Tips On Getting Annual Fee Reversal

[shadowrun]

Pahirapan na ngayon magpa reverse sa Citibank. I posted this on another thread pero post ko na din dito.

For the past 3 years nagbabayad palagi ako ng annual fee. This time naisipan ko na ipa-waive na lang kasi palagi ko naman sya ginagamit at nagbabayad ako on-time. Gusto ko ipa waive without using my points kahit pede nila gamitin yun. Gusto ko kasi ipunin ang points para ipang redeem.

And guess what? Ayaw nila i waive ang annual fee. Matigas talaga so pina-cut ko na lang. Another problem is nung pina cut ko, nag antay pa ako ng 4 days bago ako tawagan ng closure officer nila. Yep meron pa sila ganito, yung closure officer ang gagawa ng sales talk sayo para ma convince ka na wag ipa cut.

Good thing meron na ako bago credit card.

[msaber69]

mura lang naman ang annual fees ah, bakit kelangan pa ipawaive? kakuripotan naman yun, heheh

[glacier05]

really? naghihigpit na *** ang citibank? i've never had a problem with them before, basta tawag lang ako to ask for waiver and na-grant naman agad. tama yung previous posters, first you request waiver, kung ayaw then threaten to cancel. ganun din lagi ginagawa ko. hehe.

as for hsbc, nung first year ko, i took them up on their compromise na mag-spend ako ng 5k on the next month para ma-waive yung annual fee. pero last year, di na ako nagpaloko, sabi ko, waive niyo or else papa-cancel ko. ayun, pumayag din. kelangan pa takutin.

bakit kamo panloloko ang tingin ko dun? (yung spend a minimum 5000 next month to get a waiver) kasi over the past year, magkano ba ginastos ko? more than 5k per month ang billing ko over the past years. ano pang kelangan ko i-prove sa kanila?

@msaber,

tama ka, kakuriputan nga yun pero sayang din yung annual fee na yun, 1200-2500 din yun ,depende sa card mo. e over the year na ginamit mo siya, magkano kinita nung cc company sayo? 6-7% yung fee na nakukuha nila everytime na gamitin mo yan. kung revolver pa yung holder, e di mas malaki pa kinita nila.

also, kung maliit na yung amount na yun para sa isang cc user, what more sa isang international cc issuing bank? barya lang sa kanila yung amount na yun so what's the harm in just waiving it for a loyal customer? diba. =)

[onyxguapo]

...over the year na ginamit mo siya, magkano kinita nung cc company sayo? 6-7% yung fee na nakukuha nila everytime na gamitin mo yan.

Just curious. Sa bangko/card issuer ba napupunta yung 6-7% fee? Ang alam ko kasi sa cc company mismo (i.e. VISA or MasterCard) napupunta yon as fee for using their payment facility. I don't know how much ang sa bangko mismo, baka nga sa annual fees and finance charges lang sila kumikita. But I'm not sure.

[catherine ann]

mura lang naman ang annual fees ah, bakit kelangan pa ipawaive? kakuripotan naman yun, heheh

mura ba ang 3,600.00 annual fee?

[glacier05]

Just curious. Sa bangko/card issuer ba napupunta yung 6-7% fee? Ang alam ko kasi sa cc company mismo (i.e. VISA or MasterCard) napupunta yon as fee for using their payment facility. I don't know how much ang sa bangko mismo, baka nga sa annual fees and finance charges lang sila kumikita. But I'm not sure.

hmm.. good point. di ko rin alam, actually. pero i doubt na papayag sila na sa annual fees and finance charge lang kumikita. baka naman dun sa 6-7% na yun, may percentage din sila?

anyone working for cc issuing banks? info naman po. =)

[froshie1]

sa bank napupunta ang 6-7% fee.

[msaber69]

mura ba ang 3,600.00 annual fee?

mura yun kung icompute mo monthly. why do you have to pay 3.6k? meron naman 1k lang

[froshie1]

mura yun kung icompute mo monthly. why do you have to pay 3.6k? meron naman 1k lang

ibang tao kasi like me hindi nagtatapon ng 1k or 1.2k. iba iba lang tayo. like ako iyong 1.2k mapapabayad ko na iyon sa bill ko sa water. baket pa ako gagastos kung makukuha ko ito sa reversal ng CC ko.

