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Capital One Platinum w/ Fee = Keep?

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Anomalous
Senior Contributor

Re: Capital One Platinum w/ Fee = Keep?

You can try to PC it to a Quicksilver/Quicksilver One and use the cash back to pay for the annual fee. Just an alternative to closing an older account. 

Keep both your credit and your body in top shape!

Message 11 of 22
Anonymous
Not applicable

Re: Capital One Platinum w/ Fee = Keep?

Yeah, thinking the same thing!  I did get my Amex to report from way back when.  Should do it tomorrow!  Nixon's right!  We need too!  I've taken all of the experts advice on here & it has paid off quite well. Smiley Wink

Message 12 of 22
Anonymous
Not applicable

Re: Capital One Platinum w/ Fee = Keep?


@Anomalous wrote:

You can try to PC it to a Quicksilver/Quicksilver One and use the cash back to pay for the annual fee. Just an alternative to closing an older account. 


Perhaps. But it seems clear that the creditor doesn't really feel like losing that AF. No sense in giving business to a company that doesn't want to play ball in such a competitive market.

Message 13 of 22
MarineVietVet
Moderator Emeritus

Re: Capital One Platinum w/ Fee = Keep?


@Anonymous wrote:

I still have my crappy First Premier cards!  I'm afraid to close them.  Not sure what your score does when you close accounts?  I need to close 4 of them but too chicken.  Your age of accounts matters quite a bit.  But getting stuck with the AF sucks.  


Read here about Closing Credit Cards.

Message 14 of 22
Anomalous
Senior Contributor

Re: Capital One Platinum w/ Fee = Keep?


@CraigHwk wrote:

Perhaps I need to be more persistent.  I called them 2 weeks ago for a PC but was told there were no offers.  (I then applied and got the QS).  Today they made it seem like since it was an aquisition card, it is not eligible for any sort of PC or changes.  

 

And I am with you, Sandbeach.


Not true. I had the same card and PC'd it.

Keep both your credit and your body in top shape!

Message 15 of 22
Anomalous
Senior Contributor

Re: Capital One Platinum w/ Fee = Keep?


@Anonymous wrote:

@Anomalous wrote:

You can try to PC it to a Quicksilver/Quicksilver One and use the cash back to pay for the annual fee. Just an alternative to closing an older account. 


Perhaps. But it seems clear that the creditor doesn't really feel like losing that AF. No sense in giving business to a company that doesn't want to play ball in such a competitive market.



True in this case.

Keep both your credit and your body in top shape!

Message 16 of 22
CraigHwk
Regular Contributor

Re: Capital One Platinum w/ Fee = Keep?


@Anomalous wrote:
Not true. I had the same card and PC'd it.

Good to hear.  When I tried to PC it a couple weeks ago, they said to try back in 30 days to see if there's any available then.  They didn't seem to dig as deep into my account as they did today, so who knows.  Maybe I'll try back then and see what happens.  

USAA MC ✪ Amex BCP, SPG, Platinum ✪ Chase Sapphire Preferred, Freedom, Freedom Unlimited, Marriott Rewards, United Explorer ✪ Discover IT ✪ CapOne QS ✪ Fidelity Visa ✪ BarclaysPlatinum Rewards ✪ Citi Double Cash


Starting EX FICO (2010): 513 | Current FICO: EX 759, EQ: 773, TU: 761
Message 17 of 22
Anonymous
Not applicable

Re: Capital One Platinum w/ Fee = Keep?


@CraigHwk wrote:

@Anomalous wrote:
Not true. I had the same card and PC'd it.

Good to hear.  When I tried to PC it a couple weeks ago, they said to try back in 30 days to see if there's any available then.  They didn't seem to dig as deep into my account as they did today, so who knows.  Maybe I'll try back then and see what happens.  


Are you calling the EO or just the regular CSRs? Cap One CSRs are useless with things like this - seems the only way to PC anything with them is to contact the EO.

Message 18 of 22
lg8302ch
Senior Contributor

Re: Capital One Platinum w/ Fee = Keep?


@CraigHwk wrote:

Perhaps I need to be more persistent.  I called them 2 weeks ago for a PC but was told there were no offers.  (I then applied and got the QS).  Today they made it seem like since it was an aquisition card, it is not eligible for any sort of PC or changes.  

 

And I am with you, Sandbeach.


Your AAoA will not change right now as the Cap1 card will stay on your report for another 10 yrs. Maybe it is time to contact the EO and let them know that you would like to keep the card but PC to another card with no AF. If they insist in keeping your account with the AF you might want to cancel then. 

Message 19 of 22
Boragard
Established Contributor

Re: Capital One Platinum w/ Fee = Keep?

If you can't upgrade...DESTROY!!!...

 

...And apply for another one without a fee.  I did this back in 2008 for a Visa Platinum I had, it was a $500 limit with an annual fee of $39/year charged monthly in $3 increments...yuck!  To top it off the APR was 20+%. I called and requested an AF removal or close the account.  They closed the account immediately.  (It was my second credit card I got in college, I got a Freedom account in 2007 with a much higher limit and better APR; so I wasn't going to miss it).  About a month later I applied for a new card with no annual fee & got a higher limit and lower APR.  A few months later it was increased again due to credit steps. 

 

Good luck to you!

 

Message 20 of 22
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