I have been advised that if i close my account and still have a balance i will be charged 3.50 a month extra untill my balance is paid.They are greedy!They charged me 29.00 over limit fee because when they added the 89.00 dollar annual fee it put me over my 500.00 credit limit by 3.00.They will not wave the 29.00 even though i went over my credit limit by a mere 3.00
If you can pay off your account within 30 days of the annual fee posting, you can close the account and they'll reverse the annual fee (there HAS to be a zero balance, it's in your cardholder agreement). If you can pay off the card in several months, you still save money closing the card, saving the annual fee, and paying the 3 a month... Before you do any of this, however, call retention and say you want to close the account because of all this crud... see if they'll reverse the annual fee (and maybe the other fee) to keep you... or you could say you'd told them before to close the account (hence the annual fee and otl fee shouldn't have posted)... get those reversed, have the account now closed, and pay it off. of course they're greedy, you are on their subprime side... (so was I). I always got the annual fee reversed after the first year. you have several choices, though. call them and get some of your money back somehow
