cancel
Showing results for 
Search instead for 
Did you mean: 

Credit One Cancellation-Annual Fee Question

rlborens
New Member

Credit One Cancellation-Annual Fee Question

I cancelled my $750 CL Credit 1 card a couple weeks ago since I have moved on to better cards. I got my most recent statement and it says the account is closed but it also says "Annual Fee Notice-the annual fee for your Account of $99 will continue to be billed monthly at $8.25 for the coming year."

 

How can they charge me the Annual Fee for a year after I closed the account? How should I handle this to get the fee removed? Thanks for your help.

Message 1 of 7
6 REPLIES 6
Adkins
Super Contributor

Re: Credit One Cancellation-Annual Fee Question


@rlborens wrote:

I cancelled my $750 CL Credit 1 card a couple weeks ago since I have moved on to better cards. I got my most recent statement and it says the account is closed but it also says "Annual Fee Notice-the annual fee for your Account of $99 will continue to be billed monthly at $8.25 for the coming year."

 

How can they charge me the Annual Fee for a year after I closed the account? How should I handle this to get the fee removed? Thanks for your help.


When was your annual fee due? It's usually better to close the card right before it's due, not after. You'll need to check your TOS on the card, to see exactly how the annual fee is billed in terms of renewal. If you closed the account before the annual fee hit, call up customer service and demand it be removed, and have them send a letter that it will be done. (Keep this letter in this year's taxes, in case of later shenanigans.) 



Last HP 09-14-2020



Message 2 of 7
disney2
Regular Contributor

Re: Credit One Cancellation-Annual Fee Question

I closed mine too because of the annual fees.  They send me an email, letter, postcard, etc every week wanting me to reactivate it.  Um, no thanks! 

 

Be sure your account shows closed so they don't charge the fees. If it's closed, they won't charge it.

Message 3 of 7
rlborens
New Member

Re: Credit One Cancellation-Annual Fee Question

That's my question-my statement does show that the account is closed, but underneath that it says the Annual Fee will be billed over the next year.

 

I have been billed $8.25 per month for the fee-will it stop or continue like itsays on the statement? I don't see how they can charge it for a full year if it's closed.

Message 4 of 7
FortifiedHM
Valued Contributor

Re: Credit One Cancellation-Annual Fee Question

can you post a picture of the letter?

ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ᙪ൦ſΛ ८☕ Λlti-ၺ ✈☕թroթⅇl
⛪✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ | ८✙ ┊❡olδ┊ↇᏨ ☕▲B ⍟Ⲙilⅇⴑթ ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⍟wſ -√ ⚕ᙪᙪ८⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙

PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 5 of 7
rlborens
New Member

Re: Credit One Cancellation-Annual Fee Question

It's not a letter-it's on my statement.

 

It says-"Your account is currently closed. Annual Fee Notice-The Annual Fee for your account of $99 will continue to be billed monthly at $8.25 for the upcoming year."

 

Shouldn't the fee stop as soon as I cancelled the account since it's billed monthly?

Message 6 of 7
FortifiedHM
Valued Contributor

Re: Credit One Cancellation-Annual Fee Question


@rlborens wrote:

It's not a letter-it's on my statement.

 

It says-"Your account is currently closed. Annual Fee Notice-The Annual Fee for your account of $99 will continue to be billed monthly at $8.25 for the upcoming year."

 

Shouldn't the fee stop as soon as I cancelled the account since it's billed monthly?


if its two different lines. One says account closed, one says fee being billed. It could just be system glitch and you shouldn't worry.

if its one statement containing 2 sentences, I would call in and ask just to be sure.

 

Personally, I don't see how they can bill you. If they are being unreasonable, take their a** to CFPB and BBB.

ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ᙪ൦ſΛ ८☕ Λlti-ၺ ✈☕թroթⅇl
⛪✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ | ८✙ ┊❡olδ┊ↇᏨ ☕▲B ⍟Ⲙilⅇⴑթ ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⍟wſ -√ ⚕ᙪᙪ८⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙

PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.