Regular Contributor
Posts: 123
Registered: ‎01-15-2009

I'm Liberated! I Just D/C'd My 2 Household Bank Accounts

[ Edited ]

So, I went on a credit spree a few months ago, and opened up the accounts that are indicated in my sig below. Previously, I only had 2 low-limit cards, both of them from HSBC: a $800 one and a $520 one. After getting my good, NO fee credit cards, I called HSBC to see if I could PC to cards with no annnual fees and also get my limits boosted. They refused to boost my limits. Unfortunately, the 2 cards are my oldest open credit cards--about 7 yrs. old apiece.


Today, a $59 annual fee hit the $800 card. This is ridiculous! Usurious, in fact! So I called to have them waive the fee. I was connected to a manager who refused to waive it, but offered to let me pay ONLY $26. I pointed out that my Discover and Chase cards charge NO fees and that they actually provide me with more services and protections. I told him that I would not be paying ANY annual fees to HSBC, and if that was the deal, that I would cancel both accounts, immediately.


He was only too happy to assist me. Almost gleeful!


I know that this will eventually affect my AAoA and my overall available credit amount AND that you are never supposed to close your oldest account--- but I have grown utterly sick and TIRED of being bullied around and exploited by these greedy credit card companies. My days of being a fee / interest sucker for them are OVER! Since I moved to a new apartment and bought a new car just a month ago, I should not need access to seriously great credit scores again for at least 5 more years, so good riddance, already! My MyFICO scores on here as of today (I just splurged and pulled and printed them) are 725 EQI, 765 TU. 


<rant over> :smileyvery-happy:

All 3 bureaus (per Amex CreditSecure FAKO) are still 748 (as of 12/19/13). Cards: Discover It, $12,100, Chase Freedom $3,300, Chase Amazon $1,500, Walmart store $11,000, AMEX Zync NPSL, Costco Amex $14,700. US. Bank Cash +, $5,000. AMEX SPG $6,000, PenFed Plat. Cash Rewards $17,500, PenFed P-LOC $10,000, Citi Forward $5,100, Chase Slate $5,000, Old Navy, $2,200.
Posts: 85
Registered: ‎11-21-2012

Re: I'm Liberated! I Just D/C'd My 2 Household Bank Accounts

Who cares !! 10 years when this actually matters you will be in amex heaven....LOL...
Barclays World MC / Total Rewards Visa / Discover IT / Wells Fargo Platinum Rewards / Cap 1 QS / PPSC

Established Contributor
Posts: 560
Registered: ‎09-29-2012

Re: I'm Liberated! I Just D/C'd My 2 Household Bank Accounts

Congrats!  Eyes front.  Don't look back.  Kiss them goodbye :smileywink:

Established Contributor
Posts: 758
Registered: ‎02-11-2012

Re: I'm Liberated! I Just D/C'd My 2 Household Bank Accounts

Congrats! Your AAOA will recover fast with the two new trade lines.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)

Remember the Three P's: Pay early in Full, Pay on Time, Patience

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