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Capital One AF

Regular Contributor

Capital One AF

So after my recently little app spree I've decided to axe a few of the cards with AFs - this being one of them.  Has anyone had any experience with Capital One waiving the fee for good to keep them as a customer?  This is the month where I'm rebilled and want to cancel before it they do.  I've had this account since 1999 and only one measly $50 CLI.  


Starting Score: TU: 663 EQ: 632 EX: ?
Current Score: TU: 721 (12/02/12) EQ: 704 (12/2012 via SW) EX: 712 (11/19/12 via Amex)
Goal Score: 700 (ALL)


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Message 1 of 25
24 REPLIES
Senior Contributor

Re: Capital One AF

I'd like to know the as well. I plan on trying to get them to waive AF in March - otherwise I will close acct.
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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!

Message 2 of 25
Established Contributor

Re: Capital One AF

Others will pitch in, but my knowledge of Cap 1 rebuilder cards would suggest otherwise. It's probably a good idea to close the card and perhaps apply for one of their prime cards when you have the right score.

SevenNEW, Garden Nerd - In the Garden until 2015!
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Message 3 of 25
Regular Contributor

Re: Capital One AF

I recently closed my Cap 1 secured card this week. When I called I gave the primary reason as the AF. They tried to talk me into keeping it for internet purchases etc. But they never even offered to waive or reduce the AF.

Message 4 of 25
Established Member

Re: Capital One AF

I also closed my Capital One Platinum MC this week because they refused to waive the $39 annual fee. I started with customer service and was transferred to a senior account analyst but was unable to get it waived.

 

I've had my account since 2007 with a $750 cl...it's never moved. When I originally applied for the card I was ok with the annual fee as the interest rate on the card was pretty decent at 13.9% and I used to always carry a balance. However, I've since changed my credit card spending habits and almost always pay in full unless I am taking advantage of a 0% rate.

 

They tried to convince me to keep it...their story is the annual fee helps pay for the card benefits like no foreign transaction fees. I told them I don't tend to use it for that reason and haven't used it in months because they are my second to lowest credit lines. They made no offer to increase the credit line or waive the fee so I closed it.

 

It wasn't my oldest credit line and it didn't have a balance...and, having such a low cl, it didn't have much of an affect on my overall utilization. I'm done with Capital One. I want to give my business to cc companies that want my business and treat me as such.

Message 5 of 25
Established Contributor

Re: Capital One AF

I have two Cap1 cards both with $39 AF's. Unfortunately my oldest one is capped out at $500, while my newest one will reach $750 with the credit steps program. So I'd dont want to close my oldest one, but I won't want to wave my newest one because the CL is a little higher. Foiled!!!

 

Once I get my Chase Freedom this summer, I'll probably ax the newest one. Not paying two $39 AF's for two crappy cards!

Transunion: 713 FICO (5/13/2014) MyFico
Experian: 789 FICO (4/10/12) Lender Pull
Equifax: 695 FICO (1/10/14) MyFico

My cards: Chase United Mileage Plus 7000CL (3/12), CITI Simplicity 1800CL (9/12), Cap1 Platinum 1000CL (2/10), Cap1 Cash back 1500CL (11/11), Apple Barclay's 2500CL (11/11), Discover IT 6000CL (5/13)

My Primary Financial Goal is to put down my utl%.



Message 6 of 25
Frequent Contributor

Re: Capital One AF

Once I eventually get their Venture card I plan on cancelling my Platinum MC with the $39 annual fee. I will tell them the reason I am cancelling is because I am only going to use the Venture card, I wonder if they will still try to convince me to keep the other card as well? Smiley Very Happy

 

I have never had to cancel a card before but it seems like companies try to be pretty convincing to get you to keep the card.

FICO Scores: TU: 768 (Jan 2012), EQ: 755 (Jan 2012 Lender pull)
Message 7 of 25
Established Member

Re: Capital One AF


crazysxycool wrote:

So after my recently little app spree I've decided to axe a few of the cards with AFs - this being one of them.  Has anyone had any experience with Capital One waiving the fee for good to keep them as a customer?  This is the month where I'm rebilled and want to cancel before it they do.  I've had this account since 1999 and only one measly $50 CLI.  


Also want to mention...I called the month before they billed the AF to attempt to get it waived and they told me I had to wait until it had been billed. If I would have known they wouldn't waive the fee I would have closed my account before they billed it so there wouldn't have been a reported balance on my credit report.

Message 8 of 25
Senior Contributor

Re: Capital One AF

Well, I expect I'll be saying hasta la vista to my Cap One w/AF. Smiley Surprised

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
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!

Message 9 of 25
Valued Contributor

Re: Capital One AF


Dadaluma83 wrote:

Once I eventually get their Venture card I plan on cancelling my Platinum MC with the $39 annual fee. I will tell them the reason I am cancelling is because I am only going to use the Venture card, I wonder if they will still try to convince me to keep the other card as well? Smiley Very Happy

 

I have never had to cancel a card before but it seems like companies try to be pretty convincing to get you to keep the card.


That's what they did to me.  I had 2 platinum MCs.  They upgraded one to a VentureOne card and left the other one alone.  I called to cancel the one they left alone and mentioned the VentureOne rewards as the reason for closing.  

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 10 of 25