Cap1 transition cards

[ecxpa]

Anyone with a Cap 1 card that transitioned from HSBC/Orchard Bank that they closed and got a better Cap1 card.   I have a total of 5 transitioned cards with 700 to 4.2K limits.  Would actually like to consolodate into a Venture Card but  that is a no go for Cap 1..  Been thinking about just closing all the cards and try to start from scratch with Cap 1.........anybody did anything like this.

[Anonymous]

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@ecxpa wrote:

Anyone with a Cap 1 card that transitioned from HSBC/Orchard Bank that they closed and got a better Cap1 card.   I have a total of 5 transitioned cards with 700 to 4.2K limits.  Would actually like to consolodate into a Venture Card but  that is a no go for Cap 1..  Been thinking about just closing all the cards and try to start from scratch with Cap 1.........anybody did anything like this.

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Do it!

Your scores are absolutely in range to get a decent card and limit from them. Go for a new Venture and go get that spend bonus!

[wacdenney]

Yes...  I had 2 QS1 cards, one of which was former Orchard.  I danced for the EO for over 3 years trying to get them to drop the AFs and work with me on limits.  They actually lied to me and told me it was impossible to remove the AFs.  I really wanted to show some appreciation for the opportunity they had given me but eventually said screw it and closed them both.  2 months later I got a preapproval letter in the mail for a QS Visa with no AF and a higher limit than the 2 QS1's combined. 

My advise would be to close them all and give it about 3 months then apply for and get whatever card you actually want.  Just don't forget to plan for the tripple pull.

[ecxpa]

I think I will ax about 3 of the cards and see what happens.  Not getting any offers from the prequal site........been told its because I have too many cards already.  Tried to discuss this on online chat with Cap1 tonight and couldn't get an answer about the limit on Cap 1 cards. ....... all the person on chat would say is "you can have multiple cards"

[ecxpa]

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@wacdenney wrote:

Yes...  I had 2 QS1 cards, one of which was former Orchard.  I danced for the EO for over 3 years trying to get them to drop the AFs and work with me on limits.  They actually lied to me and told me it was impossible to remove the AFs.  I really wanted to show some appreciation for the opportunity they had given me but eventually said screw it and closed them both.  2 months later I got a preapproval letter in the mail for a QS Visa with no AF and a higher limit than the 2 QS1's combined. 

My advise would be to close them all and give it about 3 months then apply for and get whatever card you actually want.  Just don't forget to plan for the tripple pull.

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I think the AF is why Cap 1 will not combine balances........it is their meat and potatoes.  So it took about 3 mos to get a decent card from them huh........that sounds good.

[Anonymous]

Not so sure it's because of AF's.

[ecxpa]

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@Anonymous wrote:

Not so sure it's because of AF's.

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you are probably right.....they are a successful company.   The annual fees however are a huge generator of income for this company.  They generally won't waive AF and the popular QS1 is tagged with an AF.  I don't know how many of their cards have AF but I see a lot of griping about them on this board.  So maybe the annual fees are not their meat and potatoes but the little cherry on their dessert.

[Anonymous]

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@ecxpa wrote:

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@Anonymous wrote:

Not so sure it's because of AF's.

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you are probably right.....they are a successful company.   The annual fees however are a huge generator of income for this company.  They generally won't waive AF and the popular QS1 is tagged with an AF.  I don't know how many of their cards have AF but I see a lot of griping about them on this board.  So maybe the annual fees are not their meat and potatoes but the little cherry on their dessert.

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They charge the AF to provide excellent customer service.

I actually read that this had been mentioned in Cap1 Chat on a different thread...

I guess saying no to everything takes a special kind of person.

[ecxpa]

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@Anonymous wrote:

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@ecxpa wrote:

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@Anonymous wrote:

Not so sure it's because of AF's.

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you are probably right.....they are a successful company.   The annual fees however are a huge generator of income for this company.  They generally won't waive AF and the popular QS1 is tagged with an AF.  I don't know how many of their cards have AF but I see a lot of griping about them on this board.  So maybe the annual fees are not their meat and potatoes but the little cherry on their dessert.

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They charge the AF to provide excellent customer service.

I actually read that this had been mentioned in Cap1 Chat on a different thread...

I guess saying no to everything takes a special kind of person.

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Excellent customer........yeah right....they read there scripts well

[wacdenney]

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@ecxpa wrote:

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@Anonymous wrote:

Not so sure it's because of AF's.

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you are probably right.....they are a successful company.   The annual fees however are a huge generator of income for this company.  They generally won't waive AF and the popular QS1 is tagged with an AF.  I don't know how many of their cards have AF but I see a lot of griping about them on this board.  So maybe the annual fees are not their meat and potatoes but the little cherry on their dessert.

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There's nothing wrong with AF's in general.  I have several cards that carry AF's like Marriott for example.  The difference is that in most cases AF's are applied where a card provides exceptional benefits.

The exceptional benefit provided by the QS1 is in the granting of credit to a sub-prime borrower.  If you can't get anything else than having the card at all is exceptional to you.  The problem arrises when people move up out of the sub-prime category.  You move and grow, but the card does not.