HSBC AF question

[Anonymous]

I have a BofA unsecured with no AF and a Sears CC. I recently applied and was approved for a HSBC CC. It has an AF of $79. I was under the assumption that the AF would be charged once I have had the card for 12 billing cycles. Instead, I was charged the AF on the1st billing cycle. Are AF always paid "in advance"? I am a little upset because $79 of my available CL is already gone.

[oracles]

Hi Mklar

Yes the AF is on the first statement.

You will be charge to use the card for  12 months.

This is how the CCC do it.

Hope this helps

[Red1Blue]

Call them and tell them you want to cancel the card due to high AF. They will try to keep you as customer by reducing the AF and/or by increasing the Credit Limit.