Is your credit card fee cancelled ?
Generally a fee of $20 to $100 or more than that may be charged by the credit card companies, depending upon the type of card and personal back ground. Cards with high risk ,exceptionally low interest rates and business cards attract annual fee charged by the companies. These categories need to pay annual fee for the services rendered by credit card companies. Charging of annual fee can not be realized until it is charged in the statement, until the it is forgotten by the card holders.
Still there is a way for this too!. Sales persons of companies openly do not promote this kind of information but customer services department of the companies have the power to waive off various finance fee including annual fee. The matter can be directly taken up with customer representative over phone with a request to waive off the fee. But, it is unlikely that they oblige your request instantly. In that case, you are left with two options based on your outstanding.
Card holders may not that the sole aim of credit card companies is making money operating the business. The more number of credit card users, the more money they make. One of the revenue generation source being interest rate on the outstanding, card providers do not forego customers easily.
Now, exploit the situation in case your balance is nil or low explaining that you are unhappy with annual fee and would like to cancel the card and close the account. Being polite during the discussion will certainly impact on the other side and increase the chances of getting help. Your assertiveness on the point of closing account for a minor cause of annual fee will not permit them go forego a valued customer when they have a grand scheme of offers. Result is that annual fee is cancelled instantly on your card. This is possible for the card holders with minimum outstanding.
Whereas, a different approach has to be formulated for the card holders with large outstanding balance. Make an assertive call to a supervisor or Accountant and explain that you are happy with the card and services but it is painful to pay annual fee and would like to transfer the whole outstanding to a different credit card. Since you have noticed paying annual fee is unnecessary, you would like to opt for balance transfer.
It is more likely that your request is obliged and annual fee is cancelled because your outstanding is the biggest source for revenue generation for the card provider. In general, companies do not lose customers for want of meager annual fee charged on the card when compared to the fetching interest rate on the outstanding dues.
It is unlikely if a representative allows you to close the account or transfer balance. In such context, you better close the conversation that you are busy now and would revert back with an option, after taking the full information. Even though, you do not necessarily need to close the account but make an attempt to make them realize. Meanwhile, search for different type of companies offering cards and finally consider for permanently changing the card provider.
More information and facts on the subject of no annal fee credit cards or apr credit card
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