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Tomo Participation fee?

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captainsensation
Regular Contributor

Tomo Participation fee?

E02881A8-5CF6-4239-A9AB-B1DFCAFB7C07.jpeg


so they now want to take almost $3.00 to use the card each time. Might as well be an annual fee. Unless this is explained differently from how I view it I'm going to cancel. What do you guys think?

AMEX Bread Cash Back: 12k, PenFed PCR: 17.5K, PenFed Gold: 10K, FNBO: 5.6K, CapOne Venture: 5.5K. Chase Amazon: 3K, Gamestop 3k, Best Egg, 2.5K, GM Rewards 2K, Apple Card 2.8K, Tomo 1K, American Express 19.5K (AU), Ally 1.8K AMEX BCP 1K
Message 1 of 9
8 REPLIES 8
K-in-Boston
Credit Mentor

Re: Tomo Participation fee?


@captainsensation wrote:

E02881A8-5CF6-4239-A9AB-B1DFCAFB7C07.jpeg


... What do you guys think?


I think either the image is way too small to be legible, or I need to make an optometry appointment stat.  But if my ability to translate the blurriness is working, it looks like $2.99 monthly rather than "each time?"

Message 2 of 9
Jnbmom
Credit Mentor

Re: Tomo Participation fee?


@K-in-Boston wrote:

@captainsensation wrote:

E02881A8-5CF6-4239-A9AB-B1DFCAFB7C07.jpeg


... What do you guys think?


I think either the image is way too small to be legible, or I need to make an optometry appointment stat.  But if my ability to translate the blurriness is working, it looks like $2.99 monthly rather than "each time?"


@K-in-Boston 😂😂

 

@captainsensation  I think you should take the advice from your previous Tomo thread and close this account .

EXP 780 EQ 791TU 795
Message 3 of 9
Larrypatty
Valued Member

Re: Tomo Participation fee?

 Just got the email. $2.99 a month participation fee starting may 2nd. Good bye worthless card.

Message 4 of 9
captainsensation
Regular Contributor

Re: Tomo Participation fee?

Sorry, I had to shrink the image to share it and this is my first thread I've made. I'm sorry I missed an existing thread if there is one. I was outraged when I got this email.

AMEX Bread Cash Back: 12k, PenFed PCR: 17.5K, PenFed Gold: 10K, FNBO: 5.6K, CapOne Venture: 5.5K. Chase Amazon: 3K, Gamestop 3k, Best Egg, 2.5K, GM Rewards 2K, Apple Card 2.8K, Tomo 1K, American Express 19.5K (AU), Ally 1.8K AMEX BCP 1K
Message 5 of 9
K-in-Boston
Credit Mentor

Re: Tomo Participation fee?


@captainsensation wrote:

Sorry, I had to shrink the image to share it and this is my first thread I've made. I'm sorry I missed an existing thread if there is one. I was outraged when I got this email.


No problem.   (It's sometimes easier to just crop the image to the relevant portion or to host it third party if running into issues with file size here.)  That does seem like a $35.88 annual fee under a different name.

Message 6 of 9
OmarGB9
Community Leader
Super Contributor

Re: Tomo Participation fee?


@K-in-Boston wrote:

@captainsensation wrote:

Sorry, I had to shrink the image to share it and this is my first thread I've made. I'm sorry I missed an existing thread if there is one. I was outraged when I got this email.


No problem.   (It's sometimes easier to just crop the image to the relevant portion or to host it third party if running into issues with file size here.)  That does seem like a $35.88 annual fee under a different name.


lol "participation fee." That's a new one. Smiley Very Happy


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 7 of 9
Jeffster1
Valued Contributor

Re: Tomo Participation fee?


@captainsensation wrote:

E02881A8-5CF6-4239-A9AB-B1DFCAFB7C07.jpeg


so they now want to take almost $3.00 to use the card each time. Might as well be an annual fee. Unless this is explained differently from how I view it I'm going to cancel. What do you guys think?


Image is illegible.

FICO 8 (3/1/24) EX 805 EQ 824 TU 844
FICO 9 (2/17/24) EX 821 EQ 778TU 850
I practice AZEO - NEVER above 1% utilization across all cards.

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 11K | American Express Blue Cash Preferred 10K I American Express Marriott Bonvoy Bevy 5K I American Express Hilton Honors Surpass 3K I Bank of America Customized Cash Rewards Visa 20K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 15K | NFCU CashRewards Visa 15K I Citi Best Buy Visa 10K I Macy’s Amex 1.5K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I
Message 8 of 9
IcyCool7227
Regular Contributor

Re: Tomo Participation fee?

I'm glad I saw this....this wasn't even highlighted in the email sent out. It was part of the embedded updated terms & conditions - no big advertisement whatsoever. I already disliked having this card so after the last payment clears and my rewards credit.......bye bye Tomo! I think I will also email them my displeasure with not just this but everything else that has happened. I never even got a credit increase. No way is it worth paying a $2.99 monthly fee all for a measly 1% cashback that can't even be stacked by paying via debit card or even thorugh BillPay with a debit rewards card.

As of: 2/6/24:

EQ: 778 (prev. 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 755 (prev. 753 on 1/26/34 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 748 (prev. 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $1,200
- Discover it Cashback: $1,000
- Kohl’s Charge: $3,000
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
- Zolve: Shows up but have not set up yet as no money has been put on the account.
Message 9 of 9
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