CARD Act and Annual Fees Follow-up (Chase)

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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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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....

Yeah, it was only for the first AF.

Thanks. Might try to use all travel credits and then cancel. Have hard time justifying $400 annual fees.

I believe that this should have only worked for the first year.

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