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Being charged an annual fee a few days into opening my new BofA Secured Card? Is this normal?

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Being charged an annual fee a few days into opening my new BofA Secured Card? Is this normal?

So earlier this month I made my first post in regards to opening up a Bank of America Secured card and a Capital One secured. Got some good response and I was thankfully approved for both.

I've had my Bank of America Secured card for a few days now (got it on the 17th) and I find that I'm being charged the annual fee today? Now is this normal?

I was expecting to be charged once I completed my first 12 months with the card. Not this soon. I was completely taken aback from seeing the charge in my transactions.

Any information would be appreciated.


                    - Thanks

Message 1 of 6
5 REPLIES 5
RCFL
Frequent Contributor

Re: Being charged an annual fee a few days into opening my new BofA Secured Card? Is this normal?

I think that's the norm. I have CapitalOne with annual fee. They charged me the annual fee a few days after activation. 

Message 2 of 6

Re: Being charged an annual fee a few days into opening my new BofA Secured Card? Is this normal?

Pheww. Thanks for the quick reply RCFL.

For a second there I thought I had done something wrong and that's why I was being charged early on. lol

 

Message 3 of 6
trumpet-205
Valued Contributor

Re: Being charged an annual fee a few days into opening my new BofA Secured Card? Is this normal?

Annual fee are charged few days after you were approved of the card.

 

There is no such thing as deferred annual fee.

Message 4 of 6
B335is
Moderator Emeritus

Re: Being charged an annual fee a few days into opening my new BofA Secured Card? Is this normal?


@trumpet-205 wrote:

Annual fee are charged few days after you were approved of the card.

 

There is no such thing as deferred annual fee.


+1

 

Unless AF is explicitely waived in sign up offer, be prepared to see it on your first statement.

Message 5 of 6
takeshi74
Senior Contributor

Re: Being charged an annual fee a few days into opening my new BofA Secured Card? Is this normal?


@CraigCreditGuy wrote:

I've had my Bank of America Secured card for a few days now (got it on the 17th) and I find that I'm being charged the annual fee today? Now is this normal?


Yes.

Message 6 of 6
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