Annual fee question..

[Anonymous]

I've been meaning to cancel my bank of america cash rewards card because of the $39 annual fee. I waited too long and recently have been dinged once again for the $39 annual fee I'm dreading to pay. Is it possible to call of BoA and have them remove the fee and cancel my card? I (tried kind of) last year and the woman told me that she couldn't do it.. but how hard is it to take off the fee? I hear of them taking off late fees all the time and I'm never late. 

Has anyone had success in removal of an annual fee that has already been placed? 

[mongstradamus]

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@Anonymous wrote:

I've been meaning to cancel my bank of america cash rewards card because of the $39 annual fee. I waited too long and recently have been dinged once again for the $39 annual fee I'm dreading to pay. Is it possible to call of BoA and have them remove the fee and cancel my card? I (tried kind of) last year and the woman told me that she couldn't do it.. but how hard is it to take off the fee? I hear of them taking off late fees all the time and I'm never late. 

Has anyone had success in removal of an annual fee that has already been placed? 

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I don't if this is standard policy but amex said you have up to 60 days to decide after AF is posted. 

[wmweeza]

Funny you should post this! I have the same card, it was my first and the last 3 years I've paid the annual fee. I was debating all this last month about calling for a PC to another card because although it's a small fee, it annoys me. JUST TODAY (odd timing) I got a letter in the mail saying basically "You've been so good with your card that we're removing the annual fee permanently, thank you for using your card responsibly".

I don't know what I'm doing right; Auto CLI's every 4 months and now this

[wmweeza]

Maybe a PC to another card with them? I'm not sure since I didn't get the chance to try, but it may work. Others hopefully will chime in. Good luck!

[lg8302ch]

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@Anonymous wrote:

I've been meaning to cancel my bank of america cash rewards card because of the $39 annual fee. I waited too long and recently have been dinged once again for the $39 annual fee I'm dreading to pay. Is it possible to call of BoA and have them remove the fee and cancel my card? I (tried kind of) last year and the woman told me that she couldn't do it.. but how hard is it to take off the fee? I hear of them taking off late fees all the time and I'm never late. 

Has anyone had success in removal of an annual fee that has already been placed? 

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Call BofA and explain them that you like the card but because of the AF you will need to cancel it. I am sure BofA rather removes the AF than loosing a customer.  Good luck.  I will PM if I can find the number of the retention department I used to lower my APR.  Good luck!

[Kenny]

Why not try to PC the card to a card that doesnt' have an AF?! BoA is extremely great with PCs.

[lg8302ch]

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@KennyRS wrote:
Why not try to PC the card to a card that doesnt' have an AF?! BoA is extremely great with PCs.

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+1  to the "great with pc" but since the Cash Rewards normally does not have AF  it could be that the AF will transfer over to the new card ?

[Kenny]

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@lg8302ch wrote:

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@KennyRS wrote:
Why not try to PC the card to a card that doesnt' have an AF?! BoA is extremely great with PCs.

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+1  to the "great with pc" but since the Cash Rewards normally does not have AF  it could be that the AF will transfer over to the new card ?

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I guess. No clue! These types of things I always bother the chat about ---- ask for removal of AF and if need be then PC it.

[Anonymous]

I've had my card for 3 years too! And have never been late. Never given an auto cli though, strangely. I wish they would just remove the annual fee. I asked them last year if they could and they said they could only cancel the card and have me file for another one again. It's my first one as well. I don't want it to bring down my credit for knocking off a year or two of history either.

I'm not sure what PC means but I already have a debit and Better Balance (that I always forget to use every 3 months!) Isn't that the only cards they offer? 

Anywho! I'm going to give them a call today. Thanks for all the responses.  You guys are so helpful. 

[Anonymous]

I gave them a call! 

The rep told me that the $39 could not be removed. After I insisted and insisted she finally talked to her manager and was told that I could cancel the card since it only had the $39 fee on the balance and the $39 would be waived or returned back to me. Not sure if they're going to take it out and refund or not take it out at all, I guess we'll see. I canceled the card and reapplied for the 1-2-3 card. The woman kept telling me that it was a better card with the 3% gas, 2% groceries, 1% everything else but the cash reward had it too. Is the cash rewards card different from the 1,2,3 card?? 

Cool thing - My credit limit went from only about 800 on my 3 year old card to $3k on my new card. 3 years and only a $300 credit increase since I asked for it last year lol.

I wish I could  have kept my 2011 history. Will this affect my credit score at all now that it has been canceled and will no longer be a 2011?

I'm so jealous of you wmweeza! If only I received the same letter. I opened mine yesterday only to read from "customer saticfaction" that they were charging me $39 for being such a good loyal customer! =D