I’m currently a CBA diamond card holder and used to get the card free with a home loan. now this is no longer the case.
Does anyone have experience of CBA waiving annual fees for long term customers?
I would consider switching as other banks have similar cards but with generous sign up points bonuses.
I’m a CBA diamond card holder and I have home loans with them so I have card fee waived.
But if I’m in your situation I would be happy to leave CBA without hesitation. CBA diamond card is one of the worst on the market. It’s expensive, can only convert to VA, has point cap (although at 1 million points) and doesn’t earn ATO anymore! I’m only keeping the card now because it’s free but I won’t use it. So I’m sure you can ask nicely, if they won’t waive it just cancel it! But there is a danger having it in your wallet, because you might accidentally pull it out and pay for a transaction which you would’ve otherwise earned points in other more valuable currency. So best take out a pair of titanium scissors and shred it to pieces.
I have The same credit card. The only way I know of having it without the annual fee on an ongoing basis is to be part of Commonwealth private bank. You can look up requirements to be part of this on their website. I think when getting it as part of your home loan you effectively have to pay an annual fee through the home loan anyway. This might be called the wealth package.
I’m not a CBA customer, but most banks would much rather keep you than lose you, so if you tell them you intend to leave, and then give them a specific reason why (i.e. annual fee, point earn is rubbish) they will often try and remedy this by waiving or offering bonus points. Using specific keywords like “cancel” may also trigger a transfer to the Retentions department who have more power to make you an offer you can’t refuse.
Worth looking at this article (there are some good tips in there), but there isn’t any mention of CBA in it. Maybe update Keith with your experiences after you call.
Just remember to be reasonable and polite, and be prepared to close the card if they don’t offer you something you’re willing to accept.