Credit Card Savings

How to Waive BPI Credit Card Annual Fee

Credit Card Savings


I am one of those financial advocates who isn’t allergic to credit cards. In fact, I recommend them, provided that you know how to use them.

You can actually save money, get free stuff or use “free” money when you use credit cards. However, I strongly urge you to waive off that credit card fee. It’s something that you don’t have to pay!

What is a Credit Card Annual Fee?

The annual fee is the amount your bank charge you once a year for using your credit card. They will not tell you that they have charged you for it. You will just notice that your monthly charges is more than you expect it to be. That is, if you are diligent enough to check your monthly statement accounts.

It’s great if the benefits you have reaped that year, if translated to currency, exceed the annual fee; it’s a bummer if not. So, it’s better to try not to pay these credit card fees.

How to Waive Your BPI Credit Card Annual Fee?

Upon checking my due last month, I saw a larger amount than my expected amount to pay. So, I checked my statement and saw the dreaded “Annual Membership Fee”. It’s Php1,500.00 for my blue BPI card. So, I surveyed — the internet, my colleagues, other blogs — on how they were able to waive off that fee. These were how they got away with it.

By calling the BPI hotline — 89-100.

Calling the BPI hotline proves to be a successful method in waiving the annual fee. Some of my officemates told me to do it, but I can’t connect using our office phone and I’m too lazy busy to find an outside line.

Here are tips on how to do it (basing on my research and tips from friends):

  • Tell them that you want to waive your credit card fee because your budget is tight that month.
  • If your request is denied, say your thanks, but try calling again. A different representative will entertain you for sure. If he/she is in a good mood, then you are lucky.
  • If you called twice and still they wouldn’t waive your fee, then tell the representative that your “other” credit cards don’t charge you and you will cancel your credit card subscription with them. This is like the last resort because what if that is your only credit card and the representative will really cancel your card. Bye bye credit card?

By emailing a request to

  • I’ve seen a post that you could just e-mail the bank. If you’re not the talking type, then you could do this instead.

 By sending BPI a (love)letter

This is the method which worked for me. I went to a branch near my office and asked them how can I waive BPI credit card annual fee. Below is the letter which I have sent, of course, with the sensitive details replaced.

You can download the copy and use it if you wish. Just be sure to include the following important details:

  1. Your name
  2. Your credit card type
  3. Your credit card number
  4. The annual fee amount
  5. The reason why you cannot (or won’t) pay the annual fee (This is kind of a DUH question, but yes, you have to state it in written form.)

Credit Card Fees Letter

The representative who got my letter told me to wait for my next bank statement, but after a few  days, I have already seen the refund on my BPI Expressonline. Yipee! It’s only 50% though. I don’t know why. Should I have bothered calling them again? Maybe. The people whom I talked to told me that the first year often gets denied for the annual fee waive request.

Nevertheless, I was glad that they have refunded Php750.00 on my account. It was together with my tax-free shopping refund, so I was kind of glad that day. Maybe I’ll call them next year if they’ll charge me again.

And, oh, don’t offer to trade your points with their waive grant. They haven’t touched my points. They better don’t.

Have you tried waiving your credit card annual fee?

Or have you any more tips for me? Or perhaps some questions? Drop them all in the comment section below!

Are you a personal finance freak like me? Or still planning to be one?

Let’s connect!

Loveisamutt Personal Finance ChitChats
Let’s work our way to
creating our own dream jobs,
retiring early,
pursuing our passions for the rest of our lives
and inspiring one another.
If you haven’t started yet, but you’re willing to give your own financial odyssey a try, then by all means, start now.
Get started with a FREE Financial Literacy Seminar.