11-28-2012 05:05 PM - edited 11-28-2012 05:07 PM
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.
11-28-2012 06:09 PM
11-28-2012 07:03 PM
Congrats! Your AAOA will recover fast with the two new trade lines.
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