A 50% waive in my BPI annual fee
April 28, 2009
After two months of emailing BPI (see first post), it has finally given me a 50-percent waive of the annual fee of my BPI World Perks. This is quite significant as this means P1,250 savings on my part. Yes, the annual fee of BPI World Perks is P2,500, which is why I was hell-bent on getting the waive.
Here’s the email I received from BPI E-mail Banking Team.
Greetings from BPI Express Online!
We apologize for the delay in our reply. We have your request re-evaluated and we are pleased to inform you that 50% of the annual membership fee was already reversed. You may confirm this by checking on your next statement of account.
If you need further assistance or have other concerns, you may send us an e-mail at expressonline@bpi.com.ph.
Thank you for choosing to bank with us online!
The BPI E-mailbanking Team
Thank you for all who commented and gave their support and tips on how to waive the annual fee. May this experience be helpful to everyone who’s wanting to get a waive for their credit card annual fee.
As a final note, I know that many think that credit card holders are not entitled to any waive of annual fee and that the waive is merely a favor given by credit card companies. I do respect your views but I also believe that credit card holders have the right to demand for a waive. After all, credit card companies charge an average of 3.5% interest every month and the waive is but a small amount from their coffers.
Pinay and Money advocates taking charge of our personal finance and this includes saving money where it can. If this means, demanding the credit card company for a waive, then by all means, do so.
Entry Filed under: Banking, credit card, money tips. Tags: annual fee, bpi, BPI E-mailbanking Team, Pinay and Money, waive.
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1. Eugene | May 4, 2009 at 5:02 am
Worldperks is closing (NWA was merged into Delta) – what will happen with the card ?
2. pinayandmoney | May 6, 2009 at 3:54 pm
good question, eugene. i’ll ask about that. currently, northwest and delta’s merge didn’t affect the card. when the merge was announced, if i remember it correctly, i received an email from worldperks telling account holders that the miles wouldn’t be affected and they would still be honored. but i’ll ask around with the point you raised.
3. labs | May 9, 2009 at 6:10 am
I’ve never had any problems having my annual fee for HSBC’s mabuhay mastercard waived.
Same goes for Citibank cashback card. Though I’ve heard stories from other citibank credit card holders that no matter how long they’ve been with citi, how large their charges are, how often their cards are being used, citibank won’t adjust any of their annual fees.
4. pinayandmoney | May 9, 2009 at 7:17 pm
hi, labs! nice to see you here. =D yup, you’re correct. we tried requesting citibank to waive my husband’s citibank-shell card. and even though he spent close to 500K last year (for his mom’s hospitalization bills), citibank still didn’t waive the annual fee. its reason is that hindi daw puwede iwaive ang tie-up credit cards. go figure.
5. Free Personal Finance Blog | May 18, 2009 at 4:43 pm
Hi! That happened with me and my SHell Citibank card as well. THey are hesitant to waive tie up cards because they incur costs as well. I think they pay part of the rebates you get for purchasing shell products, that’s why they don’t easily waive the annual fee. However, the manager from citibank was quick to offer me a different citibank card, one with only reward points. With this one, they have always agreed to have it waived. (Siguro 4 years na). I think the same goes for BPI-Petron, usually they will only agree for a 50% reversal of annual fee but not 100% especially if you have been able to avail of the rebates through gas purchases. Get an ordinary credit card and for sure, your annual fee will be waived. Specially if you have a good record. Just remember to ask politely as well. If they don’t agree, you can always get a new one with a first year annual fee waive.
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6. Diane | May 31, 2009 at 11:05 am
I’ll share mine…3 years ago til now I am not paying annual fee – BPI, HSBC,BANKARD and MEtrobank Femme.
Was able to pay them on time , reason why cant they resist my annual fee reversal.
7. pinayandmoney | May 31, 2009 at 12:23 pm
good for you, diane! i pay my credit card bills in full and on time and this wasn’t enough for BPI to waive myannual fee.
8. AndrewBoldman | June 5, 2009 at 6:01 am
Hi, good post. I have been wondering about this issue,so thanks for posting.
9. Diane | June 14, 2009 at 9:50 am
try to convince them sis. mentioned that you have a friend that pay in full and annual fee is waived in full too! sayang pa din yung ibabayad mo di ba?
10. GarykPatton | June 16, 2009 at 5:25 pm
You know so many interesting infomation. You might be very wise. I like such people. Don’t top writing.