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Regular Contributor
Posts: 123
Registered: ‎01-15-2009
0

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> Smiley Very 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.
Contributor
Posts: 92
Registered: ‎11-21-2012
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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...
Amex BCE...Amex ED...Barclay WMC...Priceline Rewards Visa...Cap One Venture...Total Rewards Visa...Wells Fargo Visa...Discover IT...Pay Pal Smart Connect...Overstock Store Card...Lowe's Store Card


Established Contributor
Posts: 560
Registered: ‎09-29-2012
0

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

Congrats!  Eyes front.  Don't look back.  Kiss them goodbye Smiley Wink

Established Contributor
Posts: 760
Registered: ‎02-11-2012
0

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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