How I Cut My Amex Platinum Annual Fee in Half (Simple Hack)
00:00:00.000 | There's another thing that happened recently, and I get lots of listener
00:00:02.760 | questions about it, and that is how to avoid annual fees.
00:00:05.840 | My favorite option happened this year when I got my $695 Amex platinum annual fee.
00:00:11.980 | I pop open the live chat on the Amex site.
00:00:14.240 | I said, Hey, I noticed my annual fee has just posted and it just feels
00:00:18.280 | high relative to all the benefits.
00:00:20.040 | I asked if there were any way to get it reduced at all.
00:00:22.680 | Took a little bit of back and forth.
00:00:24.280 | The agent is always saying, Hey, let me tell you about this.
00:00:26.980 | Have you heard about this benefit?
00:00:28.040 | Have you heard about this benefit?
00:00:29.120 | And ultimately you get an offer.
00:00:30.840 | This year, my offer was 25,000 points.
00:00:33.560 | If I can put $3,000 on the card in the next three months, that's over nine
00:00:37.840 | points per dollar, so that's worth at least $400 to me, and so I said, yes,
00:00:42.460 | I moved on and I'm going to cut my annual fee down by more than 50%.
00:00:46.520 | It took less than five minutes and I was able to do it on live chat.
00:00:50.240 | So I was also able to get some work done at the same time.
00:00:52.600 | Highly recommend anyone with a high annual fee on a card.
00:00:56.080 | You'd like to keep just going and asking.