Mistakes happen to everyone and when you are on a stick budget a $20 fee feels like a big blow. Luckily you can get your credit card fees waived if you rarely miss a payment. First, to prevent this from occurring again use this as a catalyst to start automatic bill payment.
Being able to have your fees waived is another perk of paying on time. Companies are more wiling to work with customers who have a long history of making payments on time.
Calling in can be intimidating. But don’t let it be – there isn’t a chance the fee will be removed if you do nothing and a pretty good chance it will if you call in. Lenders want to keep doing business with you – it is much more expensive to acquire a customer than to maintain a customer. So if you have a reasonable request most lenders will be willing to help you out.
When calling to have your credit card fees waived go through the following key points.
Build your own script around these key points – use your own words, building a connection with the agent
- Pay your full balance – wait until it has posted
- Call your credit provider with all your information at hand
- Explain your situation
- Confirm they have received the full balance
- Ask if this will be reported to the credit bureau
- Ask if there is any way to remove the fee from your account
- Explain why you are a valued customer. You are a long time customer, you have never missed a payment, your balance is paid in full, etc.
- Explain the impact. You are buying a home and can’t afford a lower credit score, you have heard that many other lenders will waive fees, you want to remain a loyal customer, etc.
- If you aren’t able to make progress ask to speak to a supervisor and due so politely and firmly.
- When your fee is waived gratefully thank the person you are talking to.
Remember you are asking for help – keep this phrasing in mind:
Is there anyway you can help me?
Is there anything you can do to erase this charge?
Three things to remember when calling a lender to waive your credit card fee
- Position your request as an ask for help
- Mention all of your positive attributes: on time payments, balance paid in full, long history, high credit score, etc.
- Be polite through the entire conversation