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Regular Contributor
randeman
Posts: 243
Registered: ‎12-13-2012
0

Au revoir Cap One

Based on another thread, I pushed the LUV button on the Cap One site today and got the ten day letter response.  I called them and, as expected, the lady said that she couldn't tell me the reasons for the denial.  I flat out asked her to justify a reason for me to keep this card, explaining that it is my lowest limit card (much less than 10% of my highest) and it has a $19 annual fee, which, admittedly isn't much, but it doesn't seem to offer much in the way of perks to justify even the $19 fee.  She said that if I traveled it has no foreign transaction fee, for example.  I said I could go through the limit in minutes, what the heck good does that do?  I then told her that I guessed that this conversation was more me thinking out loud than anything.  I told her I would be returning their card with a letter and thanks for your time.

 

So, good bye, Cap.  At the risk of this sounding like sour grapes, if they won't work with me, why should I work with them?  The annual fee savings is at least the price of lunch.

Experian Score: 687--Amex 27 July 2014; Equifax Score 698--MyFICO--26 July 2014; TransUnion Score 715-Discover 26 July 2014 PUH-RAISE JESUS, I finally broke 700!!!

Cards and Credit Lines: Escape by Discover, Chase Freedom Signature Visa, Chase United MileagePlus Explorer Signature Visa, Chase Sapphire Preferred Signature Visa, Barclay's Holland America Visa, Citibank Custom Credit Line, Paypal Custom Connect Credit Line, Bloomingdale's, Macy's Premier Elite, Amazon Store Card, Lord & Taylor, Nordstrom, Discover It, and Gold Delta SkyMiles from American Express.
Frequent Contributor
Gibran
Posts: 331
Registered: ‎09-26-2009
0

Re: Au revoir Cap One


randeman wrote:

Based on another thread, I pushed the LUV button on the Cap One site today and got the ten day letter response.  I called them and, as expected, the lady said that she couldn't tell me the reasons for the denial.  I flat out asked her to justify a reason for me to keep this card, explaining that it is my lowest limit card (much less than 10% of my highest) and it has a $19 annual fee, which, admittedly isn't much, but it doesn't seem to offer much in the way of perks to justify even the $19 fee.  She said that if I traveled it has no foreign transaction fee, for example.  I said I could go through the limit in minutes, what the heck good does that do?  I then told her that I guessed that this conversation was more me thinking out loud than anything.  I told her I would be returning their card with a letter and thanks for your time.

 

So, good bye, Cap.  At the risk of this sounding like sour grapes, if they won't work with me, why should I work with them?  The annual fee savings is at least the price of lunch.


Just like you I've beent tempted to close my CO account even though it's one of my oldest, I'm still sitting at $500 CL..I requested a CLI the other day and got the same message, so I sent a letter to the EO and a lady called me 2 days later, asked a few questions like income, how much am I requesting...She said she can understand how $500 isn't much, a hotel alone can cost that much for a week when traveling, she told she would submit for manual review and she would contact me in 3-5 business days, so we'll see how that goes...If they still don't give me a cli then I will probably close my account, I have far more prime cards where I really don't need them..


AMEX Platinum NPSL | AMEX Zync NPSL | AMEX Delta Platinum $4000 | Travelocity Amex $4000 | CapOne No Hassle Rewards $2500 | BBRZ MC $800 | Local CU Visa $1000 | Kay $2000 | Citi Hilton HHonors Reserve $5000 | Chase Marriott Rewards $5000 | BankAmericard Travel Rewards Visa $7000 | Discover IT $1000
In the garden until 10/2014

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