credit card annual fee waiver
A successful request to have a credit card's annual fee waived — most issuers will waive once per year upon request.
Example
“A five-minute call requesting an annual fee waiver saved her $95 on a card she wanted to keep.”
Memory Tip
CALL and ASK — most issuers waive the fee once a year. The worst they can say is no.
Why It Matters
Annual fees can cost $95 to $550 or more per year, so knowing you can request a waiver helps you keep premium credit cards without paying unnecessary charges. This skill directly saves you money and makes it easier to maintain cards with valuable rewards and benefits.
Common Misconception
Many people believe that credit card annual fees are non-negotiable and set in stone, but issuers routinely waive them for customers who simply ask. Others think you need to threaten to close the account or switch banks, when in reality a polite single request each year often works.
In Practice
A cardholder with a premium travel rewards card paying a $95 annual fee calls their issuer in month 11 and requests a waiver. The representative approves it immediately, saving the customer $95 that year while keeping all the card benefits like travel credits and lounge access intact.
Etymology
Modern credit card negotiation practice — calling and asking for the fee to be waived.
Common Misspellings
Check your credit score free — no impact
Related Terms
More in credit
Other credit terms you should know
See Also
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