#$%&*^ !!!! Bank Of America Annual Fee

[Anonymous]

I've had my BOA card for 6 yrs w/$6000 CL with 0 balance and all of the sudden they hit me with $59 annual fee (no annual fee since). I rarely use this card and only kept it since it has a long history. I have 4 other cards with twice the CL and same amount of history or longer. I'm thinking about closing this account and wonder how it would affect my score (last I checked @745). I'm so pissed right now that I have to pay the fee and close the account

[Anonymous]

#1: I had the same thing happen. I tried to dispute the fee, no dice. They said it was a result of my credit score, amount of time with the card, and other crap. Even though I had the card for 9 years, perfect payment history, 700+.

#2: Don't close it right AFTER you pay the fee. Just do what I'm doing, SD for the next 10-11 months and then close it before the next annual fee. You paid for it, might as well keep it an extra year.

#3: Closing it within the next few months won't hurt you unless you were using that line for overall utilization and you were carrying a balance. Otherwise, it wouldn't come off your CR until 10 years from close date.

#4: The fee blows. I would have closed it sooner if it weren't for the fact it's my largest CL by far.

[adavis425]

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@Anonymous wrote:

I've had my BOA card for 6 yrs w/$6000 CL with 0 balance and all of the sudden they hit me with $59 annual fee@ (no annual fee since). I rarely use this card and only kept it since it has a long history. I have 4 other cards with twice the CL and same amount of history or longer. I'm thinking about closing this account and wonder how it would affect my score (last I checked @745). I'm so pissed right now that I have to pay the fee and close the account

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You know, I simply don't understand how BoA stays in business. I have NEVER heard a single redeeming thing about them. Never! I was a customer some years back and even then the service was severely lacking. I left and never looked back.

Were you notified in writing of the account change?  Additionally, were you to call about this foolishness, you would likely encounter a rude, indifferent CSR. You have every reason to be po'd. It's not even the money, simply the fact that they conduct business in such a manner. I say move on. Look for a CU. They usually rock. My $.02 anyway. Good luck.

[Anonymous]

They hit you with a fee with a 745 credit score! I would be pi$$ed as well. I'm blown away by how the boa constrictor has been around this long seeing how they treat great customers. Unbelievable.

TBC 

[Anonymous]

Yep. They hit you with a fee regardless.

I paid mine because they gave me no choice and I didn't want to lose the 16K.

Screw them by February 2013. They can take my $59 now, but I'll be taking my business elsewhere.

That's why I hate BoA by FAR, and their phone CS is the worst.

[Anonymous]

@ Rican, good idea on paying the fee and close the account before the next annual fee but need to remind myself to close by then. I still feel like calling them and vent out my frustration just to feel better

@adavis, yes I received a letter last week but didnt know it goes into effect immediately

[Anonymous]

If it was $9.99 annual fee, I wouldnt feel too bad BUT $59 is a ROBBERY>>>>

[adavis425]

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@Anonymous wrote:

@ Rican, good idea on paying the fee and close the account before the next annual fee but need to remind myself to close by then. I still feel like calling them and vent out my frustration just to feel better

@Anonymous, yes I received a letter last week but didnt know it goes into effect immediately

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I definitely would!

[Anonymous]

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@Anonymous wrote:

If it was $9.99 annual fee, I wouldnt feel too bad BUT $59 is a ROBBERY>>>>

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Are you sure your card does not say ORCHARD BANK on the front! 59.00

TBC

[john398]

Well if you rarely use the card and have no balance BOFA is not making money off you I bet