Survey finds freedom from credit card fees is often achieved by simply asking

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KANSAS CITY, Mo. -- A national survey found that when credit card holders asked for a lower interest rate or wanted late fees waived, they often got exactly what they wanted.

According to, of the nearly 1,000 creditcard users surveyed (in both English and Spanish and on cell phones and landlines) those who asked for better terms on their credit cards said they were rarely disappointed.

* 87 percent of those who asked had late fees waived
* More than 80 percent had their annual fee either waived or reduced
* 69 percent of those requesting a lower interest rate -- got one.

However, the survey also showed that only 25 percent of cardholders even tried to negotiate with their credit card company. Matt Schultz, senior analyst with, said cardholders have far more power than they realize because card companies really want their business.

Other survey findings:

* Republicans are less likely than Democrats to ask for break from a card company.

* The more you earn, the more willing card companies are to neogtiate with you.

* Couples are granted more help with late fees on average than singles.


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