My business credit card company charges an annual membership fee of $59. Finding myself tired of this kind of behavior, I called them and said “I’d like to have a charge removed from my account”. The rep said “This is your annual membership fee” to which I replied “I understand. I’d like to have it removed”. After what seemed liked an awkward silence, the rep started to read boiler plate text that went something like “You will see a one-time credit on your account within the next 3-5 business days…”. I graciously thanked her and hung up.
I’m usually averse to doing these kinds of tasks myself, viewing it as beneath my pay grade. But after I got off the phone, I looked at my call history: 5 minutes. 60/5=12*59=708. $708 per hour IS worth my time. It’s more than my accountant or attorney charges and I didn’t have to rack up $100k in student loans to learn how to do it. I simply asked.
Judging by the ease with which my request was honored, I’m guessing that the company applies this charge, banking on the fact that most people will just roll over and take it. I’m also guessing that it contributes a healthy sum to their bottom line.
I don’t play the stock market. But if I did, I’d hope that any company I invested in had a CEO who thoughtfully valued their time in such a way.
Sometimes it’s the little things that count.