How to Waive BPI Credit Card Annual Fee

Credit Card Savings
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Credit Card Savings

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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 expressonline@bpi.com.ph

  • 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?

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Obsessed with Tracking Our Finances

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Hey, there! I haven’t realized it for a long time, but my boyfriend and I are actively taking control of our finances and that makes me happy. I’ve never understood my financial behavior until now. I mean, I have drafted a lot of excel sheets for our personal finance trackers! Yes, and I haven’t missed a day since.I THOUGHT IT WAS CRAZY BEFORE!


I’ve heard, read and see people doing this. My co-worker who happened to be neighbor was soooo thrifty that he records his expenses up to the last cent. When we hang out before, he would do his excel spreadsheet before starting our Big Bang Theory series marathon. I thought he was crazy for doing so. Turned out he is planning on marrying his girlfriend. Well, they did a month ago.I read a lot of Suze Orman too. Bought a copy of Suze Orman’s Financial Guidebook on a book sale last year and on the first few chapters, she encouraged people to actually track their finances and I thought I couldn’t make it.

But, here I am now, happy with the financial tracking tools that we are using. It’s pretty fun actually and motivating if you ask me. It helps me visualize my dreams more and it helps me to focus on what we want. It helps me to do more for my dreams.

OUR PERSONAL FINANCE TOOLS

There are lots of tools and even apps that I have found on the internet and I have downloaded a couple on our iPad. They were Toshl Finance, Wally and Expense 2.0. I found Expense 2.0 interesting. It has graphics which make the documentation more interesting. But, being somebody who is bossy and picky (lol), I decided to draft our expense tracker from Excel. It was easier and more secure that way. For our other tools, I have downloaded templates online through MS Excel.

Take a look at the snapshots of our tools below.

Expense Tracker

I’ve done it daily so that tracking would be easier. It’ll just take a few minutes of your time. If you haven’t spent at all, then you are saved from inputting.

I have been doing the expense for two months now and then, I merge the data. Here are my spendings. Am I a wise spender? You can see I have credit card dues. Well, they’re plane tickets and phone bills and the likes. I like to do online transactions. Saves me time.

I want to see the trend for each component that’s why I made this. Pink box covers the actual amount! Shame on me for spending a lot on food. Oh well. I have groceries and misc. food. Hah! I need to try the food here in Limerick. It’s still your call when it comes to your priorities.

Savings Tracker

Boyfriend and I are saving up for things like emergency fund. And we track our progress so we get motivated. This was a template I downloaded online. It’s pretty handy and this is the only ready-made template that I’m comfortable using. We’re close to our goal — more than halfway there!

Asset Allocation Tracker

Lastly, I have decided to track my asset allocation since I want to see where I currently am. It covers everything I have. It’s plainly cash and stocks only. Still have to work on my investments!

These are all I currently have. I am still missing the income-debt statements. I have some bills which come regularly in my credit card so I still have to track that down. Soon. I will. And I’ve seen how other people track their MF portfolio. Oh, I am coming there soon. :)
Now, that I am tracking my expenses, I am more aware of where my money went. No more, “I must’ve lost a couple of bills on my wallet” thoughts. It’s motivating and it’s sort of fulfilling. You should try it some time.
If you’d like to purchase ready-made templates on the net, you could check the following templates below:
So, I hope I have inspired you to track your finances. I’ll be making a detailed explanation on each maybe on The Boomlet Diaries and Finance Pinoy. But if you have any questions for now, just drop them off on the comment box below or just shoot me an e-mail. I’ll be happy to help you.
You could help me hone my associate financial planning skills too if you ask. ;)

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