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Waive for Annual Fees, Credit Card
TSDurianlife
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Sep 3 2019, 12:24 PM, updated 5y ago
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New Member
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Hi all Financial Sifus,
I have a situation where the bank charge me RM 550 for the annual fee. The criteria to waive is to spend at least RM 30 k per annum. I didn't meet the criteria due to the fraud case i had last year. Therefore my spending is less. I tried to appeal few times but rejected. To be honest, i can easily achieve it if there is no fraud case. I also admit that i overlooked that i should have cancelled the credit card before the end of the year. I'm trying to see if anyone here have the similar experience. I have reached OFS Ombudsman for Financial Services, but it seems that it's not within their scope. Please advice.
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MeToo
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Sep 3 2019, 12:31 PM
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Annual Fee is charged at the beginning of the period.
If you cancel the card, the AL will be refunded to you on pro rata basis, so you can cancel now and get back almost everything.
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TSDurianlife
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Sep 6 2019, 08:05 AM
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New Member
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QUOTE(MeToo @ Sep 3 2019, 12:31 PM) Annual Fee is charged at the beginning of the period. If you cancel the card, the AL will be refunded to you on pro rata basis, so you can cancel now and get back almost everything. Thanks for your advice. But they charged me in the end of the year. Which means the Annual Fee is for last year. In this case, is there any way out?
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Ramjade
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Sep 6 2019, 08:34 AM
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QUOTE(Durianlife @ Sep 3 2019, 12:24 PM) Hi all Financial Sifus, I have a situation where the bank charge me RM 550 for the annual fee. The criteria to waive is to spend at least RM 30 k per annum. I didn't meet the criteria due to the fraud case i had last year. Therefore my spending is less. I tried to appeal few times but rejected. To be honest, i can easily achieve it if there is no fraud case. I also admit that i overlooked that i should have cancelled the credit card before the end of the year. I'm trying to see if anyone here have the similar experience. I have reached OFS Ombudsman for Financial Services, but it seems that it's not within their scope. Please advice. Credit card?
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MeToo
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Sep 6 2019, 10:33 AM
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QUOTE(Durianlife @ Sep 6 2019, 08:05 AM) Thanks for your advice. But they charged me in the end of the year. Which means the Annual Fee is for last year. In this case, is there any way out? Never came across such practice before. Usually first year waived. Start of 2nd year, AL will be charged for the 2nd year.
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Aurora Boreali
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Sep 6 2019, 11:58 AM
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QUOTE(MeToo @ Sep 6 2019, 10:33 AM) Never came across such practice before. Usually first year waived. Start of 2nd year, AL will be charged for the 2nd year. That's right. Annual fee is charged at the start of the credit card anniversary. TS didn't fulfill spending criteria so pay up lah.
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synical
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Sep 6 2019, 01:38 PM
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Depending on how good a paymaster you are, maybe you can call or contact them for waiver?
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WaCKy-Angel
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Sep 6 2019, 02:23 PM
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QUOTE(Durianlife @ Sep 3 2019, 12:24 PM) Hi all Financial Sifus, I have a situation where the bank charge me RM 550 for the annual fee. The criteria to waive is to spend at least RM 30 k per annum. I didn't meet the criteria due to the fraud case i had last year. Therefore my spending is less. I tried to appeal few times but rejected. To be honest, i can easily achieve it if there is no fraud case. I also admit that i overlooked that i should have cancelled the credit card before the end of the year. I'm trying to see if anyone here have the similar experience. I have reached OFS Ombudsman for Financial Services, but it seems that it's not within their scope. Please advice. Simple just pay up and cancel the card. Cause if u can spend 30K/year i guess should not have problem to pay RM550.
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cybpsych
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Sep 6 2019, 02:23 PM
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1) you SIGNED the application form and understood the charges/fees before agreeing
2) you USED the card
3) now you dont want to pay?
unless there is condition to waive AF, everything else is binded to your application agreement, i.e. to pay.
however, can try to call CS to ask beg for waiver.....and..... request is always subjective to approval. remember, there is no b&w condition to waive.
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unknown_2
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Sep 6 2019, 02:45 PM
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QUOTE(Durianlife @ Sep 3 2019, 12:24 PM) Hi all Financial Sifus, I have a situation where the bank charge me RM 550 for the annual fee. The criteria to waive is to spend at least RM 30 k per annum. I didn't meet the criteria due to the fraud case i had last year. Therefore my spending is less. I tried to appeal few times but rejected. To be honest, i can easily achieve it if there is no fraud case. I also admit that i overlooked that i should have cancelled the credit card before the end of the year. I'm trying to see if anyone here have the similar experience. I have reached OFS Ombudsman for Financial Services, but it seems that it's not within their scope. Please advice. call & ask nicely, maybe still can waive.
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TSDurianlife
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Sep 9 2019, 09:12 AM
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New Member
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QUOTE(synical @ Sep 6 2019, 01:38 PM) Depending on how good a paymaster you are, maybe you can call or contact them for waiver? Yup, contacted a couple of times. But failed. Will try again. Thanks.
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TSDurianlife
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Sep 9 2019, 09:13 AM
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New Member
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QUOTE(synical @ Sep 6 2019, 01:38 PM) Depending on how good a paymaster you are, maybe you can call or contact them for waiver? Yup, contacted a couple of times. But failed. Will try again. Thanks.
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TSDurianlife
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Sep 9 2019, 09:14 AM
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New Member
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QUOTE(unknown_2 @ Sep 6 2019, 02:45 PM) call & ask nicely, maybe still can waive. Sure. Will try again.
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TSDurianlife
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Sep 9 2019, 09:15 AM
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New Member
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QUOTE(cybpsych @ Sep 6 2019, 02:23 PM) 1) you SIGNED the application form and understood the charges/fees before agreeing 2) you USED the card 3) now you dont want to pay? unless there is condition to waive AF, everything else is binded to your application agreement, i.e. to pay. however, can try to call CS to ask beg for waiver.....and..... request is always subjective to approval. remember, there is no b&w condition to waive. Yup, I know that, thanks.
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TSDurianlife
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Sep 9 2019, 09:15 AM
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New Member
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QUOTE(synical @ Sep 6 2019, 01:38 PM) Depending on how good a paymaster you are, maybe you can call or contact them for waiver? Sure will, thanks.
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Ramjade
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Sep 9 2019, 09:21 AM
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QUOTE(Durianlife @ Sep 3 2019, 12:24 PM) Hi all Financial Sifus, I have a situation where the bank charge me RM 550 for the annual fee. The criteria to waive is to spend at least RM 30 k per annum. I didn't meet the criteria due to the fraud case i had last year. Therefore my spending is less. I tried to appeal few times but rejected. To be honest, i can easily achieve it if there is no fraud case. I also admit that i overlooked that i should have cancelled the credit card before the end of the year. I'm trying to see if anyone here have the similar experience. I have reached OFS Ombudsman for Financial Services, but it seems that it's not within their scope. Please advice. Credit card?
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niceit198
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Sep 14 2019, 04:19 AM
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New Member
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likely mayxxxx visa signature
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jack2
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Sep 14 2019, 08:23 PM
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Which bank
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SUS2feidei
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Sep 14 2019, 08:27 PM
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Called, tell them waive or cancelled the card.
If they not waive, pay and cancel. Plenty of other card out there
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TSDurianlife
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Sep 18 2019, 10:09 PM
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New Member
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QUOTE(Ramjade @ Sep 9 2019, 09:21 AM) Yes
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