topic Re: just Annual Fee in Credit Cards

HSBC Annual Fee

gettingstarted — Sat, 07 Apr 2012 13:36:47 GMT

Just want to know if anybody has had any success with getting HSBC to drop their annual fee after you have been with them for awhile

FICO: EQ:735 TU: 760 EX:PLUS 747

Re: HSBC Annual Fee

LS2982 — Sat, 07 Apr 2012 14:07:58 GMT

gettingstarted wrote:
Just want to know if anybody has had any success with getting HSBC to drop their annual fee after you have been with them for awhile

FICO: EQ:735 TU: 760 EX:PLUS 747

You can always threaten to cancel if they dont, how long have you had the card and what is the AF?

Re: just Annual Fee

gettingstarted — Sat, 07 Apr 2012 14:28:47 GMT

I have had the card for almost 4 years now and it only has a 400.00 limit that just got increased from 300.00 after they did a SP

Re: just Annual Fee

LS2982 — Sat, 07 Apr 2012 14:29:53 GMT

gettingstarted wrote:
I have had the card for almost 4 years now and it only has a 400.00 limit that just got increased from 300.00 after they did a SP

Whats the AF?? Do you have other cards with a decent history? What is your AAoA?

Re: just Annual Fee

gettingstarted — Sat, 07 Apr 2012 14:44:28 GMT

Sorry the annual fee is 59.00 and yes I have a chase master card with a limit of 500.00 and just got approved for a discover card with 6000.00 not reporting on 3 CRA yet no missed payment and no colletios on my CR

Re: just Annual Fee

LS2982 — Sat, 07 Apr 2012 14:47:31 GMT

gettingstarted wrote:
Sorry the annual fee is 59.00 and yes I have a chase master card with a limit of 500.00 and just got approved for a discover card with 6000.00 not reporting on 3 CRA yet no missed payment and no colletios on my CR

I'd axe it. No need to pay that fee for that toy limit.

Re: just Annual Fee

lithium78 — Sat, 07 Apr 2012 14:49:47 GMT

I'm curious about people's experience with this as well. My BBRZ MC annual fee is coming up in June, so I'm planning to ask HSBC to either change my tier so I won't have to pay it or waive the AF. If they don't do it, I guess I'll have to wave goodbye to the card. I like the rewards, but I've grown beyond the need to pay AFs on my CCs anymore. Anybody have any success with HSBC in getting them to waive the AF?

Re: just Annual Fee

gettingstarted — Sat, 07 Apr 2012 14:50:52 GMT

Thanks for the advice and I think I will especially since they are selling out to capital one and Im not a big fan of theirs although Im starting to hear good things about them again

Re: HSBC Annual Fee

jamesdwi — Sat, 07 Apr 2012 15:28:52 GMT

gettingstarted wrote:
Just want to know if anybody has had any success with getting HSBC to drop their annual fee after you have been with them for awhile

FICO: EQ:735 TU: 760 EX:PLUS 747

depends on the card, my HSBC Sears had the $59 fee, they cut it in half year one, this year it hit again, asked for it to be waived they said they could do 1/2 off, I said not good enough and canceled it.

My 2+ year old HSBC BestBuy card came with the AF, I called and asked for it to be waived, they said ok, I expected to be hit with it again the following year but have never seen an AF again didn't even have to call just gone.

I had far better question when I asked for the Sears card AF to be waived, had 2x prime cards in my wallet they just didnt' want to budge ,no wonder Sears is dieing, credit choices are limited to Citi backed cards with very hard standards, or HSBC cards with low limits how do I by a Washmachine and dryer with only a toy $400 limit. Perhaps in a year or two I will AP again for a sears card and only say yes if I get the Store card.

YMMV. But always worth asking, its fun to cut up cards beause you know you can't screw up your credit with closed TL's in good standing.

Re: HSBC Annual Fee

searchingfor67 — Sat, 07 Apr 2012 15:35:26 GMT

I've never had any success with them either lowering or waiving my annual fee. I will be cancelling mine next month before the annual fee hits. It is my oldest card at almost 4 years old, but it's also my lowest cl at $1020...not worth the $79 annual fee.

