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How to Get Rid of Your Credit Card’s Annual Fee

How to Get Rid of Your Credit Card’s Annual Fee

credit card fee

Is the annual credit card fee too much for you? The average annual credit card fee is $500. So I can understand why you might be trying so hard to get rid of it. $500 is a decent chunk of change and can be saved or invested in something like stocks.

You can unburden yourself by leaving the thought of paying your credit card’s annual fee behind. Because there are many simple and easy ways to do so.

Here are 3 Easy Ways to Get Rid of Your Credit Card’s Annual Fee:

1) Talk to the Customer Service Executive

This is the simplest way to get rid of your credit card annual fee. Just dial the number at the back of your credit card and talk to the customer care executive. Tell them how you have been a great customer and point the person on the phone to your good credit history. Most credit card companies do provide the benefit of not paying the annual fee to customers who have been loyal to them.

If the customer care executive does not seem to comply with your request, then you can consider negotiation. You can tell them about your other credit cards and the benefits they are providing you. Give the customer care executive no choice other than waiving your annual fee. Keep in mind that you being a loyal customer is the only reason a credit card company would discount your annual fee. So, pay your bills on or before time once they conform to your request.

2) Use Rewards to Pay the Annual Fee

Most credit cards today have a lucrative reward system. They provide reward points after every purchase you make. Want even more reward points? Purchase items listed in the recommendation section. Credit card companies have a tie-up with some brands. This benefits you as you get a discount or reward points on the purchase of a product of that particular brand.

You can collect these points and use them to pay your credit card’s annual fee. This way you not only get rid of your credit card’s annual fee but also build a good credit history. There are many credit card companies that let their customers pay their credit card annual fee in the form of reward points. This creates a healthy relationship between credit card companies and their customers.

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3) Use Cards with No Annual Fee for the First Year

If you’re a first-time credit card user, this is the best way to get rid of your credit card’s annual fee. Maybe you just graduated from college and are looking for a job or doing a part-time job. By getting a credit card that waives the annual fee for the first year, you can save a lot of money and also get the benefits of being a credit card user.


Some people also take another easy way out of the annual credit fee by canceling their credit card altogether. This might be a good option for people who know they are never going to need credit in the future. But how often is this the case? Canceling your credit card can hurt your credit score. Instead, try one of the 3 options that I have provided above.

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