[shadowrun]

Actually kumikita na ang banko pag ginagamit mo ang credit card. Napupunta sa kanila ang 6-7%. Kaya nga ang ibang merchant pag gumamit ka ng cc e merong surcharge na 6-7% kasi instead na sila ang mag-shoulder ng bayad ikaw na lang.

Kung lagi mo ginagamit ang cc i compare mo naman sa annual fee. San ba sila kikita ng mas malaki?

Kelangan pa ba sila maging matigas sa pag waive? Ipa-cut mo na lang kung ayaw.

[msaber69]

hehe ako din gusto ko ipawaive kaso sa dami ng bonus points at freebies binibigay nila sa akin, nakakahiya naman. I'm referring to Citibank.

[shadowrun]

hehe ako din gusto ko ipawaive kaso sa dami ng bonus points at freebies binibigay nila sa akin, nakakahiya naman. I'm referring to Citibank.

Ang tanong is kung igagrant ka ba ng waiver. Tsaka baket ka mahihiya? Walang debt of gratitude pag dating sa business, part lang yan ng perks nila. As long as nagbabayad ka masaya sila, pero pag hindi na, hindi sila mahihiyang tawagan ka para iremind sayo na may utang ka. Yung mga collectors nila hindi rin nahihiyang mangharass.

[msaber69]

their system just grants me a refund of the annual fee, pero to ask them of a waiver? I use my rewards points, hehe

[majghicctm]

for bdo shopmore cards, yung P75 pwedeng ma-waive if naka-spend ka ng at least 3k every month. so kung every month ma-meet mo yun, pwede kang magpa-waive every month. granted yun agad normally.

sa bdo basta nameet yung required spending gingrant naman yung request. may mga alternate din silang pwedeng gamitin like yung points sa SMAC and rewards points.

[onyxguapo]

Actually kumikita na ang banko pag ginagamit mo ang credit card. Napupunta sa kanila ang 6-7%. Kaya nga ang ibang merchant pag gumamit ka ng cc e merong surcharge na 6-7% kasi instead na sila ang mag-shoulder ng bayad ikaw na lang.

In a documentary about credit cards I watched in studio 23, a bank manager said that they hate cardholders who pay their bills in full because they don't earn anything from them. Given that, I don't think sa bank napupunta ang 6-7% fee for credit card transactions. Kung may nakukuha man sila, maybe it's only a fraction of it. I read an article before which said that many merchants "prefer" MasterCard because the fee for MasterCard transactions is only 3-4% whereas VISA charges a fee of 6-7%, and AmEx charges even more. These fees are imposed by the credit card companies (i.e. MasterCard Wordwide, VISA International, Amercan Express). I think the bank only collects the fees and then pays the card company. Kung may porsyento silang nakukuha, that I wouldn't know.

Just my two cents.

[glacier05]

In a documentary about credit cards I watched in studio 23, a bank manager said that they hate cardholders who pay their bills in full because they don't earn anything from them.

lol, then that must mean that hsbc REALLY hates me as i always pay in full and always, i pay on the due date, never before. (unless weekend mag-fall yung due date)

and if this is the case, i'm surprised that they agreed to waive my annual fee last may 2008. i wonder if they'll be willing to waive it again this coming may.

[n7610]

lol, then that must mean that hsbc REALLY hates me as i always pay in full and always, i pay on the due date, never before. (unless weekend mag-fall yung due date)

yeah. that is true.

[shadowrun]

a bank manager said that they hate cardholders who pay their bills in full

That's the irony of it, sa CI kelangan maganda record mo para ma approve.

[onyxguapo]

That's the irony of it, sa CI kelangan maganda record mo para ma approve.

That is correct. But then I think having a good credit record doesn't necessitate paying your bills in full. Kahit minimum lang ang ibayad mo, basta laging on-time, it's still considered good credit. The only time that you will get a bad record is when your payments are delayed or when you fail to pay at least the minimum.

[p@r@k]

In a documentary about credit cards I watched in studio 23, a bank manager said that they hate cardholders who pay their bills in full because they don't earn anything from them.

Ah kaya pala Citibank phoned me last month and said that they have a promo that entitles a CC holder with good credit standing a minimum of 16k cash na pwedeng ideposit sa bank account mo right away. But the thing is may 1.5% interest siya

Wala kasi silang makuhang finance charge sa akin kasi I always pay in full kaya dinaan sa promo baka sakali hehe