How I Waived The Amex Platinum Annual Fee
- September 19, 2019
- 4 min read
- 8504 reads
So you may be wondering, is it possible to waive the $550 annual fee to Amex Platinum? The card does come with quite a lot of perks and in many ways, at least in the very first year really does appear to pay for itself. So this may leave many people wondering if it’s actually even possible to get the high annual fee for their premium charge card that includes complimentarily concierge service totally waived.
In today’s article we discuss the strategies people are using to do just that; getting the Amex Platinum Annual Fee of $550, totally and completely waived. There are three main brackets you can fall into when getting the fee waived, so we suggest finding your appropriate section, and reading more about it!
Disclaimer: advice in this post is based on the assumption that you are somebody who obeys moral, ethical, and legal standards. In no way does the advice shared here give you permission to exploit the generosity of American Express; and conversely breaking this warning will possibly infringe upon American Express’s terms of service furthermore leading to repercussions during the initial sign up process, or at a later time during your active membership that can be negatively impactful to your credit score and relationship with American Express overall.
The Everyday People Method
The truth about American Express is this has been a business that really has kept in touch with what is valuable to customers, and that’s two words. “great service”. Anytime I’ve personally used my American Express card or called up to have a discussion regarding any benefit, perk, or issue I needed further consulting on, I’m never felt like I’ve been greeted by someone who hasn’t been properly trained.
The reception is top-notch, and the person on the other line is always very precise with their communication, without being condescending at all. This is debatably the reason why American Express is the only major financial institution that still can be competitive with a charge card, in a world obsessed with credit cards.
When you’ve decided that an American Express Platinum charge card is right for you, as crazy as this sounds, as a courtesy first-year users can sometimes call up and explain their position to see if American Express will actually waive the $550 fee for them.
Mind you, this is not a “sure fire/bullet proof strategy” to getting the annual fee; this is hope- and hope is not a strategy. But some people I know personally, as well as people online have made solid cases with American Express and happened to catch a supervisor on a great day.
A simple call in, humanizing yourself and introducing yourself, explaining a few key things that make you sound like a great longterm investment, maybe all the persuading you need.
An example to grasp this is calling in and saying “Hey let me introduce myself, my name is John Smith, I recently signed up for Amex Platinum and had a few questions, that’s the reason for today’s call, could you help me? Great, so I have a job that pays X amount of money and has been my reliable source of income for the last X amount of years, my credit score and utilization rates are perfect, and on average I spend X amount of dollars on my credit cards every month before paying them off in full… ”
If you see where this example is going, it now becomes infinitely easier to simply pivot that into, “as a new member I realize there is a $550 annual fee, but I’m just curious if this, like many other premium cards on the market, is something you would be willing to waive for me during my first year of business together?”
If you give the person on the other end of the line a good enough reason why, before or after your sign up, chances are they will be willing to assist you by contacting a manager who could indeed waive the $550 a year sign up fee.
And just like that, you are a proud new member of American Express Platinum without paying for the first years annual fee.
The Business Owner Method
The method for getting this waived as a business owner is quite similar to the approach taken for an everyday person.
The beauty of the business owner method is this does not have to be a one-time courtesy like you would typically receive if you’re an average consumer. If you’re a business owner and do a lot of business with American Express, you do have a little bit of leverage because American Express charges merchants processing fees.
Overall you can still call in with a similar script, mentioning how you spend X amount of money with American Express a month, are they willing to waive the annual fee just to see what happens!
The Method for Active Military Members (100% Works)
Something a lot of people aren’t actually aware of is that American Express offers a tremendous benefit to active-duty servicemembers. On top of their great benefits, you can typically get from Amex Platinum (you can read more here), Amex Platinum also waives the annual fee as part of the Servicemembers Civil Relief Act (SCRA).
The quickest way to have the fee waived is to call the number on the back of your card and explain to your concierge that you are an active duty member. The annual fee will be waived until you are no longer an active service member. You may have to provide proof of service because of all the benefits you do receive overall.
The benefits of American Express Platinum really make this card worth it in a lot of ways and is most likely the reason why a charge card has remained as a comfortable power player throughout the American market. While we don’t believe in taking advantage of others or other businesses in any way, we do believe that if you possess good enough communication skills and a thorough understanding of American Express’s interest, a bigger win-win can be reached between consumer and business.