Re: HSBC Annual Fee

sunshine7157 — Sat, 07 Apr 2012 15:51:26 GMT

gettingstarted wrote:
Just want to know if anybody has had any success with getting HSBC to drop their annual fee after you have been with them for awhile

FICO: EQ:735 TU: 760 EX:PLUS 747

I called HSBC last week for the same reason. I have an Orchard with a $400 limit & a $59 annual fee. The limit is so ridiculously low that I don't even use the card. My AF hits in May. When I called & told them to cancel because of this reason, the CSR said they could waive the AF, but I have to wait & call back when the AF actually appears on the statement. Apparantly they can't do it ahead of time? Either way, I'll end up cancelling it eventually- I have a pretty thin credit file & need to rack up a couple more revolving lines before I cancel. This account helps put me in a better 'number of accounts' catagory for now.

Re: HSBC Annual Fee

TBOY012 — Sat, 07 Apr 2012 16:50:34 GMT

I have been waiting to axe my Household Bank card also but im just curious how the transition to Cap 1 will affect me first before I drop it. Its funny that I have been

getting Ochard Bank, and BBMC card offers from emails and mails almost every week right now even though I already have two accouts with them.

Guess they are trying to get everything they can before they finalize it.

According to the most recent BBMC card offer, it states at after 04/30/12 all credit decisions will be made my Cap 1, so I guess I will wait til then to see how it turns out.

Re: HSBC Annual Fee

gettingstarted — Sat, 07 Apr 2012 17:05:06 GMT

I was wondering when the transition was going to take place I could never get definitive answer thanks for the heads up

Re: HSBC Annual Fee

FicoTron — Sat, 07 Apr 2012 17:41:26 GMT

My AF comes due in October $79. I WILL be axing this card unless they waive the fee in full. I have zero love for them after I asked for a cli and specifically made it clear, over and over that if it were to be a HP that I didn't want it. They promised it wouldn't be. Then guess what? Hard pull on EQ. D-bags.

Re: HSBC Annual Fee

gettingstarted — Sat, 07 Apr 2012 18:08:28 GMT

Yeah they didnt do a hard pull but I only got a 100.00 increase to take my limit to only 400.00 Im thinking of axing them as well as soon as I get back from Afghanistan the only reason I have kept them so far is because they lowered my APR to 6% and waived the AF while Im deployed.

Re: just Annual Fee

snowangel — Sun, 08 Apr 2012 00:15:43 GMT

LS2982 wrote:
gettingstarted wrote:
Sorry the annual fee is 59.00 and yes I have a chase master card with a limit of 500.00 and just got approved for a discover card with 6000.00 not reporting on 3 CRA yet no missed payment and no colletios on my CR
I'd axe it. No need to pay that fee for that toy limit.

Re: just Annual Fee

mxp114 — Sun, 08 Apr 2012 02:30:01 GMT

I got my AF easily waived on two HSBC products. I think the issue is most ppl SD the card for 12 months and then expect the courtesy of a goodwill gesture in the form of a $39-$79 adjustment. It costs money to maintain an account and report every month, so no charges = no revenue = not worth saving. So I just make one tiny purchase quarterly to keep the cards active.

Re: just Annual Fee

LS2982 — Sun, 08 Apr 2012 13:41:46 GMT

mxp114 wrote:
I got my AF easily waived on two HSBC products. I think the issue is most ppl SD the card for 12 months and then expect the courtesy of a goodwill gesture in the form of a $39-$79 adjustment. It costs money to maintain an account and report every month, so no charges = no revenue = not worth saving. So I just make one tiny purchase quarterly to keep the cards active.

Good point! I porbably would have been able to remove my AF from household but didn't like how their CS did me.

Re: HSBC Annual Fee

reggob — Mon, 09 Apr 2012 16:16:11 GMT

They waived my $59 annual fee in January but I definitely had to go the threaten to cancel route with them!