topic Re: Can an annual fee just be added on? in Credit Cards

Can an annual fee just be added on?

Anonymous — Sun, 21 Oct 2012 12:19:07 GMT

I have a cap 1 no hassle rewards card that when I apps an received the card, there was no AF. I was very diligent at the time to make sure it just wasn't an intro $0 AF either before aping.

I just got a score alert that my balance had posted and that my score dropped 2 points due to a balance on my card. I had paid it off and SD it jut to make sure I had 0% util on it this month. So obviouSly when it said I had a balance I checked.

When I went and looked at the statement online, they added a $39 membership fee literally just as it posted putting my 300 cl at over 10% which is NOT what I wanted at all.

Can they just add an AF without posting it in plain English on the membership agreement? I never carry a balance more than a couple bucks and use te card heavily always pig long before the statement closes so I have a feeling asking to get it removed and then my reports updated is a lingshot.

Anyone else have this happen to them?

Can I request a copy of the original membership agreement from them or am I just going to get one that shows an AF?

Re: Can an annual fee just be added on?

afbar1114 — Sun, 21 Oct 2012 13:44:04 GMT

I belive there is only an af for that card. And you should show a bal on your cr so it shows use. And that you can handle it well. This came into play with a few recons saying they like ny useage and some banks dont like seeing a $0 bal post.

Sent from phone

Re: Can an annual fee just be added on?

JonStur — Sun, 21 Oct 2012 13:45:23 GMT

I would definitely call customer service...

Re: Can an annual fee just be added on?

Shogun — Sun, 21 Oct 2012 13:53:23 GMT

+1 Contact customer service, however with that amount it sounds like a credit steps card. They do carry an AF after the first year I do believe.

Re: Can an annual fee just be added on?

jsucool76 — Sun, 21 Oct 2012 14:11:52 GMT

The only way to get those kinds of cards with no AF is if they send you a special mail offer. Otherwise almost all of their "average" cards have an annual fee.

Re: Can an annual fee just be added on?

Anonymous — Sun, 21 Oct 2012 14:35:23 GMT

They had 2 versions of that card, one with $39 fee (average credit) and one with $0 (excellent credit). .

Re: Can an annual fee just be added on?

youngandcreditwrthy — Sun, 21 Oct 2012 15:56:19 GMT

+1 wolf.

Problem is...if you dont have the original cardmember agreement, they can send you whatever one they want to now.... Lol Call them and dispute it with the CRAs.

Re: Can an annual fee just be added on?

trumpet-205 — Sun, 21 Oct 2012 16:02:31 GMT

I'm pretty sure that card has an AF. $300 CL means average credit version = most certainly an AF.

Re: Can an annual fee just be added on?

Cdnewmanpac — Sun, 21 Oct 2012 16:05:14 GMT

@Anonymous wrote:
They had 2 versions of that card, one with $39 fee (average credit) and one with $0 (excellent credit). .

My guess is that op APPLIED for the zero AF version, but got APPROVED for the AF version with first year waived. With a 300 limit, I can't imagine op met cap 1 criteria for excellent" credit. Op makes several references to confirming no AF BEFORE applying, but none to confirming with T&C after accepted. This still happens with the jimmy Fallon card, where people apply for the excellent credit version, but get approved for the average credit version.

Re: Can an annual fee just be added on?

migliogiorni — Sun, 21 Oct 2012 16:10:12 GMT

talk to CSR they may be able to waive it. Like others have stated it sounds like the average credit version so if you get it waived this time, you won't get it waived next year, GL.

Re: Can an annual fee just be added on?

Anonymous — Sun, 21 Oct 2012 16:14:20 GMT

@Anonymous wrote:
They had 2 versions of that card, one with $39 fee (average credit) and one with $0 (excellent credit). .

+1 - CO's model for this product is to lure people in with the promise of cash back, then give them essentially meaningless credit lines. CO collects the AF, and I'd wager that for the bulk of their customers, their cash back will never equal to the AF. They are essentially partially refunding your AF back to you.

Which makes this a case of paying a lender to obtain a trade line on your report. That, of course, has its place, but treat this card like what it is and don't exepct too much from it.

Re: Can an annual fee just be added on?

Anonymous — Mon, 22 Oct 2012 12:46:21 GMT

Ok thanks for the replies. I called and talked to someone and was basically told "well it already posted, we can't waive it now - you pay for the year upfront its a membership fee " I then asked why I didn't have to pay an AF for the first year and a couple months of this year and he claimed I did. I then looked at my first statment online and there was no fee whatsoever only the 1 charge I made that month. I then checked my second statment and again no AF or any fee of any sorts.

Also This wasn't the start of the 12th or 13th month I've had this card....I've had 14 different statments already so really I'm going into the 15th month with this card...So again why all of a sudden would they tack it on now.

From what everyone said I'm guessing its supposed to have one and I guess I'll just consider myself lucky that I didn't pay it up to this point I did request a copy of my cardmember agreement but I'm assuming it will show it on there. I've been trying to locate mine but we've since moved and I know its probably stuck in moving limbo.

Also someone said about not letting a card report with a 0 balance - this isn't my ONLY card. For optimal Fico scoring you should have all cards except for 1 post a 0 balance and 1 posting a 9% balance. Since this card is onlyl a $300 credit limit its much easier to just pay off as stuff posts and let it post at $0 and my other card that has a $750 CL post 1 or 2 purchases for that optimal 5-9% util.

As far as the rewards, I push quite a bit through this card (gas and groceries are always 2%) and so just by paying for my wife and my gas going to and from work and then making a monthly payment for a vacation on the card we've earned far more than the $39 it cost me to have the card...I just wish I didn't have to pay it, or that they would have at least notified me that they were adding it on NOT on my anniversary date.