I've talked before about how little fees can add up to some big money. Yahoo Finance agrees and offers a solution: complain when you're charged extra fees. Here's what they suggest:
Be proactive and prepared to complain, politely. The average griper gets a refund about half the time, Sullivan says, and credit card companies are most likely to cave -- about half of consumers are successful. Just one in five consumers got fees waived from cell phone providers and hotels; banks and grocery stores were least likely to cough up cash.
The keys to me:
1. Be polite.
2. Be at least somewhat in the right (if you did send in your payment late for the third time, don't expect the fee to be waived again.)
3. Use the "power of going elsewhere" if you don't get any satisfaction. (Often telling them you're going to do this will get you a positive response.)
To be more proactive and take this a step farther, ask for a discount up front.
How timely! Just last week I phoned my credit card company to complain about a $39 late fee. I had paid my card online, on time (for the west coast), however the eastern time was 12:05am and I was socked for a late fee. My first attempt to request a courtesy refund of the fee met with no luck. I have never been late with a payment so I figured they would just grant my request without any problems. I was shocked and a few days later I had decided to give it one more try and if I was not satisified I would make sure they knew I would take my business to another card. It still took more than 10 minutes of "discussion" until I was creditied the fee and had I not continued to insist that I would take my business to another card I doubt they would have refunded the fee.
Posted by: Keith | February 22, 2008 at 11:59 AM
That's too bad, Keith that your card was not more accomodating. I don't ever pay late fees or their associated finance charges. I have paid a day or two late occassionally and get whapped with the feel. I call and explain that I want the fee removed. It's never been a problem. That said, I spend a lot of money on my card (yes too much, but I still manage to live within my means just not save as much), so they get their fees in other ways. My card is with Citibank, but I'm not stumping for them, as I've had luck with Chase and others over the years.
Posted by: Anon | February 22, 2008 at 07:33 PM
My family took a vacation last year and had terrible service on one of the flights. I sent an email to their customer service and got two coupons for $100 off my next flight, so that was nice.
Posted by: Odnal | February 24, 2008 at 04:33 PM