Jun Loayza

Hey Ramit, my card doesn’t have any annual fees; however, my interest rate is relatively high I think. I saw Laura’s comment about getting her interest lowered, so I’m actually going to give Chase a call today and see if I can get my interest lowered as well.

I’ll let you know how it goes.

- Jun

SpeciousRiches

Yes, but be careful. I read in the NY Times last weekend about a woman who called to dispute a charge who ended up having her credit limit reduced as a result of the call. Banks are pulling in their reigns. That’s not a big deal if you don’t carry a balance, but if you do, your debt-to-income ratio could shoot up resulting in a reduction in your credit score. In this environment, you either have impeccable credit or you can’t borrow…

SpeciousRiches
http://speciousriches.wordpress.com

Joseph

I’ve found whenever dealing with financial companies that they’re usually willing to remove any fees or what-not that you’ve incurred. It only takes a phone call.

Thanks for pointing this out Ramit!

Irina

I tried it. AMEX would not wave my $100 annual fee.

Thisson

If you pay an annual fee, it’s time to get a new credit card.

But really, none of us should be using credit cards at all. We should be living within our means, saving, investing, and building some kind of emergency fund so when our cars break down (or whatever), we don’t need to charge it.

Fees are the enemy of those of us seeking financial freedom!

JEANNE

I find it’s a trade off – either you have no fee but high interest rates, or a low rate with some kind of fee. Of course in a perfect world none of us would carry any balance, so the first choice would be the way to go. Still, if you’re looking for both it can be tricky.

I do have one card with Capital One that has a low rate and no fee, but it’s the exception.

S. Brady

At Bank of America, the only way to get an annual fee waived it to close your account. The annual fee is assessed to the card because of the benefits you get with that card. You get more benefits with a card with an annual fee then one that has no fee. So if you don’t want the annual fee don’t have that particular card. There are a lot of cards out there that have no fees.

BThappy

why do you need to be assured pretty girl in pink? what is the worst that could possibly happen? they say no?

make up a talk about how moneys a little tight and you think 170 bucks is a little High, hell i just opened a new credit card and the fee was only 39.99.

pamela from oz

I am a credit card user the Banks hate…in fact they have a name for people like me…but can’t remember it unfortunately, lol.

Just received an offer from American Express for one of their credit cards and it states there is NO annual fee, there are rewards attached and 55 day free of interest. Also if I spend $550 before the end of February they will also send me a lovely wheeled travel bag.

I have taken up the offer but just noticed on line that this card does have an annual fee according to Website. Rang and queried why my letter states NO ANNUAL FEE and yet website says there is one. Response was that I had received a special offer. Most interesting; was not aware they did this. I thought everyone was treated the same; apparently not! The normal annual fee for this particular card…Choices…I think it is called…is $49 a year.

The operator said there will be no fee for the life of the card. I should have asked what exactlyt that meant. Maybe it just means until its expiry date and when the new card is issued I will be asked to pay the $49 fee. That is when I will ditch it, lol.

lilybird99

I just called Amex & they refused to waive $45/year fee. I asked for supervisor, same thing. They offered other cards with zero fee, reminded me that I agreed to pay fee when I signed up for card, & really didn’t care at all that I was planning on taking business elsewhere.

(On a positive note, 15 minutes on the phone with Comcast just now resulted in $257 savings over next 6 months.)