NEVER EVER pay credit card late fees

On May 3, 2012 by Andy Bandy Man

Andy 1, credit card company 0

Whenever I get hit with an unexpected charge, I ALWAYS call the company to fight it. 95% of the time I get my money back – am I weird for always fighting these charges? Well, if you are like me and don’t particularly like getting robbed of $20-$30 by some big company that is probably ripping you off somehow anyways, here are some examples of when you should fight for your money back:

  • Credit Card Late Fees: As you know, you should never carry a balance on your credit card. If you’ve been dutifully paying your credit card fees and you get hit with a $25 late fee because you forgot to pay, definitely call them. All you have to say is: “Hi, my name is _________. I have been a loyal customer for _______ months, and I swore I paid by credit card bill online this month, but somehow looks like I missed it. Can you remove the charge for me this time?”   They will “think” for 30 seconds, or “ask their supervisor,” and then remove the charge. If they don’t, ask to have a word with their supervisor and ask again.
  • Bank Overdraft Fees: If this happens, you MUST call them and ask them to remove the $20 or $30 fee. And here’s where you can play hardball – threaten to move banks if they don’t budge, because many competitors (like Charles Schwab High Yield Investor Checking) provide automatic Overdraft Protection so you don’t have to worry about stupid fees like this.
  • Cable Bill Late Fees: Same drill here – except this is the cable company so you can be mean to them and threaten them to move cable companies, etc. etc. etc.

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