Any recent success on Select fee reduction/waiver at renewal?

[wafliron]

Has anyone had any recent success getting the annual fee on a Select card reduced or waived at renewal?

Mine is due in a couple of weeks so I called them today to try the old "I want to cancel because the fee is too high" routine. Complete fail. They didn't even offer me some bonus points to keep it - all I got was an offer to downgrade to Signature with the annual fee waived for the next 12 months.

 

[ckbag]

The sad thing is the annual fees in asia for a card similar to this would cost 1/3 the price....

 

[burmans]

Has anyone had any recent success getting the annual fee on a Select card reduced or waived at renewal?

Mine is due in a couple of weeks so I called them today to try the old "I want to cancel because the fee is too high" routine. Complete fail. They didn't even offer me some bonus points to keep it - all I got was an offer to downgrade to Signature with the annual fee waived for the next 12 months.

Thats not such a bad deal if in a few months you can get the sign on bonus again!

 

[wafliron]

Thats not such a bad deal if in a few months you can get the sign on bonus again!

I don't think I could (is meant to be for new-to-bank, not new-to-card), but even if I could, I'd still be behind - would miss out on more points than the bonus by only having Signature instead of Select for the 6 months gap

 

[perthtraveller]

I think you're already aware but I got my first year waived with all subsequent years at 50% off. This was after numerous calls trying to get to the right person. Be persistent as you can get some great deals!

 

[wafliron]

I think you're already aware but I got my first year waived with all subsequent years at 50% off.

Aye, I am, but thanks for the reminder. The two reasons I posted anyway was that I was:

- looking for a more recent experience as yours was about 6 months back, IIRC, and my experience with Citi is that their policies on this sorta stuff can change with the wind direction), and,
- again, IIRC, you had more bargaining power than me - don't get me wrong, I've put a lot of money through this card overt he past 12 months, but I specifically don't want them to look at the detail of it because so much of it has been tax.

This was after numerous calls trying to get to the right person. Be persistent as you can get some great deals!

Thanks - I will certainly try again before the renewal is due. I can't recall - was your strategy to just play agent-roulette until someone said yes? Or was your persistence to get through to someone high enough in the food chain that they could consider / grant your fee waiver and discount?

 

[perthtraveller]

I negotiated my arrangement with someone like a customer relationship supervisor only recently in December.

 

[wafliron]

I negotiated my arrangement with someone like a customer relationship supervisor only recently in December.

Righto, my bad. Did you just keep playing agent roulette to get through to them?

 

[perthtraveller]

Righto, my bad. Did you just keep playing agent roulette to get through to them?

Simply asked for the manager of whoever I was speaking to if I wasn't happy with their offer. Probably the 3rd person up in the chain? That person eventually had to speak to "management" and called me back with their offer. I probably asked one more time for extra, she had to revert back to management and then I was happy.

 

[wafliron]

Simply asked for the manager of whoever I was speaking to if I wasn't happy with their offer. Probably the 3rd person up in the chain? That person eventually had to speak to "management" and called me back with their offer. I probably asked one more time for extra, she had to revert back to management and then I was happy.

OK - thanks for the info. Not sure I want to push it quite that far (for reasons outlined above), but I might try one level above the first retention CSR anyway.

 

[uio]

Just got the next years fee waived. First CSR I spoke to offered it up fairly quickly. I noted that there were a number of benefits of the card which were available when I signed up but have now been removed or proven difficult to redeem e.g. one free night hotel stay, free bottle of wine (Perth), Qantas Price Match Guarantee (apparently will no longer be offered).

In response I was offered the waiver, or more accurately, a refund on the charge once it hits my account in April/May.

 

[cove]

We have a QF and a Citi Rewards card with partner cards and they work pretty well with the total cost of $1449. The points earn/redemptions have been the best of our Visa/MasterCards so we are not thinking the product needs rebating.
We worked to get the credit limits up to good levels and I have stopped calling them other than to transfer Citi Rewards from that warehouse.
Sure you could open a term deposit to gain a better deal from Citi but so far we have just let it ride.
Our recent bookings in First Class and Suites are certainly value for money when using these points.

 

[scheps]

i wonder how much you have to spend to get it waived totally. Do you think it will be more likely if already citigold but then they might say your fee is already halved etc etc and amex is a going down the drain so you have not much choice .

 

[cove]

We have passed a magic number in each of our accounts and that did not produce a special offer.
I don't think I need a reduction as it is a very fair bargain for us.
On the other hand with a big 4 Bank who offer half a true point a dollar on Visa I do want their annual fee at a lower number.

 

[wafliron]

Just got the next years fee waived. First CSR I spoke to offered it up fairly quickly. I noted that there were a number of benefits of the card which were available when I signed up but have now been removed or proven difficult to redeem e.g. one free night hotel stay, free bottle of wine (Perth), Qantas Price Match Guarantee (apparently will no longer be offered).

In response I was offered the waiver, or more accurately, a refund on the charge once it hits my account in April/May.

Thanks for the datapoint - sounds like I'll have to try again.

Did the very first CSR you spoke to (from normal service team) offer the waiver? Or first CSR from the retention team? Did you say you wanted to cancel, or were thinking of cancelling, or something else?

 

[scheps]

Oh what i meant was would you need a spend of minimum say 200k/year for them to waive? I didn't think they would offer on their own initiative once you cross a particular number.

 

[wafliron]

Oh what i meant was would you need a spend of minimum say 200k/year for them to waive? I didn't think they would offer on their own initiative once you cross a particular number.

I doubt anyone is going to be able to specifically answer your question, but no doubt annual spend would be a factor. Possibly other things too, relating to your "value" as a customer - other accounts / products you hold with Citi, length of time you've been a customer, maybe even profitability for them (if they're that sophisticated).

 

[The Rok]

I would imagine people who pay the card in full each month and accrue no interest or cash withdrawal charges are the least likely to get a fee waiver, however there are more than likely a few others here who don't fit my suggested profile who have had fee waivers.

God only knows how a bank calculates a customer risk or profitability profile.

 

[Speedbird001]

Same here. Failed. Think the card is pretty cough so transferring to Amex Platinum Card (also cough when you try to use the 'benefits' in practice) but at least I'll get the 80,000 sign-up points.

Has anyone had any recent success getting the annual fee on a Select card reduced or waived at renewal?

Mine is due in a couple of weeks so I called them today to try the old "I want to cancel because the fee is too high" routine. Complete fail. They didn't even offer me some bonus points to keep it - all I got was an offer to downgrade to Signature with the annual fee waived for the next 12 months.

 

[wafliron]

Same here. Failed. Think the card is pretty cough so transferring to Amex Platinum Card (also cough when you try to use the 'benefits' in practice) but at least I'll get the 80,000 sign-up points.

That's the first time I've ever heard the Select card called cough!! We must have different priorities re cards.

Thanks for sharing the data point.