Negotiate With Your Credit Card Company To Avoid Unwanted Fees
With the tremendous competition for cardholders in today’s credit card market, card companies are going to the mat to acquire new members – and to keep current ones. They often offer a slew of perks, from cash-back to free travel insurance – but many still come with fees that consumers prefer not to pay. One such charge is the annual fee, which many cards still include in the fine print of your card contract.
Annual fees can range from several hundred dollars to over a thousand for those tailored to high-end spenders. As a consumer, you’re essentially being asked to pay annually in order to maintain your account and any associated benefits. However, with more cards now advertising a no annual fee option, consumers are empowered to avoid this charge through a simple exercise: asking.
If you like the card company you’re with, but simply want to stop paying an annual fee, call the customer service line and ask to have it canceled. Often, it can help to note how many years your account has been in good standing in order to capitalize on your loyalty to the card company. If the customer service representative says they are unable to cancel your annual fee, you may want to ask to speak to a manager. If you’re feeling bold, you can even threaten to cancel your account – you just may be rewarded if the company is interested in keeping your business.
Image via Flickr/williedejarnette