So my bill was due around Christmastime, and with all the fuss and hubub I was a day late paying it. I got slapped with a $13.32 finance charge, which isn't a huge amount of money, but what kind of Fool would I be not to challenge it. I called AMEX today, and explained that the holidays were hectic, and I've been a good cardmember. 'No problem,' said Matt, my friendly AMEX representative, and removed the charge from my account. yesssssssssssssssssssssssssss
I had a large bill (7grand) that I paid off in full in August and I told the lady I was a long term customer and that I would like some charges knocked off. She said she could knock off 170 bucks in finance charges! Awesome, I said.Amex was my first charge card in college and I've held onto it through thick and thin, partly because you could pay on the phone without a charge and the one other (now closed-I think it was Chase?) card I had required you to pay 20-30 bucks to make a simple payment over the phone.
As I learned last month with Chase Card and a similar situation. Never hurts to ask.. and sometimes more than once. Saved me a late fee and months interest for my error ( and being less than 2 hours late in paying )
'No problem,' said Matt, my friendly AMEX representative, and removed the charge from my account. I'm as big an AmEx fan as anyone. We use one of our two SkyMiles AmEx's for all household and business travel purposes. Over the years, I've had numerous situations where AmEx reps were "considerate," "friendly," or "unexpectedly nice." They've literally waived hundreds of dollars in fees and charges.But let's be realistic about why AmEx can do this. They make money hand over fist. AmEx's merchant rates have traditionally hovered at 4% while MC/Visa were at 2%. The gap has narrowed recently, but AmEx still makes (and merchants thus lose) 25-50% more on every dollar spent than MC/Visa.Plus, AmEx's interest rate for regular monthly spending is rarely as low as you can find for other cards.No wonder AmEx can play nice guy while other banks' margins are lower. They've built a heck of a brand.ETR
I think it works with other CCs as well. Someone told me that the CS Reps on the phone are not allowed to suggest taking it off, you have to ASK. Just FYI. Don't just call and say, wow I was only a day late, say "I was only a day late, would you be able to take off the late fee?"Maybe I'll try: "Would you just take away my balance?" while I'm at it.
I do still ask places if they take it but most do. More than used to. When they don't I just use my debit card, so it's really no big deal.
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