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New Contributor
JustinIND
Posts: 67
Registered: ‎09-19-2007
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Juniper MC - Goodbye

Saying goodbye to Juniper Platinum MC after receiving a letter yesterday in the mail that they are enhancing my credit card with a 1% cash back reward! :-) The catch is they are adding a 99.00$ annual fee to the card Boooo :-( . I have had the card over 4 years with a decent CC and UTIL and no annual fee.

 

Called and spoke with a relationship manager and he stated that all of their cards now have a tier annual fee schedule. He offered to lower my APR on the card and reduce my annual fee by 25$. Said he could not wave the entire fee. Ended up paying off the card and closing the account by the end of the call.

 

So Long!

Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
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Re: Juniper MC - Goodbye

All Barclay's cards will have an annual fee3?  Me no likee.

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: Juniper MC - Goodbye


MidnightVoice wrote:

All Barclay's cards will have an annual fee3?  Me no likee.


If they slap a fee on my Barnes & Noble then I'll be kissing that card goodbye!

IAALBNYL
Regular Contributor
debtfree09
Posts: 119
Registered: ‎03-08-2009
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Re: Juniper MC - Goodbye

I cannot understand how people did not see these annual fees coming with this new law.  It has been stated over and over in everything I read that this is what will happen when cc companies cannot charge all the fees they used to charge.  Even a lot of cards with the big guys are going to start charging annual fees.  What happens if they all eventually do?  Are you going to close all your cards?  I imagine the ones who don't will be really strict about who can get them.  I did research on credit cards, the crunch and the new law for a paper I had to write so I'm not just picking this out of thin air.

Established Contributor
orl2185
Posts: 778
Registered: ‎03-07-2007
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Re: Juniper MC - Goodbye

 


debtfree09 wrote:

I cannot understand how people did not see these annual fees coming with this new law.  It has been stated over and over in everything I read that this is what will happen when cc companies cannot charge all the fees they used to charge.  Even a lot of cards with the big guys are going to start charging annual fees.  What happens if they all eventually do?  Are you going to close all your cards?  I imagine the ones who don't will be really strict about who can get them.  I did research on credit cards, the crunch and the new law for a paper I had to write so I'm not just picking this out of thin air.

 

 

 

Simple answer.... Hells Yeah!!!!

 

I will kick them all to da curb.

 


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Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: Juniper MC - Goodbye


debtfree09 wrote:

I cannot understand how people did not see these annual fees coming with this new law.  It has been stated over and over in everything I read that this is what will happen when cc companies cannot charge all the fees they used to charge.  Even a lot of cards with the big guys are going to start charging annual fees.  What happens if they all eventually do?  Are you going to close all your cards?  I imagine the ones who don't will be really strict about who can get them.  I did research on credit cards, the crunch and the new law for a paper I had to write so I'm not just picking this out of thin air.


You are absolutely correct in that it should not be a surprise and that there has been ample warning.  Right now I think we are just waiting for the dust to settle to see what the new reality will be. 

 

Personally, for me an annual fee is virtually a 100% deal-breaker.  But I'm not worried ... just like on the good old days, when everyone charges an annual fee there will always be one non-conformist that decides to compete by eliminating annual fees.

IAALBNYL
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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Juniper MC - Goodbye

Sure, they have the right to do it, and I have the right to close my card in a heartbeat. I haven't trusted a CCC (including my beloved USAA) in forever. Their goals are not my goals. There's no reason to expect them to look out for my interests.

 

I do think that market forces will result in some cards still having no fees. I have zippo faith in "market forces" in the overall economy, but when it comes to lenders doing business with individuals, I think that some will still be out there, especially if enough of us mail in our shredded cards after the imposition of AF's. Someone out there will want to do business eventually. We have already seen this over the last 2 years, with the initial credit melt-down, massive CLD's and card closures, and then the gradual loosening up of credit once again --for those with good credit.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
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