Well, I finally received my new credit card with a fee. The existence of which does hurt. Yes, I saw the alluring sign-up bonus and thought of easy money, but now I understand that the annual fee is what counts. Luckily enough, the most important thing is that it can be easily waived if I follow some simple recommendations.
First of all, all I have to do is just give a call to the number at the back side of the card and ask about the waiver of the fee. Though it sounds pretty obvious, it works effectively since customer support specialists possess such a right in order to keep you as their client. When asking for the waiver of the fee, I will have to make sure to be polite, but firm in my position. I should say that I am a student and that it is somewhat hard for me to pay the fee now.
Certainly, they can refuse my request and tell that the fee waiver is not possible. In this case, it will be necessary to insist on my rights. First of all, I can ask for the conversation with a retention specialist or supervisor who possesses more authority. Secondly, I can say that I am considering other credit cards such as Discover it Student card which does not have any fee.
Also, they can suggest me the spending waiver in which case I should spend some particular amount within several months. Though it may be effective, I will have to make sure of my possibilities to repay everything each month and not to get involved into additional payments of interest. This is something that I definitely want to avoid.
If it is impossible to waive the fee somehow, it will be reasonable to degrade my credit card to a cheaper version which does not have an annual fee.
The thing is that banks get money from merchants due to using the credit card and that is why they are really interested in me being their client. Therefore, it is absolutely reasonable to ask for the fee waiver without any fear of rejection. Of course, there are plenty of other banks to work with.