Credit One Montly Fee

[KeithW]

I have a dreaded Credit One card that I got back when my credit was in the 500s. Now that I have several other cards I find myself constantly thinking about cancelling it. The only reason I haven't is that the $1500 CL looks good for my utilization.

My question is this. Has anyone had any luck getting them to PERMANANTLY drop the annual fee? If they would do this then I could just keep the card in my drawer and leave it there. If not I think I am going to finally cancel it.

[money_talks]

I have one myself and I am paying a monthly fee. I also will close it eventually. From reading other people's experience when canceling any card with fees, 100% of posters say the issuer does not budge for permanent waivers of fees. I have seen different counter offers though such as credits to accounts, waive of monthly fees for a couple of months, CLIs. In my case, I told First Premier today I was considering canceling and all they could do for me was waive the annual fee. I wanted the monthly fee waived in exchange for a couple of months at least but they wouldn't do it.

[dollar_bill]

This one is easy, if you maintain a low utilization.. kill the card because who wants an annual fee without the associated reward?

I'd say cancel the card, and pay down balances without charging more on your cards.  Once the utilization is under control, the rest is easy.

[KeithW]

I am going to call them tomorrow and see if they will waive it for 6 months or a year. If they do I will wait and cancel it after the period is up. Otherwise I will be cancelling it immediately.

[dollar_bill]

Yeah, as long as they waive the fee why bother canceling the extra util will only help...but if they don't why waste the money.

[KeithW]

Having them listed on my report just makes me feel kind of dirty. lol

[mikey78]

IMHO i think you should pay off the credit one card and consider to get another CC WO AF to make up the lost of the CL or ultilzation
You can try to call Credit one and see if they are willing to remove the AF but i thin this will be annual thing where ou will be dealing with this hassle plus not to mention monthly fees even at 0 balance

also if you close the card in good standing they will stay on your report up to 10 years and by then all other cards will be 10 be years older

[SoonerMagic1]

A couple of months ago I called to cancel my Credit One card because of the monthly fee.  They offered to waive it for 6 months.  I asked for a year, but the CS rep said he couldn't.  I accepted the offer, and will do the same thing again when my 6 months is up.  If not, I will cancel then.

I am grateful for being offered the card when my credit sucked, but now that my credit is decent and have several prime cards, I will not pay any more of their monthly fees.  Almost as annoying as the wasted money is that because of that monthly fee, I always had a balance with them even though I PIF every month.

[Irisa]

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@KeithW wrote:

Having them listed on my report just makes me feel kind of dirty. lol

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LOL..  I know what you mean!

When I called to cancel mine they offered to waive the fee for 3 months, but at that point I was ready to say goodbye