Saturday, February 10, 2018

Saved the $125 Westpac annual credit card fee just by asking.

Banks don't want to lose your business, so it doesn't hurt to ask the question, "can they wipe the annual credit card fee?" In my case that's a saving of $125 this year simply for making a telephone call.

I call the bank around 4-8 weeks before the annual fee is about to be charged. I am fully prepared for them to say no and I'm happy to close the credit card. The reason is, I have a number of other cards now that can do the same or similar things. For example I have debit cards issued by other banks so could forgo the credit card if I wanted to. Those cards don't cost me anything so it really doesn't make sense to keep paying an annual fee. However, I do like the card as it keeps the transactions I use it for separate.

Be sincere and friendly during the call. They want your business and they're there to help. If it's not worth it to them, that's OK, that's their choice.

Kelvin Eldridge

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