If you need a break on credit card fees, just ask and you'll likely get it, report says

Bankrate.com found that more than 80% of requests for late fee waivers were granted
Report says now is a good time to ask for late fees to be waived
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By NewsRadio 1120 KMOX

ST. LOUIS, MO (KMOX) - A new report shows one-third of all credit card holders were assessed late fees this year, but few asked for those fees to be waived.

"Not enough people are asking," says Bankrate.com Credit Card Analyst Ted Rossman, "we found that fewer than half of people who were assessed a late fee this year asked for a break."

Rossman says more than 80% of the time, people who did ask for forgiveness had late fees completely or partially waived by their credit card companies.

He says those companies are willing to give breaks in order to retain customers.

The report also says a large majority of people who asked for things like a lower interest rate and a higher spending limit were also granted their request.

In some countries bargaining is a way of life, but in the U.S. many people seem unable to ask for deals of any kind, writes BankRate's Barri Segal.

"This year, 33 percent of cardholders were charged a late fee and almost half of them (47 percent) asked for it to be waived," Segal states "Of those cardholders who asked for late fee waivers, almost all (82 percent) got some relief—almost half (45 percent) got all of them waived and 37 percent got some waived."

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