From original thread, "If you simply lower your credit line to $1500 (or less) Chase will automatically refund your AF of $395 but you get to keep the card and benefits. This occurs because by law a CC company's AF cannot be more than 25% of the credit line. Lower your CL by SM (don't call) and then do nothing. The fee will be credited to your acct within 5 days. The refund is likely computerized so Chase stays within compliance so again I strongly recommend against calling."
My credit limit is $1,105 so Chase (Ritz Carlton) had previously waived the annual fee. I was just charged $395. Has anybody else noticed this annual fee? Do you think it will be waived later or should I ask Chase to waive it?
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posted: Mar. 3, 2017 @ 10:20a
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posted: Mar. 3, 2017 @ 10:25a
they fixed the loophole on Feb 1 of this year. and since then everyone (incl Me) has been charged the $395 AF. No workarounds to skip the AF anyfurther ... you either keep the card or cancel the card. Because this doesn't apply to 2nd year onwards....
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