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

Cap1..Unbelievable!

So I called Cap1 a few months ago about getting my $19 AF waived. The rep (via the backdoor number) said that was no problem and to just call back once the fee gets charged and they'll waive it, no problem.

 

Well, the fee was charged a few days ago so I called today to have it waived. The lady told me "oh, I'm sorry, but we're currently not offering to waive the fee" or something of the like. So I said "okay, well can you transfer me to someone who can close this account?" originally as a bluff, but she said she could do it. And without hesitation she closed the account! I was shocked that she didn't even try to keep me as a customer, all over $19.


After this I was peeved, and told her to close out my other account as well. Again, no hesitation. I figured if they don't value me as a customer then I'm not going to give them any business. I told myself I'd always be a Cap1 customer after they gave me my first card, but no more. To hell with them. I will never again do business with Capital One.

 

Amazing that they would rather lose two accounts and a customer than waive a $19 fee. 

 

Oh and here's the kicker: she informed me that the $19 fee, since it's within 30 days, will be credited back to my account once the account closes!

 

Never again.

 

/rant off

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Regular Contributor
Posts: 565
Registered: ‎06-12-2010
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Re: Cap1..Unbelievable!

That is by law though.  You have 30 days after the fee is charged to close your account and cancel out the AF.  I am sure if that was not the law that Cap1 would want that last $19 from you.


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
Posts: 608
Registered: ‎02-02-2012
0

Re: Cap1..Unbelievable!

[ Edited ]

They could also argue that paying a measly $19 annual fee is worth keeping an active tradeline reporting and also giving you more available credit. That's just my opinion though. If it were a higher AF, say $39, or $59, I could see getting a bit frustrated. But it's only $19. 

 

Again, only my opinion and currently I don't have cards with an AF. 

 

Also, some of the Amex Zync approvals I have seen are limited to a $200 hard limit AS WELL as a $25 annual fee. Although, I never see them complaining. Wierd. Must be the stigma if having a American Express over a Capital One card.

 

Why not apply for a Journey card or somemthing that doesn't have an annual fee, then closing this card?

Regular Contributor
Posts: 183
Registered: ‎05-18-2012
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Re: Cap1..Unbelievable!


logan_720 wrote:

They could also argue that paying a measly $19 annual fee is worth keeping an active tradeline reporting and also giving you more available credit. That's just my opinion though. If it were a higher AF, say $39, or $59, I could see getting a bit frustrated. But it's only $19. 

 

Again, only my opinion and currently I don't have cards with an AF. 


The account is going to report 10 or more years regardless.  The OP did the right thing by closing it. 

Let's Go Heat!! Vamos Heat!
Established Contributor
Posts: 614
Registered: ‎08-24-2011
0

Re: Cap1..Unbelievable!


logan_720 wrote:

They could also argue that paying a measly $19 annual fee is worth keeping an active tradeline reporting and also giving you more available credit. That's just my opinion though. If it were a higher AF, say $39, or $59, I could see getting a bit frustrated. But it's only $19. 

 

Again, only my opinion and currently I don't have cards with an AF. 


Thing is, I don't even need the account. It has a measly $500 limit that will most likely never go anywhere. Same with the other account. 

 

It's simply not worth it, in my opinion, to stay with a company who would rather lose two accounts than waive a $19 fee. I'll take the hit in available credit. It's the principle of the matter. 

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Established Contributor
Posts: 614
Registered: ‎08-24-2011
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Re: Cap1..Unbelievable!


psychoinhell wrote:

That is by law though.  You have 30 days after the fee is charged to close your account and cancel out the AF.  I am sure if that was not the law that Cap1 would want that last $19 from you.


I was not aware that it was the law. 

 

But still, she knew by closing my account they would have to waive that fee...so instead of just waiving it and keeping a loyal customer, she decided to to lose 2 accounts and a customer for life.

 

Their loss.

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Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
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Re: Cap1..Unbelievable!

Your experience sounds just like mine! I called before my year was up to get the upcoming $39 af waived. They said that they couldn't waive it before it was charged, but after it was charged, I could call and ask them to waive it. Of course, there's no guarantee they'd do that.

 

I actually called several times to see if they'd waive the fee and threatened to cancel each time. Just like with you, they were completely anxious to close the acct and unwilling to waive the fee. Finally the last time, I just told them to close it.

 

ITA about feeling not valued as a customer. They would rather close my acct than waive the fee and keep me as a customer. Fine, I'm better off without them.

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
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
Posts: 614
Registered: ‎08-24-2011
0

Re: Cap1..Unbelievable!


bichonmom wrote:

Your experience sounds just like mine! I called before my year was up to get the upcoming $39 af waived. They said that they couldn't waive it before it was charged, but after it was charged, I could call and ask them to waive it. Of course, there's no guarantee they'd do that.

 

I actually called several times to see if they'd waive the fee and threatened to cancel each time. Just like with you, they were completely anxious to close the acct and unwilling to waive the fee. Finally the last time, I just told them to close it.

 

ITA about feeling not valued as a customer. They would rather close my acct than waive the fee and keep me as a customer. Fine, I'm better off without them.


Unbelievable! They must be trying to shed some accounts or something. 

 

I was floored when she didn't even try to convince me...you'd think they'd go into some spiel about how great the card is and blah blah to convince me otherwise, but nope.  After that I told her to close my second account that doesn't even have an annual fee (MTV card) and still, no hesitation.

 

I'm so glad to be done with subprime companies. 

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Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
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Re: Cap1..Unbelievable!

I know. From what I had read here, I kind of didn't expect them to try and persuade me, but still, I was hoping they would. No CLI, no AF waved, more than happy to close the acct. Smiley Indifferent

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
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
Posts: 614
Registered: ‎08-24-2011
0

Re: Cap1..Unbelievable!


bichonmom wrote:

I know. From what I had read here, I kind of didn't expect them to try and persuade me, but still, I was hoping they would. No CLI, no AF waved, more than happy to close the acct. Smiley Indifferent


I called last year to request a CLI and it was of course denied, but they guy tried to hype up the cards about how great they are to try and make me feel better, I guess. I was thinking something similar would happen. 

 

I was tempted to ask for their retention department, but I figured screw it, I don't need them anyway.

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