit cards come with fees, especially if they offer a sweet rewards program. If your card has an annual fee, it's worth calling the carrier to see if they'll waive it.
Million Mile Secrets says that many banks will waive the annual fee if it's the first year you've had the card. They suggest simply calling and asking—politely, of course. In some cases, they might not waive the fee, but they could offer a statement credit or bonus points. They report:
some folks have been offered 5,000 AMEX Membership Rewards points and another 15,000 points after they spend $3,000 within 3 months in exchange for keeping the AMEX Premier Rewards Gold. The annual fee on this card is $175 and 20,000 points are worth at least $200. So this bonus makes it more than worth keeping the card!
Quite a few commenters confirmed they had luck with this—but they had to threaten to cancel. Of course, there are ways to do this without sounding, well, threatening. You might say you're just considering it, because the fee is higher than you'd like.
Of course, you could actually cancel the card, and some people do. They reap the credit card rewards and then cancel before the fee kicks in. It's one option, but it will also affect your credit utilization, which affects your credit score.
It might not work for everyone, but it doesn't take much to ask. Check out the full post for more detail.
How to Get Your Annual Fee Waived | Million Mile Secrets
Photo by Wonderlane.
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