BoA to begin charging annual fee?

[Anonymous514]

Last week a BoA rep told me soon they will begin charging everyone an annual fee...

[icyhot]

For what card??

[Anonymous514]

The CSR said every card/cardholder.

[longtimelurker]

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@bigalkescott514 wrote:

The CSR said every card/cardholder.

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Probably due to BoA being bought out by Capital One.

[Anonymous]

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@longtimelurker wrote:

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@bigalkescott514 wrote:

The CSR said every card/cardholder.

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Probably due to BoA being bought out by Capital One.

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LOL...

[Imperfectfuture]

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@longtimelurker wrote:

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@bigalkescott514 wrote:

The CSR said every card/cardholder.

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Probably due to BoA being bought out by Capital One.

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You're bad.  To the corner with you.  

[Anonymous]

Customer service reps say all sorts of silly things. And sadly, if misinformed, even with a recording of the conversation, one often can't legally do much, since the company will say their written agreement controls.

If one's credit profile (not talking scores per se) is excellent, annual fees will be few and far between; easily waived. If BoA really does go annual fees for all, they'll be losing a lot of cardholders. Simple as that, and they know it - so don't believe the annual fee for all spiel; CSR's imagination running wild and/or seeking to justify not offering the best terms for whatever card you were inquiring about.

[icyhot]

I can't imagine them charging an AF for any of their flagship cards, partner cards maybe. That'd be bad

[longtimelurker]

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@icyhot wrote:
I can't imagine them charging an AF for any of their flagship cards, partner cards maybe. That'd be bad

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Trouble is, annual fees can appear attractive to decision makers as an easy source of some revenue at little or no effort.  I would bet that all big banks have lots of people who rarely if ever use some cards, and now (potentially) we can get some money off them.    For those not caught up in the world of credit card comparisons, a $25-50 fee might sound reasonable on a card that gives some rewards, tolerable enough not to consider cancelling and looking for a new card.

[Anonymous]

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@longtimelurker wrote:

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@bigalkescott514 wrote:

The CSR said every card/cardholder.

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Probably due to BoA being bought out by Capital One.

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