Credit Card Fee / myLot

Hong Kong

May 30, 2022 1:22am CST

I have two credit cards. I never pay for using them. A couple of days ago, I received a statement from the bank, charging me an annual fee for one of the cards. I called their hotline, telling them that if I need to pay, I want to cancel the card. The staff then told me to continue using it, they would waive the annual fee. I find this practice quite weird. Why bill the customer in the first place? Do you need to pay an annual fee for your credit card?

21 people like this

20 responses

The Horse

@TheHorse (238317)

• Walnut Creek, California

30 May 22

I do not. And I get cash back on everything I buy. I rarely pay with cash. I think they just want to make money, and will charge people until they are asked about it.

3 people like this

Ruby Hawk

@RubyHawk (99367)

• Atlanta, Georgia

31 May 22

I get cash back too.

Nocturnal Writer

@Nakitakona (59987)

• Philippines

30 May 22

That's where the dirty trick those banks are doing. Unlike a debit card there is a service charge if it falls below the minimum balance.

2 people like this

Juliaacv

@Juliaacv (56257)

• Canada

2 Jun 22

You must have agreed to those terms when you took out the credit card. I wouldn't have the nerve to call and expect the annual fees to be waived, I would try to find another credit card that does not have an annual fee.

1 person likes this

M Cheung

@Beestring (15372)

• Hong Kong

2 Jun 22

Actually, I called them to cancel the card but they offered to waive the fee.

1 person likes this

Anindita Sengupta

@aninditasen (18198)

• Raurkela, India

30 May 22

In India too having a credit card is troublesome so I didn't accept a credit card from my bank. Moreover I don't need one.

2 people like this

Manuela Lopes

@nela13 (59365)

• Portugal

31 May 22

I gave up of my credit card, I don't need it and end up paying annual fees to have it. Now I have a Pre paid card that I use when I travel.

1 person likes this

M Cheung

@Beestring (15372)

• Hong Kong

31 May 22

Yes, if you don't need it, why pay for it. Good decision.

1 person likes this

@dgobucks226 (37621)

•

4 Jun 22

Most credit card companies have no annual fee. You can always find one that offers that service. You did the right thing by challenging them.

1 person likes this

Heather Echola

@GardenGerty (169479)

• United States

30 May 22

I refuse to use credit cards that have annual fees.

1 person likes this

Judy Story

@jstory07 (148734)

• Roseburg, Oregon

30 May 22

I have never paid an annual fee and I will not pay an annual fee. I would cancel the credit card.

1 person likes this

Shiva

@Shiva49 (28385)

• Singapore

30 May 22

They think you may overlook it! I cancelled one of the cards as my travel is on hold and I do not need it anymore.

1 person likes this

Ruby Hawk

@RubyHawk (99367)

• Atlanta, Georgia

31 May 22

No I don’t pay a fee but some credit cards do charge a fee. I’ve wondered why anyone would use a card that charges a fee.

1 person likes this

Thelma

@thelme55 (79324)

• Germany

30 May 22

We cancelled our credit cards as we were no longer using it during the pandemic. We don’t need it anymore.

1 person likes this

Sharon Elton

@sharonelton (30756)

• Lichfield, England

30 May 22

I don't have a credit card, I only have a debit card and I don't pay a fee for it.

1 person likes this

Anne

@Hytton03 (5449)

• Philippines

30 May 22

Oh happy that they wave of the annual fee.

1 person likes this

Jhana

@solidcodes (1798)

• Philippines

30 May 22

Credit Cards is not good if you use the money not helping to grow your finances.

1 person likes this

youless

@youless (114117)

• Guangzhou, China

30 May 22

Some credit cards need the annual fee. But usually if you can consume your credit card six times within a year, then you don't have to pay for the annual fee. This is quite easy and this is why I haven't paid for the annual fee.

1 person likes this

Shavkat

@Shavkat (141905)

• Philippines

30 May 22

I am sorry to say that I never had a credit card.

M Cheung

@Beestring (15372)

• Hong Kong

30 May 22

No problem at all not using a credit card.

Shavkat

@Shavkat (141905)

• Philippines

30 May 22

@Beestring Indeed.

OceanTiara

@RebeccasFarm (91297)

• United States

6 Jun 22

I do not no fees for my cards

Anna

@LadyDuck (502491)

• Italy

30 May 22

I pay no annual fees for my credit cards.

1 person likes this

Mrki Krki

@mrki444 (15162)

• Croatia (Hrvatska)

30 May 22

Not annual but every month, no matter do I use it or not. It is called fee for maintaince.

1 person likes this

Arunima Singh

@arunima25 (93194)

• Bangalore, India

30 May 22

We have an Imperia account with our bank. That means that we are the privileged customers of the bank. And we don't need to pay fees for any of their services.

1 person likes this