Waiving Annual Fee on Citi, specifically Prestige Card

[Anonymous]

I've been a long time forum searcher, but this is my first post. I have been contemplating applying for the Citi Prestige World Elite Mastercard, but the hefty annual fee has kept me from pulling the trigger. The fee is $450, but I've read that applying in branch I can get it for $350 (still substantial). And yeah, if I subtract the $250 travel credit then its only really a net $100 annual fee, but still, I'm not a fan of paying annual fees for credit cards, even if they are "premium" or "elite" ones. I've done some researching and read that people get their annual fee waived every 11 months by asking and/or threatening to cancel, but haven't seen anything specific to the prestige card. My main concern is that since its a bigger fee they are less likely to waive it. But by a similar logic, people with the card are important to the bank and so the retention department would want to keep higher spending cliental, especially with customer acquisition cost being so high. So, have any of you had experience getting the annual fee with the Citi Prestige waived? How about for other like caliber cards (Ritz, Amex Platinum, etc)?

Regards, 

AG 

[bch238]

I would be really surprised if Citi waived the fee.  Consider, if a brand new customer asked for a waiver, how important is that new customer anyway?  They are giving away a substantial value of a benefits ($250 air credit, lounge access, at least $300 worth of TY points, etc.) and they need to make a profit, or at worst break even.  I think credit card companies understand that a new customer asking for a fee waiver more likely than not is going to be an ex-customer (or the user of a downgraded, no- or low-fee card) a year from now.  What is in it for them? 

[-Cal-]

gotta pay the cost to be the boss.

[Anonymous]

There are plenty of solid cards out there that don't have an AF. If you want the benefits of that particular card, be willing to pay for it or be prepared to push a substantial amount of charges through that card to make retaining you at net (-$395) worthwhile. Not everyone is entitled to special benefits. If you want to be treated like a VIP, you better be profitable enough to earn that status.

[Anonymous]

---

@-Cal- wrote:

gotta pay the cost to be the boss.

---

A real boss say no to costs.

[kdm31091]

I don't see them waiving that large of a fee, honestly. Even if they did, by some miracle, they would only do it once I am quite sure. If you want the benefits of the card, that's what they cost. If it didn't require an annual fee, it wouldn't have one. You can't just get it waived because you don't feel like paying it.

Threatening to cancel can work, from what I read, but not for a card like this -- for something lesser maybe. If you have this card and say you want to cancel due to the AF, they will likely say "Ok, I'm sorry to hear that", or at most give you a credit for a portion of it. There's an annual fee to justify the benefits, not just because. If you aren't feeling like the AF will be justified for you even before getting the card, you shouldn't get it -- you will continue to feel that way and be disappointed if/when they don't waive it.

Some people get AF waived on lower AF cards e.g. $95 or something (again, for one year, not permanently), but $450? even $350? Not going to happen. I'm sorry.

[Anonymous]

---

@kdm31091 wrote:

I don't see them waiving that large of a fee, honestly. Even if they did, by some miracle, they would only do it once I am quite sure. If you want the benefits of the card, that's what they cost. If it didn't require an annual fee, it wouldn't have one. You can't just get it waived because you don't feel like paying it.

Threatening to cancel can work, from what I read, but not for a card like this -- for something lesser maybe. If you have this card and say you want to cancel due to the AF, they will likely say "Ok, I'm sorry to hear that", or at most give you a credit for a portion of it. There's an annual fee to justify the benefits, not just because. If you aren't feeling like the AF will be justified for you even before getting the card, you shouldn't get it -- you will continue to feel that way and be disappointed if/when they don't waive it.

Some people get AF waived on lower AF cards e.g. $95 or something (again, for one year, not permanently), but $450? even $350? Not going to happen. I'm sorry.

---

One size fits all?

[kdm31091]

In this case, for this card, I would say yes, one size fits all. I could be wrong, but I just cannot see them waiving that large of a fee just because you don't want to pay it. Again, an AF is charged because of benefits, so if they were going to waive it for whoever asked, it wouldn't make any sense.

A smaller AF can be and often is waived in a gesture of goodwill to the customer. Such as $49 or $95. I don't see $450 as something they will just eat because you do not want to pay it. Just my opinion.

[Anonymous]

---

@kdm31091 wrote:

In this case, for this card, I would say yes, one size fits all. I could be wrong, but I just cannot see them waiving that large of a fee just because you don't want to pay it. Again, an AF is charged because of benefits, so if they were going to waive it for whoever asked, it wouldn't make any sense.

A smaller AF can be and often is waived in a gesture of goodwill to the customer. Such as $49 or $95. I don't see $450 as something they will just eat because you do not want to pay it. Just my opinion.

---

I'd take points in lieu of a statement credit for AF.

If you can get something more for less, Why wouldn't you?

[kdm31091]

I agree with that -- if you can get something for less you should. I just don't think this is a case where they are gonna do it. I wouldn't want to disappoint OP and tell them "oh yeah, they'll waive $450 no problem"