One Easy Trick To Get Your Credit Card Fees Waived
Those who have had some troubles with credit cards will be the first to call them evil, to call the credit card companies greedy, heartless scoundrels who care only about one thing: profit.
Well, some may beg to differ.
According to Len Penzo, credit card companies aren’t evil, and neither are profits. Ultimately, aren’t we all trying to make a profit?
Penzo shares one simple trick for getting credit card fees waived in this article.
Despite what you may have heard, the credit card companies’ best customers are not actually those who endlessly exceed their credit limit and only make the minimum payment each month on large balances while their interest continues to soar.
No, their best customers are financially responsible people who pay off their balance in full every month.
While the credit card companies won’t make any interest from their best customers, they’re still receiving a steady income through merchant transaction fees.
Len Penzo is in the latter group of customers.
So, when Mr. Penzo found himself with interest charges to his account which was paid one day late, he simply asked his credit card company to waive the fees.
The deal was done. Why wouldn’t the credit card company waive the fees for one of their best customers?
Well-managed organisations know that their best customers are worth more to them than the interest from one late payment.
However, if you’re making late payments more than once a year, it will likely take a lot more than merely asking for the interest fees to be waived.
And it makes sense; credit card companies are in business to make money, after all.