HSBC Annual Fee

[gettingstarted]

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 EXLUS 747

[LS2982]

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@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 EXLUS 747

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

[gettingstarted]

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

[LS2982]

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@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

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

[gettingstarted]

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

[LS2982]

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@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

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

[lithium78]

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?

[gettingstarted]

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

[jamesdwi]

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@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 EXLUS 747

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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. 

[searchingfor67]

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.