Qantas American Express Ultimate Card - got annual feee waived

[kort]

After ringing up Amex with the intention to cancel my Qantas American Express Ultimate Card (Annual fee $450/year + "complimentary" flight), Amex pleasently suprised me by telling me they will waive the fee if I stayed. I said yes - rather chuffed actually

Conversion went something like this.
Me: I wish to cancel my Amex card
Amex: Ok, my I ask why you wish to cancel your card?
Me: Whilst I like the card, I think the $450 Annual Fee is pretty expensive
Amex: Ok, I will talk to my supervisor and see what we can do to encourage you to stay. Do you have any other credit cards you use?
Me: Thanks for that, I also have a xx_ and YYY Credit Cards
Amex: Ok, give me a moment and I will get back to you
(wait 1 minute)
Amex: Ok we will waive the annual fee if you decide to stay
Me: If thats the case, then I would be delighted to stay
Amex: No problems. That will take 5-7 days to process
Me: thanks very much

I guess that means my compliementary flight for the next year really is free

 

[MrJetset]

It's called a "Save cancel" and is common to the financial, telco and many other industries when you threaten to stop giving them your business.

 

[kort]

Interesting - still its nice to know that I am worth keeping
Plus saving $450 on an annual fee is great!

 

[dede]

It happened to me last year on the Qantas Amwx Premium card - very nice!

 

[Dyslexic traveler]

That's great to know I wonder if they will do that with my centurion card it would be nice to not have to pay for a year but I have no complains the Amex card has saved me more than the $4500 a year but I will give it a go next year and see if it works.:mrgreen:

 

[ozbeachbabe]

It's called a "Save cancel" and is common to the financial, telco and many other industries when you threaten to stop giving them your business.

One has to be careful with how they "threaten" though. Better to say something like:

"I'd like to cancel my card please" & when they say why mention that "I already have another cc with XYZ company that has no annual fee".

That sounds more favourable than "if you don't waive my annual fee I'll take my business elsewhere" which is more aggressive. :idea:

 

[Must...Fly!]

That sounds more favourable than "if you don't waive my annual fee I'll take my business elsewhere" which is more aggressive. :idea:

It's a cut throat world out there!! :shock:

 

[kort]

I agree - I don't think threats are really going to help -I reckon I was pretty nice and casual about it. I am guessing threats would only work if you were putting squillions on the card every year - I can tell you I am not even close to putting that much on the card!

Plus threatening them just makes you sound like a w-@nker

 

[winfred]

I just paid the balance off my amex plat cc, transferred all the points to asia miles and was going to cancel the card as I can't justify paying the annual fees for the free flight that I only used 2 out of the past 3 years.

Now I will give them a call and see if they will waive my fee. It is still delaying the inevitable as I will cancel the card the following year if I get the next year free.

 

[anchew]

I've heard that all you have to do is ask if you're eligible for your annual fees to be waived. It depends on how much you spend so there's no need to threaten to leave. If you don't meet the criteria, then you can't get your fees waived, even if you threaten to leave - or so I heard.

I just got mine (50,000 QFF points was too good to miss) so will do that next year and see if it works - then cancel if they say no even if they give it to me after. I really hate companies that only give you benefits if you indicate that you're going to leave rather than loyalty. Also, $450 is a lot for a credit card.

 

[holdenvxman]

I got mine waived on the same card last year, going to try my luck this year again

 

[kort]

I've heard that all you have to do is ask if you're eligible for your annual fees to be waived. It depends on how much you spend so there's no need to threaten to leave. If you don't meet the criteria, then you can't get your fees waived, even if you threaten to leave - or so I heard.

Yup, nothing wrong with asking! On the point of "how much you spend", I wonder what Amex defines this as. For instance:

• If the user puts $100,000 on the card per year, will they waive the annual fee?
• If the user puts between $50,000 - $99,999, will they only offer a discount off the annual fee?
• If the user puts under $50,000, will they say "tough luck"?

who knows really....

Also I was prepared to leave as I was just going to be a supplementary on my wife's Ultimate card (she signed up for the 50,000 points - for $450 that pretty decent I guess). No point in both of us paying a $450 fee!

I really hate companies that only give you benefits if you indicate that you're going to leave rather than loyalty. Also, $450 is a lot for a credit card.

I am guessing Amex assume most people couldn't be bothered ringing up to cancel the fee - people can be pretty lazy ;-)

 

[ozbeachbabe]

I am guessing Amex assume most people couldn't be bothered ringing up to cancel the fee - people can be pretty lazy ;-)

For $450.00 I would be making the effort!

Oz

 

[kort]

For $450.00 I would be making the effort!

Oz

Exactly why I did it!!
the worst they can say is no

 

[opusman]

I just did this, with complete success

 

[edman]

Interesting, as I was of the opinion from other threads that those cards with the free flights had little luck in getting their fees waived.

My Platinum credit card is due soon and its fee is $295 (professional association) compared to $450 on the ultimate, which should rate as a good chance I would hope.

I guess its no different to them discounting their merchant charges in their rush to sign up more merchants, or to stop them from surcharging.

 

[codash1099]

I've just got the basic Qantas Amex credit card at no fee based on my Rewards Advantage charge card. My brother, who spends considerably less than I do and has a plain old Amex green charge card has the Premium Qantas Amex card at no fee.

I had cause to ring them recently and the CSA had to transfer me because I was rated as an "ultra high value card member" and I queried whether I could upgrade but keep the "no fee'" bit. After referring to a supervisor, the answer was "we don't have any offers available at the moment".

Lesson: there is no logic to the system.

 

[kort]

Interesting, as I was of the opinion from other threads that those cards with the free flights had little luck in getting their fees waived.

I guess it depends on how much you put on your cards - Having said that I would hardly call myself a "heavy user", although having just returned from an overseas trip, my card activity has increased dramatically over the past 2-3 months.

 

[opusman]

When I called to cancel, they did make reference to how much I usually put on the card (approx $100k/yr) so clearly this is taken into account when deciding whether to waive the fees or not.

To be honest I don't really want the card any more as I have an Amex through ANZ that is fine for my purposes, but it means a free flight so it seemed silly to turn it down. Of course it means I have to go through this whole process again next year..

 

[edman]

When I called to cancel, they did make reference to how much I usually put on the card (approx $100k/yr) so clearly this is taken into account when deciding whether to waive the fees or not.

I'm doing around $180k a year, so based on your experience it seems promising although nothings a given with Amex. I might hit them up to give a decent rate on Amex as a merchant too while I'm there, its a different department but if they consider me a high value client (presuming I get the fee waived) then that may bode well for me on the merchant front too.

Even at $100k spend and say a 2% average merchant fee, it makes sense to waive the card fee and still earn the $2k in fees from expenditure, rather than risk someone leaving. I'm just glad they have extended this line of thinking to the free flight cards.