Having good credit means you can save a lot of money in interest costs. Unfortunately, lenders sometimes find other ways to get into your pocket. As a result, you have to be vigilant and manage the fees that you pay.

Waive Goodbye

Some credit card companies charge an annual fee just for the right to use their card. They also make a small percentage each time you purchase something on credit. Even if you pay your balances in full each month and avoid finance charges, you can still be a profitable customer. Therefore, there's no reason that you should have to pay annual fees. If you have halfway-decent credit, you need a really good reason to pay annual fees.

Remember that it costs at least twice as much to get a new customer than it does to keep an old one. Once credit card companies have a foot in the door with you, they have an incentive to keep you around. This means that you have some bargaining power, and you can walk away if you want. You should exercise this power, and ask your credit card company to waive any unreasonable fees that they charge you. Sometimes, you only have to call once, and they will waive your annual fees indefinitely.

If the company is unwilling to completely waive the fees, they may cover half of the cost or offer you something else. Therefore, it never hurts to call them and ask. You might not get exactly what you asked for, but you may get something else to sweeten the deal. You should ask them what it takes to get an annual fee waived — are there specific criteria that you need to meet as a customer?

Everybody Makes Mistakes

Some fees act as penalties. The credit card company may smack you with a fee if you send your payment in late. Likewise, you may be assessed a fee if you charge more than your maximum allowable credit limit. Just like your annual fees, you may be able to get these fees waived. If you are a good customer and you don't often make the same mistake, then you have a decent chance of getting these fees reversed. Call your credit card issuer, state your case, and ask that the fee be reversed.