How to get a credit card fee waived

Written by admin on December 26, 2009 – 2:27 am

Late credit card payments are a good reason for credit card companies to charge additional fees on a credit card account. In fact, some people get charged late fees even when they pay on the last day their credit card bill is due. Or, some credit card companies increase their late fees and move the due dates earlier in the month without notice so that clients are more likely to be charged a late fee. However, late payments can adversely affect credit score, cause a huge increase in credit card interest rate or significantly increase the credit card balance. Therefore, to avoid all these unfavorable consequences, and enhance the possibility of having a credit card fee waived, there are some important factors that need to be considered.

Having an account in good standing

First of all, a credit card account should be in good standing. This means that people who pay their credit cards on time and above the minimum, have good chances to waive a late fee. Typically, credit card companies waive late fees once a year provided that the customer manages their credit responsibly. Besides, there are cases of customers who are aware that their payments will be arriving late. In such cases, they need to give the credit card company a call and advise them accordingly so that they show they are credible customers and don’t just delay payments.

Using one credit card

Credit card companies are not willing to waive a late fee on a credit card that doesn’t have too many charges on. Many people use many different credit cards and they expect credit card companies to waive their late fees. Instead of using many cards, it is better to use one because the credit card company will consider the customer as a client, who makes transactions, pays monthly installments on time, is credible and therefore on an annual amount of $20,000 it makes sense to waive a fee.

Changing the due date

Another way to get a credit card fee waived it to change the due date. Many customers are not aware of this option and credit card companies do not advertise this option for obvious reasons. However, customers have the right to change the due date and adjust payment schedule based on the dates they get their paychecks. It is perhaps the simplest and most effective way to show credibility, avoid late payments and to keep a credit card account in good standing because not only payments will be on time, but they will be within the first week of the due period.

Setting up an automatic payment

Another option is to setup an automatic payment. Although many people dislike the idea of a bank having access to their bank account, still automatic payment is an effective way to pay on time. Automatic payments deduct the proper amount from the account and eliminate the possibility of being late in payments. On the other hand though, there are cases that the amount charged is wrong and the customer cannot know until after it is charged. Even worse, automatic payments are an open door for identity theft. Experienced hackers can find their way to anyone’s account through automatic payments, so this is an option that needs a lot of consideration.

Overall, these are some considerations that can save get a credit card company to waive an annual fee. For some people they work, for others they don’t. In any case, the most important thing is to keep the account in good standing. Otherwise, the credit card company won’t even bother to look into details and credit score will be at stake.

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