I am getting conflicting data points here. Reader Tim C. on 11 March 2019 says:
Just to let everyone know. I just applied for the citi prestige and got approved for the MLA benefits. However, they told me that they would not be waiving the annual fee because the interest on the card had not reached 36%. It was extremely confusing and very unfortunate to hear. Does anyone have any advice on how else to get it waived?
However at the same time reader Jesus on 08 March 2019 writes:
Submitted required docs to Citi last Friday MLA credit for $495 applied Monday for the Citi Prestige. Account was opened 2 weeks ago.
Redditor FB1088 writes on 11 Mar 2018:
My AA Exec was opened July 2018. I emailed them regarding MLA and they sent me a letter on 5 March saying it qualified for MLA. My brand new Prestige fee was waived the same statement the fee was applied.
It looks like some people are getting waivers while others are not. The same thing seems to be going on for the American Airlines Executive Card. Let’s put all the data points on this one post here.
Update: Reader Ryan says:
Try lowering your credit limit. They probably use some sort of formula to determine if your effective interest rate is less than 36% based on credit limit and annual fee. For example: APR + (495/CL) < 0.36; So if your APR is 20% (0.2), then you would want your CL to be $3000 or lower. Just a theory but I think it makes sense…
This was a trick to do with the Ritz card, if you can get your credit limit to be less than two times the annual fee then they can’t charge you the annual fee. It is written up here. It’s just that we are using the 36% cap per the MLA.