There have an article about why companies still charge annual fees when people usually would ask for waivers.
Of course, the most common comment for that article was that there are many people who would not bother getting that wavier as they could be too busy or lazy hence allowing the bank to profit from it.
Some credit card annual fees are also different in that they allow you to clock up miles or points after paying the annual fee.
When I first knew about credit cards, I knew that it was a form of payment, however, I was surprised that an annual fee would need to be paid.
After I went to find out more about it, I realised that most people would actually ask for annual fee wavier where there are some banks that even have a specialized hotline for that.
In the article, it wrote that the waivers are actually not easily