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Written by: yanira on 2007-09-07

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yanira's review: Callout Comment I don't want to say anything negative about the card because I only have had it for about a month. However, when I saw my bill, they had charged me an annual fee of $79.50. I'm sure that little fact was somewhere in the small print, but I didn't expect it and also I think it's pretty high. My only concern is negative ramifications for canceling. Can anyone think of a reason why I shouldn't cancel this card?


Comment 1 by brammy
Re Yanira User Icon on 2007-09-09

Remarks Since you have already taken the hit for the card, if you choose to close it, give them a call and explain that you are thinking of closing it due to the annual fee. They may wave it fora year and you can get the history for that long and improve your score. I have done it and it worked with this same card. Luckily, mine was only 39.00 though I don't do AF cards as a rule. It will be clsoed at the next AF though, if they haven't decided to remove tht little feature. I don't even use it that often and PIF every month.

BTW do you mind me asking what your llimit was. I was peeved at the small 500.00 limit until I realized that I have almost 10K from HSBC total
Comment 2 by yanira
Re: Brammy User Icon on 2007-09-09

Remarks They gave me a 1,500 limit. I really don't have any problems with the card except the fact that they hit me with a 79.00 annual fee. I think that's kind of high. I also called and told her I would cancel but the representative wouldn't budge. Also they haven't reported the card to the bureaus yet. She told me they would at the end of September.
Comment 3 by brammy
Re Yanira User Icon on 2007-09-09

Remarks Weird, even with the tiny limit they gave me, the annual fee was smaller and they waived the AF. Maybe the limit was tiny due to all the outstanding credit I have with them now. Who knows. Sorry they didn't waive it but if you plan on keeping it at least kee it for a year, next year they may be a little more lenient.
Comment 4 by meya
RE: Yanira User Icon on 2007-09-10

Remarks I say keep it. You was approved for a card that a lot of individuals were denied for. You will just learn next time to read the small print... Lol. By the way, if you over-looked this cards annual fee, go back and take a look over the rest to make sure that they don't have one either. I don't think the $79.00 is all that bad becasue some AMEX cards have 99.00 fees. Roll with the card to get some inside experiences, you might end up liking the card after all. Hope this helps!
Comment 5 by meya
{{[FOR CREDIT ADDICTS ONLY}}}}} User Icon on 2007-09-12

Remarks Hello my fellow credit addicts. We have come to the point in our financial life to where inquires have made our credit reports stand taller than us. Lord forbid if I had requested my credit report by mail, the poor postman would have to deliver it with a crane due to all the inquiries I have. I have a good suggestion for us, which is totally up to you, I think we should lock ourselves from applying by putting locks and chains on our files. It would not prevent our current creditors from looking inside to see how well we are doing with other creditors so that they May offer us a limit increase, but it will allow us to enroll into a credit rehab... Lol. I am so addicted until I have 43 inquiries from 9/12/2005 to 9/12/2007. This is ridiculous, I am sitting here laughing at myself because I have became soo happy with approvals to becoming rejected due to too many new account and inquiries. Well it is not the pain of rejection due to damaged credit, but I have set myself back to a new route of damaged credit by applying for too many new credit cards. Well I am stopping as of this week, IT'S DEBORAH'S FAULT! SHE DID THIS TO ME... LMAO Just kidding, I tried to follow in her footsteps for Discover and was slapped in the face with a 2 by 4 (Rejected). I will go first everyone, and I will let you all know what happened after the lock went into effect. I am going to do this for 2 years which is when my inquiries will go away and my last baddies falls off. Here is a link that will give you better info about it. It was posted on MSN so I believe it is very legitimate, plus I have read about others doing the same... Http://articles.moneycentral.msn.com/Banking/FinancialPrivacy/LockAwayYourCreditFromIDThieves.aspx
Comment 6 by rockin35
Credit Card Rehab User Icon on 2008-04-01

Remarks Hi Meya,

Your comments are so true. The link was so helpful. I too plan to enter a "Credit Card Rehab" this month. I have applied for 38 accounts in the last 2 years and the vast majority were approved. The only reason I was denied was "Too Many Revolving" accounts, nothing else. So in an effort to rid my report of so many inquiries, I made a vow to myself for the next 26 months I will allow all of my inquiries to roll off before I can even think of applying for anything else.

Good Day!! Sheila
Comment 7 by meya
RE:Rockin35 User Icon on 2008-04-02

Remarks Check your message box, I will send you an invite.
Comment 8 by lyyssa01
Meya... User Icon on 2008-04-02

Remarks Can I get an invite, too?? :)
Comment 9 by meya
Sure User Icon on 2008-04-02

Remarks Sending it now!...:)
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