Will credit card company waive annual fee?
Guest: bullet875
Post subject: Will credit card company waive annual fee?
Posted: Thu Mar 09, 2006 9:12 pm
if you tell them that you are going to cancel their card? I found a Chase hotel co-branded card that I would use once or twice a year for travel that is free the first year and costs $29 yearly after that. do you thinkthey would waive the fee if I threatento cancel the card before the fee kicks in?
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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Mar 09, 2006 9:43 pm
bullet875 wrote:
if you tell them that you are going to cancel their card? I found a Chase hotel co-branded card that I would use once or twice a year for travel that is free the first year and costs $29 yearly after that. do you thinkthey would waive the fee if I threatento cancel the card before the fee kicks in?
Usually not
The "FEE" is so they can run the PROGRAM
A "FEE" for no rewards card is easier to get waived (in many cases)
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Guest: maddybeagle
Credit Expert (100+ Posts)
Posted: Fri Mar 10, 2006 8:31 am
If they wont waive the fee, you can probably change the card to another program that has no fee. It doesnt sound like you use this anyway. Dont close it. Also, note that chase will not transfer rewards balances, though.
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Guest: bullet875
Posted: Fri Mar 10, 2006 10:44 am
but I was deciding whether I wanted to apply or not. I think I'll skip it. I was just trying to decide as we have one of their hotels in our town and I was hoping to get free night s to use to get away from my kids...lol, but I would only stay in their hotels 4 to 5 nights a year....probably not long enough to reap rewards for a $29 fee.
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Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Mar 10, 2006 11:18 am
The card is free for the first year. So get it, and 11 months after call and say you're thinking of cancelling the card. You'll be transferred to the retention department and be asked if you're serious about cancelling the card. (Make sure you owe nothing on the card at this moment, by the way.) Be sure to say yes, and then the negotiations begin. I think you're very likely to get the annual fee waived at this point if you request that--and you could even get more (a lower interest rate, a balance transfer offer).
And if not, you've had use of that card for 11 months for no fee and wasted one phone call. Not a big deal either way.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Will credit card company waive annual fee?
Posted: Thu Mar 09, 2006 9:12 pm
if you tell them that you are going to cancel their card? I found a Chase hotel co-branded card that I would use once or twice a year for travel that is free the first year and costs $29 yearly after that. do you thinkthey would waive the fee if I threatento cancel the card before the fee kicks in?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Mar 09, 2006 9:43 pm
bullet875 wrote:
if you tell them that you are going to cancel their card? I found a Chase hotel co-branded card that I would use once or twice a year for travel that is free the first year and costs $29 yearly after that. do you thinkthey would waive the fee if I threatento cancel the card before the fee kicks in?
Usually not
The "FEE" is so they can run the PROGRAM
A "FEE" for no rewards card is easier to get waived (in many cases)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: maddybeagle
Credit Expert (100+ Posts)
Posted: Fri Mar 10, 2006 8:31 am
If they wont waive the fee, you can probably change the card to another program that has no fee. It doesnt sound like you use this anyway. Dont close it. Also, note that chase will not transfer rewards balances, though.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullet875
Posted: Fri Mar 10, 2006 10:44 am
but I was deciding whether I wanted to apply or not. I think I'll skip it. I was just trying to decide as we have one of their hotels in our town and I was hoping to get free night s to use to get away from my kids...lol, but I would only stay in their hotels 4 to 5 nights a year....probably not long enough to reap rewards for a $29 fee.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Mar 10, 2006 11:18 am
The card is free for the first year. So get it, and 11 months after call and say you're thinking of cancelling the card. You'll be transferred to the retention department and be asked if you're serious about cancelling the card. (Make sure you owe nothing on the card at this moment, by the way.) Be sure to say yes, and then the negotiations begin. I think you're very likely to get the annual fee waived at this point if you request that--and you could even get more (a lower interest rate, a balance transfer offer).
And if not, you've had use of that card for 11 months for no fee and wasted one phone call. Not a big deal either way.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 6:01 PM
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