Credit Card companies reducing annual fees due to Covid-19 ?

[baldman]

Afternoon all. Just paid annual fee last month for my amex plat charge card and with all the travel restrictions in place, can't see how I'll get anything like the usual value out of it. I'm thinking of ringing and asking for a partial $$$ credit to my account.

Anybody have any knowledge of their likely attitude towards my request ? I'm a member of many, many years good standing.

 

[ethernet]

Nope, but do it, unless you ask you don't get. I wonder how many AFF'ers paid for yearly travel insurance?
Also think about suspending your private health insurance for a few months, esp as electives cancelled.
Variable housing loan? Paying more than 2.6%? Switch.

BTW as a matter of principle, hassle your CC card provider 22% indeed! No fee or I leave!

 

[Mattg]

I have heard of instances of banks waiving credit card annual fees for those who are suddenly unemployed due to COVID-19. If you're in this situation, it can't hurt to ask.

 

[Daver6]

See this post and my subsequent ones on this matter. Looks like there might be some relief in sight. Amex "I'm going to cancel my card" - bonus points given thread.

 

[TheRealTMA]

yes I was wondering that this week. Our Amex Platinum card is very expensive and with no travel for airfares or hotels etc, all the travel credits and memberships are useless. I planned on calling them in the next couple of days. Unfortunately Amex do not seem to have contact via email.

 

[Daver6]

yes I was wondering that this week. Our Amex Platinum card is very expensive and with no travel for airfares or hotels etc, all the travel credits and memberships are useless. I planned on calling them in the next couple of days. Unfortunately Amex do not seem to have contact via email.

When I spoke to Amex, there were pretty open to extending the validity of the travel vouchers. About the only concession I initially got.

Calling and entering my Plat charge details, I've been able to get through very quickly. Suggest giving them a call and adding to the voices of discontent.

 

[ethernet]

So far the aussie banks have been giving nothing away. A mortgage holiday just piles up juicy compound interest. Ditching penalty fees is hardly generous because if the client goes to debt relief, these are undone. And with everyone staying home, cars in driveways etc, Insurance companies are not discounting premiums either. Credit card fees do not reflect the risk for sound risks. My CC fees are waived anyway, and I am careful not to let banks slash me for one lousy day, when a public holiday moved the repayment date. Presently paying 3% variable for a housing loan when 2.6% is so far about the cheapest. Negotiate hard.