American Express offers a variety of personal and business credit cards with annual fees ranging from $0 to $695. While cards with annual fees often come with a range of benefits to justify the cost, there are times when you may want to avoid paying the fee. Here are four ways you can potentially get your Amex membership fee waived:
- Request a waiver or retention offer: One way to avoid paying the annual fee is to directly ask American Express for a waiver. You can do this over the phone or through online chat. It’s best to make this request within 30 days of being charged the fee. American Express may agree to waive the fee, offer a credit or reduction, or provide a retention offer, such as bonus points or cash back.
- Cancel or product change to a different card: If you’re unable to get the fee waived, you can consider canceling the card or changing to a different card with a lower or no annual fee. Make sure to be in good standing with American Express and have had your account open for at least a year before making any changes.
- Apply for the financial relief program: American Express offers a financial relief program for cardmembers experiencing financial hardship. You can apply online for this program, which may provide temporary relief from late payment fees, reduce monthly minimum payments, and offer lower interest rates.
- Apply for a waiver as a member of the military: Active members of the military and their spouses may be eligible for relief under the Servicemembers Civil Relief Act (SCRA) or the Military Lending Act (MLA). You can apply for relief by providing supporting documents showing your active duty status.
If you’re unable to get the annual fee waived, it’s important to assess whether the card’s benefits justify the cost. Some American Express cards offer significant value through perks like statement credits, airport lounge access, and elite hotel status. Ultimately, it’s worth paying the annual fee if you make use of these benefits.
In conclusion, while American Express credit cards with annual fees come with valuable perks, there are ways to potentially get the fee waived if needed. By exploring these options and assessing the card’s benefits, you can make an informed decision on whether to continue paying the annual fee.