Credit One monthly fee waiver success for 6 months

[money_talks]

Called Credit One and said I was tired of paying monthly fees and that I was considering closing the account. Lady on phone checked what offers were available for my account and she gave me a retention offer for 6 months of no monthly fees. I can cancel anytime during the 6 months.

No need for a supervisor to approve the waiver of fees. My monthly fee is 8.25 so I will take it!!

[missjae]

Nice work! Congrats.

[myjourney]

Congrats 

[money_talks]

Thanks all.

I have 90% util on the card and will gradually pay it down to avoid interest.

On a side note, FP would not budge at all for monthly fee waivers. They are getting the axe next week!

[Credit-hoarder]

If I'm not being too nosey, what starting CL did Cred1 give you and how long have you have the acct.?

[money_talks]

Credit hoarder: I've had Credit One for 1.5 years now.

Opened: 300 CL

Month 2: 400 CL (auto CLI)

Month 12: 650 CL (auto CLI)

[djc1puno]

Congrats!

[SunriseEarth]

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@money_talks wrote:

Called Credit One and said I was tired of paying monthly fees and that I was considering closing the account. Lady on phone checked what offers were available for my account and she gave me a retention offer for 6 months of no monthly fees. I can cancel anytime during the 6 months.

No need for a supervisor to approve the waiver of fees. My monthly fee is 8.25 so I will take it!!

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Congrats!  I think I might do the same.   I still want to close them, but I may as well have extra money go toward my balance.  

[money_talks]

Thanks djc1puno.

SunriseEarth: Thanks. I figured you would be interested. I was going to send you a PM as I recall you made a comment in another thread that you wanted to pay down Credit One and then close it. I am in the same boat and will close Credit One within the next 6 months. I don't know how much my length with Credit One played a part in the waiver. From the way the conversation went with CS, the offer was already available to me. I said "I'm considering closing my account because of the fees. Would you be able to waive them for a couple of months until I decide?" She said "let me see what offers are available, (3-5 seconds), I can give you 6 months waiver of fees".  I would definitely call and ask. Like I said above, I had 90% util in my account (not much of a threat to cancel with a balance I thought) and I said I was considering closing the account and not that I wanted to close the account (which is different IMO). No transfering to any department or supervisor.

FP though is a tough nut to crack. I've tried my chances with different CS personnel and they won't give me a monthly waiver, only an annual waiver next year. Then I got transferred to their cancellation department and same thing. I then spoke to an Accounts supervisor and said no. I asked to speak to the next tier supervisor. They said they would call me in 24-48 hours. Absurd if you ask me, FP won't give a 6.50 credit for one month (after I have given them hundreds of $ in fees, not to mention interest) and instead will let a customer go.

[SunriseEarth]

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@money_talks wrote:

Thanks djc1puno.

SunriseEarth: Thanks. I figured you would be interested. I was going to send you a PM as I recall you made a comment in another thread that you wanted to pay down Credit One and then close it. I am in the same boat and will close Credit One within the next 6 months. I don't know how much my length with Credit One played a part in the waiver. From the way the conversation went with CS, the offer was already available to me. I said "I'm considering closing my account because of the fees. Would you be able to waive them for a couple of months until I decide?" She said "let me see what offers are available, (3-5 seconds), I can give you 6 months waiver of fees".  I would definitely call and ask. Like I said above, I had 90% util in my account (not much of a threat to cancel with a balance I thought) and I said I was considering closing the account and not that I wanted to close the account (which is different IMO). No transfering to any department or supervisor.

.

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Thanks for thinking of me.  Since you inspired me, I just got off the phone and said pretty much what you said.  I said I was considering closing the account once my balance was paid, because I not longer wished to pay the AF and wanted to see if anything could be done about it.   The CSR came back with the 6 month waiver offer and I took it.   I still intend on closing the card, but this offer would give an opportunity for a zero balance to actually be reported.