The easiest way of getting your credit card annual fee waived would be to pick a credit card that waives the annual fee during the first year as a promotion, or one with no annual fee at all. Alternatively, you can call the issuer’s retention line, but it is not guaranteed that it will work. Beyond that, you’re unlikely to get your credit card’s annual fee waived unless you’re an active-duty member of the military. Still, it never hurts to ask, even if success is a long shot.… read full answer
Being well-informed about your rights and alternative credit card options definitely will help your chances. And you can find the most important info below.
Here’s how to get a credit card annual fee waived:
If you’re employed full-time by the U.S. military, call your issuer and tell them you’d like your SCRA benefits. Exactly how the process works differs by company, but they will ask you to prove your active military status. For example, you might provide a copy of your active duty orders. Once you send the issuer proof, they should waive your annual fee as well as reduce your interest rate. When applying for a card, there’s sometimes a box you can check to indicate your military status, too.
Call the retention line and ask your card’s issuer to waive or lower its annual fee. Long-time customers and high-spenders with great credit who always pay in full likely have the best chance.
It’s a common credit card promotion to waive the annual fee for the first year your account is open. This will be noted on the offer when you apply, though. It’s not something you have to ask for.
If you really want to avoid fees, get a no annual fee credit card. Hundreds are available, including cards with rewards and 0% APRs. You might be able to get a better deal overall by paying an annual fee for more rewards.
If you’re having difficulty paying your annual fee due to unforeseen financial difficulty, you might be able to apply for a financial relief/ hardship program with the issuer. This way, you could potentially have your annual fee waived. Or you might receive other assistance such as lower monthly payments or lower interest rates.
Since annual fees help pay for the benefits credit cards provide, issuers aren’t eager to waive them. But there’s no penalty for asking. And if you’re in the military, you should definitely take advantage of the waiver you’ve earned with your service.
You can get a Credit One annual fee waived by calling customer service at (877) 825-3242 and requesting a fee waiver, or by enrolling in Credit One’s Credit Protection Program. Through this program, Credit One will waive the annual fee for up to 6 months for involuntarily unemployed or disabled cardholders.… read full answer
Credit One normally doesn’t grant annual fee waivers outside of its Credit Protection Program, but if you call customer service and the representative declines to waive your annual fee, state that you’d like to close the account. They may offer to waive the annual fee to keep you as a customer. You may have to call more than once before you get a representative who’s willing to negotiate, and there’s no guarantee this approach will work.
How to Avoid a Credit One Credit Card Annual Fee Altogether
Credit One does offer cards that could help you avoid paying an annual fee altogether. The Credit One Bank Platinum Rewards Visa with No Annual Fee, true to its name, has a $0 annual fee. And some co-branded Credit One cards may or may not charge an annual fee. It depends on your credit standing, which Credit One determines based on a review of your credit score, payment history and existing debt, along with other criteria.
Note that if you apply for one of the co-branded Credit One cards that don’t have a fixed annual fee, you won’t know how much this fee will be until you’re approved. If you are charged an annual fee, you’re eligible for a full refund if you cancel the card and have not made any transactions on the account.
Wells Fargo credit card fees include the standard array of basic charges and usage costs. Most Wells Fargo credit cards will spare you the annual fee. However, some cards will charge balance transfer fees of 3% intro for 120 days, then up to 5% (min $5); cash advance fees of 5% (min $10), and 3% foreign transaction fees.
Wells Fargo also charges late payment and returned payment/check fees of up to $40. Wells Fargo does not charge application/processing fees, over limit, or monthly fees. You can check Wells Fargo’s list of credit card fees on your statement and in the card’s terms and conditions.… read full answer
Here are the Wells Fargo credit card fees:
Annual fee: Most Wells Fargo credit cards benefit from $0 annual fees.
Balance Transfer: Either 3% intro for 120 days, then up to 5% (min $5) or up to 5% (min $5), depending on the card. The only exceptions are the Wells Fargo Business cards, which have a 4% (min $10) balance transfer fee.
Cash Advance: 5% (min $10). Applies to most Wells Fargo cards. The Wells Fargo Business card, on the other hand, charges a 4% (min $10) cash advance fee.
Foreign Transaction Fee: Either 3% or $0 of all transactions outside of the U.S. or through an internationally based merchant, depending on the card.
Fees are the cost of doing business when you have a Wells Fargo credit card. How much they’ll affect you depends on how you use the card. You can avoid balance transfer and cash advance fees simply by not making those transactions.
Use your Wells Fargo card responsibly, and you’ll not get hit with late payment or returned check fees. Also, make sure you take a look at the best Wells Fargo credit cards and pick one whose rewards suit your spending habits.
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