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Valued Contributor
jamesdwi
Posts: 1,947
Registered: ‎09-16-2011
0

Another card bites the Dust

Noticed my BestBuy Reward Zone master card had a $59 balance on it today, looked at recent activity couldn’t really explain it had to look at the most recent statement where they had hid it in the totals statement “Card Fees: $59”, while looking for the fees I also noticed that my APR went up   So I called the Customer Service and got “Peggy” I guess it’s really official CapOne really does own the account. When they asked why I wanted to close my account I said the increase in interest rate and the annual fee, he tried to transfer me to account retention department but he came back in a minute later saying the department must be closed or extremely busy, it was 9:30 am central time and the corporate address is in IL, which is the same time zone they were open and just extremely busy, seems that the CapOne customer service is out doing themselves and losing customers hand over fist. And the agent didn’t even try on his own to keep me as a customer, dropping the fee I would of thought about staying and a CLI would all but guaranteed me staying as a customer.  

 

After 2 years of faithful on time payments and very heavy use at times up to and including using 2x of my CL in a single month with multiple payments every month for months on end, since I got my AMEX cards and Chase freedom the card sits mostly in the sock drawer except for a few trips to restaurants in the restaurant reward zone program every month or so. No late payments on any credit card accounts in the last 4+ years they still don’t value me as a customer with a CLI, only had one in the last 2 years from 300 to 600. I guess I am not there targeted demographic, I don’t rack up enough fee’s or allow them to charge me 25% interest on my purchases. And because the reward zone program is not directly linked to my reward points, I can choose to use whenever I want.

 

So now they get to sit on my CR report in perfect shape for the next 10 years building my score.  Perhaps in a year or two I may shop at BestBuy again, if they don’t end up like Circuit City by then. At that point they should be begging me to take the “Store card” something they should already be upgrading if they cared about BestBuy sales.

 

Another card bites the Dust: AMEX blue 6k, Amex Zync NPSL, Chase Freedom 3k, Walmart 1k, Target (don’t ask)

 

Sock drawer:  Citi Home Depot: 4k ,  Tiger Direct preferred 4k, Amazon store card 2.2k, Capone 2k, Capone rewards  750, and a few other store cards

 

TL’s closed this year with perfect payment History: Auto Loan, HSBC Sears, Rewardzone MC.

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Established Contributor
TNTransplant
Posts: 772
Registered: ‎01-03-2012
0

Re: Another card bites the Dust

Good for you. :smileyhappy: 

 

With your current cards, you didn't need it anyway.


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Regular Contributor
psychoinhell
Posts: 565
Registered: ‎06-12-2010
0

Re: Another card bites the Dust

If you ever want something from Best Buy again and take advantage of their 0%, be sure to ask for the store card and not the MC card.  The store card will have no AF, still have high interest, but you can use it for the 0% offer.  I will probably one day buy something big from Best Buy, but when I fill out the app I will ask specifically for the store card and if they try to give me more I will walk.  Hell I will even try to dispute the hard pull that results from it, my argument will be that they tried to force upon me a card that I did not apply for.  Not sure how that will work out, but Cap1 will get no AF from me.


Starting Score: 600ish in 2007
Highest Score to date: EQ 716 May 2012(lender pull)
Current Score: EQ 685 6-21-12 ; Walmart TU Fico 744 6-05-12
Goal Score: 801
Established Contributor
FloridaState12
Posts: 614
Registered: ‎08-24-2011
0

Re: Another card bites the Dust

I say good riddance to Cap1! 

 

I just closed two accounts with them for the same reason (not waiving AF), but my AF was only $19! 

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Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Another card bites the Dust

I just really question their CS. Seriously. They *are* losing customers. For every one post on this forum, there are probably many more who don't post. Maybe their CEO ought to read the myFICO forum! :smileyhappy:

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Established Contributor
pipeguy
Posts: 796
Registered: ‎10-31-2011
0

Re: Another card bites the Dust


jamesdwi wrote:

...

 

After 2 years of faithful on time payments and very heavy use at times up to and including using 2x of my CL in a single month with multiple payments every month for months on end, since I got my AMEX cards and Chase freedom the card sits mostly in the sock drawer except for a few trips to restaurants in the restaurant reward zone program every month or so. No late payments on any credit card accounts in the last 4+ years they still don’t value me as a customer with a CLI, only had one in the last 2 years from 300 to 600. I guess I am not there targeted demographic, I don’t rack up enough fee’s or allow them to charge me 25% interest on my purchases. And because the reward zone program is not directly linked to my reward points, I can choose to use whenever I want.

 


You were not using the card anyway and to the issuer you no longer show "heavy usage" so both sides of this issue decided they had out grown each other, card closed no big deal for either side IMO - especially for a very "basic" card.

*** Remember the Tallyman because he sure remembers you ***
Valued Contributor
clocktick
Posts: 1,603
Registered: ‎12-07-2008
0

Re: Another card bites the Dust

^^^

Agreed.  It's our right to close any card we want to whether or not they waive an AF.  I never expect it, just hope it (kind of like hoping for a SP CLI vs. a HP).  I'm willing to bet they receive several calls per day from people not wanting to pay the AF.  I wonder what their customer loss vs. new customer rate is - that would be interesting.  I really don't see what the big deal is - it's in their terms and conditions when we apply.

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


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Established Contributor
FloridaState12
Posts: 614
Registered: ‎08-24-2011
0

Re: Another card bites the Dust

[ Edited ]

clocktick wrote:

^^^

Agreed.  It's our right to close any card we want to whether or not they waive an AF.  I never expect it, just hope it (kind of like hoping for a SP CLI vs. a HP).  I'm willing to bet they receive several calls per day from people not wanting to pay the AF.  I wonder what their customer loss vs. new customer rate is - that would be interesting.  I really don't see what the big deal is - it's in their terms and conditions when we apply.


My biggest thing was that I called months in advance and they said they couldn't waive it now, but when it was charged they would waive it if I called back. Then I call back and they say nope sorry, and I say well I'm not. GOODBYE!

 

It's just poor business practice, IMO, that they'd rather lose two accounts than waive a $19 fee that they have to waive anyway now that I cancelled the account. It makes no sense to me. 

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Regular Contributor
psychoinhell
Posts: 565
Registered: ‎06-12-2010
0

Re: Another card bites the Dust

FSU12,

 

I cannot argue with your logic.  Last year I was going to close my Cap1 rewards account, it had sat at 750 for years.  Then they suddenly jumped it to 3750 the same month they billed me the AF.  So I kept it.  When they gave me the CLI it became my highest CL, so I paid the $39.  This year my Cap1 MC Plat is on the chopping block when the AF comes due, if they do not give me another massive increase that card is so gone.  I am not sure I can even justify keeping either of the cards anymore.  I do not see either card surpassing my new high CL from Citi.  Rewards, I will pay the AF at least one more time.  Even though the card has been put in the SD now.  Plat is waiting for the axe to fall and I am sharpening it the whole summer :smileyhappy:


Starting Score: 600ish in 2007
Highest Score to date: EQ 716 May 2012(lender pull)
Current Score: EQ 685 6-21-12 ; Walmart TU Fico 744 6-05-12
Goal Score: 801
Established Contributor
lithium78
Posts: 930
Registered: ‎07-30-2011
0

Re: Another card bites the Dust

I closed my BBRZ MC yesterday after they declined to waive the $59 annual fee.  I rarely used the card anyway, since I have prime cards now, so it's no big loss.  It was my lowest limit ($900) and it hadn't grown in a couple of years.  It's nice to have the option to dump them.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

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