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Annual fee outta nowhere?!? Customer for years!

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boober
Frequent Contributor

Annual fee outta nowhere?!? Customer for years!

What the hell.

 

I paid off my pathetic $750 limit card that had been mostly maxed out the whole time I've owned, which was going on about 4 years. And then after a couple of months of having no balance on it, I see a $39.00 charge on it, and I'm like oh great, don't tell me that's an annual fee?

 

So I contact them and yup, sure enough, without any warning they decide to start charging me an annual fee!

 

Isn't there some sort of rule on this or something?

 

Banks can just start charging current customers annual fees like that out of nowhere? Smiley Sad

Message 1 of 9
8 REPLIES 8
Simply827
Established Contributor

Re: Annual fee outta nowhere?!? Customer for years!

I believe they're required to give at least 30 days notice for a change in terms. Sometimes that notice is stuck in with a statement or comes as some other piece of mail which tends to be ignored.


Starting Score: 515
Current Score: EQ08 711 EX08 731 TU08 735
Goal Score: 740+

Amex BCP $25k | Discover IT $15.7k | Cap 1 QS $10k | PSECU $10k | Citi DC $9300 | Citi DP $6800 | Barclay Ring $6500 | PayPal Extras MC $5045 | DCU $5000 | Chase Slate $5000 | Barclays AA $4100 | Chase Freedom $4000 | Union Plus $1000 | Target $500
Message 2 of 9
ceemee2203
Regular Contributor

Re: Annual fee outta nowhere?!? Customer for years!

Call them back and say you'll close the card unless they remove the fee. If you've been a good customer they'll hopefully remove. Who's the issuer?

Current Cards: AMEX Everyday ($15k), AMEX BCE ($20k), Amex Platinum, Arrival ($11.5k), Merrill+ ($7.5k), Freedom ($5k), Double Cash ($6.5k)

2/16 - 864 Fico EQ (CITI); 818 Fico Ex (AMEX)
Message 3 of 9
SnackTrader
Valued Contributor

Re: Annual fee outta nowhere?!? Customer for years!

I believe it's 45 days notice, according to this document. But if there is notice, it may be allowed. Certainly depends on a variety of factors. You are welcome to close the card if you do not wish to pay the fee.

http://www.federalreserve.gov/consumerinfo/wyntk_creditcardrules.htm

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 4 of 9
boober
Frequent Contributor

Re: Annual fee outta nowhere?!? Customer for years!

Thanks guys for the replies.

 

It's a Discover card and the bank is HSBC.

 

Another crappy thing with them is they don't seem to do any CLI's at all either.

Message 5 of 9
LS2982
Mega Contributor

Re: Annual fee outta nowhere?!? Customer for years!


@Simply827 wrote:

I believe they're required to give at least 30 days notice for a change in terms. Sometimes that notice is stuck in with a statement or comes as some other piece of mail which tends to be ignored.


 

This is true, you have to actually read through it.




EQ FICO 548 3/3/16
Message 6 of 9
boober
Frequent Contributor

Re: Annual fee outta nowhere?!? Customer for years!

Yup, that's what happened. I just looked through my stements online and the last 1 has mention of there being an annual fee, but it only says something like "if your card has an annual fee, blah blah blah...."

 

Well it doesn't say anything like "We are going to start charging you an annual fee...."

 

So since going by the way they word it, I would assume it would not apply to me since I've never had an annual fee before!

 

BS!!!!! If I had KNOWN they were going to start charging me an annual fee, I would have canceeled before hand. I like how they word it though... "If your card" instead of wording it the way they should have which is "we are going to start..."!!!!!

Message 7 of 9
youngandcreditwrthy
Senior Contributor

Re: Annual fee outta nowhere?!? Customer for years!

I would call them a politely warn them that you will contact the Consumer Financial Protection Bureau and they will probably get fined much more than the $39 af. Also ask them for proof that they notified you.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 8 of 9
Epcot
Valued Contributor

Re: Annual fee outta nowhere?!? Customer for years!

Sorry to hear, hope it gets resolved.

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 849 EX 835 TU 841
Message 9 of 9
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