No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Honestly, I would close it anyway.
@Anonymous wrote:
I have a Cap One Quicksilver One that was upgraded from Platinum Visa but it still has a $60 annual fee that they charge each month at $5. I never use this card. 0 balance. It has a $500 limit.
The problem is that the $5 is charged the day the statement cuts and so $5 is always reported to the bureaus. I can't set up autopay because there's no balance. How can I pay this so $5 doesn't report every month? Paying it the same day doesn't stop $5 from being reported.
This is my oldest cc or I would close it. Anyone find a workaround for this?
Have you tried to reach out to the EO to see if it can be permanently waived?. I wouldn't advice you closing it since it is your oldest account although it stays on your report for 10 years after it is closed.
Have you tried over-paying one month by $5 or $10? So that your balance would be negative?
@Anonymous wrote:
Thanks. I never get any EO love. Need to figure out how to deal with this $5 monthly fee assuming I can't get it waived. Oy.
Try changing your payment due date. This sounds like a card that morphed from HSBC/Orchard bank......hard to get anything changed from my personal experience. Even though that may rename it a QS1 or something the T&C from the original issuer doesn't change because it often benefits Cap 1. I don't know of a Cap1 card that has a $60 AF but I had one that was a HSBC/Orchard Bank. My highest Cap1 CL is 4200 renamed as a Venture One with no AF but the freaking APR is 28.9%........this is higher than the highest limit advertised for the genuine Venture One..........it rests quietly in the SD with an ax looming over it that may fall at anytime
I find CapOne's online chat to be very helpful. After having my Quicksilver One card for 12 months, I chatted with the rep and asked if the annual fee could be waived in year two (I fibbed a bit and told them I just received a pre-qual offer from Chase for Freedom with no AF) and they PC'd me to the regular QS without an AF all through the chat session in about 5 minutes.
60 bucks is a little excessive if you are not using the card and getting no rewards to mitigate that fee. I agree with everyone else. Get on chat and see if they are willing to eliminate the fee or close the account.