Can You Fight Unnecessary Credit Card Fee?

Dear Credit Card Adviser,

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I've been paying a monthly credit card fee on my American Express. I never agreed to it, and I thought I had no choice in the matter. But now, they just wrote me to say they're discontinuing the fee. What gives? What is this fee?

Dear Elika,

You have run into a hot topic. American Express' account protector service is considered an add-on product offered by credit card companies.

This particular service promises to pay a small portion of your credit card balance if you experience a major life event such as a job loss or disability, according to the American Express website. The service costs 85 cents per $100 of your total outstanding balance each month. If you carried a balance of $2,000 each month, for example, your monthly fee would be $17.

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