WASHINGTON (NBC News) – A new survey finds American consumers by the millions are getting some of the most burdensome and costly credit card fees reduced or dropped just by asking.
The survey by CreditCards.com found annual fees on credit cards are fading away or disappearing all together.
“A lot of times, getting your annual fee waived may be just as easy as asking for it,” says Matt Schulz. “About 80% of people, who asked to have an annual fee waived or lowered, got it.”
Schulz says another 69 percent who requested a lower interest rate got one, and 87 percent who asked that late fees be waived were also successful.
“The credit card companies are willing to deal and negotiate because it’s such a competitive marketplace,” he explains.