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Hi everyone, I am hoping to get some advice from the community here. I have an open CFPB complaint against HSBC. To give a gist, I have one of their credit cards with a hefty annual fee. After nearly a year of using the card, I did not enjoy its rewards and continuing with the card does not make any sense. I requested the bank for a product change and downgrade my card, but HSBC told me that this particular card is not eligible for a product change, and that I must close the card itself and simply apply for a new one. Since closing my card would affect my credit history, I requested HSBC to reconsider my request, but the bank still refused to downgrade the card saying that it was part of the TnC. When I disputed that such a condition for no-product-change was never mentioned in the TnC that I signed, the bank refused to entertain me any further. Following the above situation, I filed a complaint to CFPB. Interestingly, the next day I received a mail in my 'Promotions' folder from HSBC stating that an Arbitration clause is being added to my Terms & Conditions. I promptly went ahead and mailed them a rejection notice. Following this, HSBC has now responded to my CFPB complaint saying that, it needs another 60 days to look into my complaint. At this point, it looks to me that HSBC is simply trying to stall me, so that next month, I get charged the annual fee again (that's when the card completes 1 year). This essentially means that they are free to give whatever resolution they want. And if I close the card before that, the whole point of the CFPB complaint is defeated. Is it checkmate for me, or are there still any options left?

Hi. Anyone ever had any luck offsetting an AMEX annual fee or getting some kind of a retention bonus? I recently called the main line with regard to an annual fee on my BCP, and both the CSR and a supervisor told me that there was nothing they could do or offer me, despite my suggestion that I was seriously considering cancelling or at least downgrading the card to the no-annual-fee version. Just wondering if I should try my luck again with a different CSR or if there is a different number that I should call that would be more successful. As always, any feedback and help is greatly appreciated. Thanks!

Capital One assessed an annual fee on my converted Orchard on 7/19. Through the executive office this fee was waived, and posted to my account on 7/26. In the past this card always reported the balance on the last day of the month, which I had a zero balance at that time. When I pulled USAA today, EQ was updated with a balance showing the annual fee as the balance due. This is bad timing since I usually only let one other card report, and it has already done so, and I need to have my credit pulled in the next week or two. Any possibility that I can get CapOne to update this mid-cycle, or am I stuck with this until next month?

So - Capone wants to charge a $74 annual fee for a bs Orchard conversion. Unfortunately this is my oldest (positive) card. Since the line will remain in my AAOA calculation, it shouldn't hurt me to close it correct? (it has zero balance BTW)

Opened a Public Savings Bank secured card with a $200 deposit back in 2011 as I'd heard good things and planned on adding to the security deposit in hopes it would unsecure. They were taken over/sold to Capital Bank and the card became Open Sky. I received a letter today from Open Sky/Capital Bank stating that my 'anniversary' was coming up and my card would be 'renewed'. It further states there will be a $50 annual fee. I pretty much use this card for gas and PIF every month, so time to pay this off and cut it loose. Oh well. Luckily I have about $600 in new TL from Comenity this month to offset the open credit for util purposes. Wanted to give any others with this card the heads up that this letter will be arriving if you haven't seen it already.