Posts: 25
Registered: ‎03-12-2007

fee on my credit card

I have a credit card I've had for a number of years.  At some point they started charging me a $4.00 per month fee.  I have called and asked them if they would lose the fee.  They said no. I don't want to cancel the card and hurt my credit score which is very good.  I have one other card.  Any ideas?
New Visitor
Posts: 4
Registered: ‎03-12-2007

Do you use the card at all?  If you don't then you don't...

Do you use the card at all?  If you don't then you don't have much bargaining leverage.
Do you have a balance on the other card?  If so, you might consider asking them to end the fee permanently so that you can transfer your balance from the other card over.  They either will or won't.
If they won't, then the question really is... is a good score worth $48 per year to you?  A 3-way report each year costs that... and a drop of just a few points could cost you more than that per year in interest.
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007

Roscoe, do you haveany other card besides the one?  Were...

Roscoe, do you haveany other card besides the one?  Were they opened around the same time?  I had the same issues after having a card for 4 yrs.  I did wind up closing the card and my score initially took a hit but in the past year with good payment habits, my sscores have increase 100 points.  I had one other card that was the same age and opened a couple of others.  Unless you can get no other card except that one with the annual fee, the annual fee is not worth it IMHO.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+