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credit card annual fee placed on card then assessed interest??

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Anonymous
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credit card annual fee placed on card then assessed interest??

i have a credit card that I have never paid an annual fee on.  I noticed today that they charged an annual fee of $55 and then charged interest on it.  (so far $2).

 

anyone know what the heck this is about?  i haven't call them yet b/c I'm trying to get some insight before i do.

Message 1 of 30
29 REPLIES 29
afbar1114
Valued Contributor

Re: credit card annual fee placed on card then assessed interest??

what card? need more info

AMEX PRG; AMEX EveryDay $14,800; Freedom $6k; Sapphire $7k; IHG Select $5k; Discover $2,400; BofA Better Balance $9,100; Bank Americard $5,900; Citi DC $2,700; Citi Diamond $2,500; BestBuy $20,000; Amazon Prime $5k, United Club $15,000; Home Depot $20,000; Barclays $7,500

Total Credit Limits: $122,650
Message 2 of 30
Anonymous
Not applicable

Re: credit card annual fee placed on card then assessed interest??

first financial bank usa.  i got this while in high school and it's my oldest account so i do not want to close it.

 

btw, it is the worst credit card company on this planet and the 2nd worst on mars.

Message 3 of 30
clocktick
Valued Contributor

Re: credit card annual fee placed on card then assessed interest??

They probably mailed/e-mailed you a letter, with small print, that they were going to start charging an AF.  You probably had a chance to close it and opt out of paying.  You can try to call and have it waived. 

 

Just curious, if it's such a terrible card then why the desire to keep it open?  What other cards do you have?

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


Take the FICO Fitness Challenge

Message 4 of 30
afbar1114
Valued Contributor

Re: credit card annual fee placed on card then assessed interest??


@Anonymous wrote:

first financial bank usa.  i got this while in high school and it's my oldest account so i do not want to close it.

 

btw, it is the worst credit card company on this planet and the 2nd worst on mars.


then why not close we still need more info ie any AF , apr, CL, stuff like that we will try to help

 

ETA: did you happen to pay late or go over the limit?

AMEX PRG; AMEX EveryDay $14,800; Freedom $6k; Sapphire $7k; IHG Select $5k; Discover $2,400; BofA Better Balance $9,100; Bank Americard $5,900; Citi DC $2,700; Citi Diamond $2,500; BestBuy $20,000; Amazon Prime $5k, United Club $15,000; Home Depot $20,000; Barclays $7,500

Total Credit Limits: $122,650
Message 5 of 30
Anonymous
Not applicable

Re: credit card annual fee placed on card then assessed interest??

read above for the reason why i do not want to close it.

 

also, apr, limit, etc doesn't matter as it has had a zero balance for years.

 

my question is....

 

 

can they charge interest on an annual fee charged onto the card???

Message 6 of 30
clocktick
Valued Contributor

Re: credit card annual fee placed on card then assessed interest??

Yes, because it's part of your balance as a payment owed.  Did you let it go past 30 days?  When did they charge it?

 

FYI, closed cards stay on your reports for ~10 years.

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


Take the FICO Fitness Challenge

Message 7 of 30
afbar1114
Valued Contributor

Re: credit card annual fee placed on card then assessed interest??


@Anonymous wrote:

read above for the reason why i do not want to close it.

 

also, apr, limit, etc doesn't matter as it has had a zero balance for years.

 

my question is....

 

 

can they charge interest on an annual fee charged onto the card???


i just looked at that card it isnt great but it isnt terrabile... how long have you had the card and yes they can charge you intrest on the AF its in the agreement. if a card isnt working for you just done keep it open just because its your oldest... i closed my oldest card a few months ago because it was no longer needed... the apr alone would be one reason why i would close it.  and you dont need to sound mean we are trying to help..

AMEX PRG; AMEX EveryDay $14,800; Freedom $6k; Sapphire $7k; IHG Select $5k; Discover $2,400; BofA Better Balance $9,100; Bank Americard $5,900; Citi DC $2,700; Citi Diamond $2,500; BestBuy $20,000; Amazon Prime $5k, United Club $15,000; Home Depot $20,000; Barclays $7,500

Total Credit Limits: $122,650
Message 8 of 30
Anonymous
Not applicable

Re: credit card annual fee placed on card then assessed interest??

so they can charge interest on an AF.  wow.

 

ok, thanks guys.  also, no it was never late or past the limit. 

Message 9 of 30
afbar1114
Valued Contributor

Re: credit card annual fee placed on card then assessed interest??


@Anonymous wrote:

so they can charge interest on an AF.  wow.

 

ok, thanks guys.  also, no it was never late or past the limit. 


can i ask how long you have had the card and what does your profile look like 

AMEX PRG; AMEX EveryDay $14,800; Freedom $6k; Sapphire $7k; IHG Select $5k; Discover $2,400; BofA Better Balance $9,100; Bank Americard $5,900; Citi DC $2,700; Citi Diamond $2,500; BestBuy $20,000; Amazon Prime $5k, United Club $15,000; Home Depot $20,000; Barclays $7,500

Total Credit Limits: $122,650
Message 10 of 30
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