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Posted in Credit Cards
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Question By
Catsissie

7 Contributions
43 People Helped
Can you ask a credit card issuer to drop an annual fee?
I've had this card for ten years, it's the lowest-interest card I have, which is the big reason to keep it, and there is a 1% cash back reward. The fee is $29. I've never missed a payment, even had it paid off a few times. Since the interest is decent for someone with not lots of income, I'm glad to have great credit, but every little bit helps. Thoughts?

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Top Contributor
1884 Contributions
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You can ask!

You can ask, but it's not likely.  But I wouldn't close it until you have replaced it with twice the credit on new cards.

It sounds like you have good credit, It should be fairly easy to apply for a new credit card with no annual fee.  In fact it is my experience that you never neeed to pay an annual fee,  there are plenty of cards available that do not charge a fee. 

What I would do is secure a no fee/0% interest card. if you can get the same limit on the new card that would be to your advantage. A balance transfer should do the trick.  Then Call the original card issuer. they will see that you have transfered your balance away and may be more willing to drop the fee.to keep your business. if they refuse to budge, then consider closing the account. 

Closing an account is never a good thing to do, So  consider the ramifications before acting on a threat. 

Good Luck!

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