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I called Cap1 yesterday and closed both of my accounts. I had one Orchard card ($500) that was opened in 2011 with a $59 annual fee and another Cash Rewards card $1,000 and a $39 annual fee that was opened in March 2012. I had already been through the executive office and they did convert both of them to the Quicksilver card. They also gave me a CLI from $300 to $500 on the Orchard card.
I just decided that they were not worth my time or money anymore. I have some of the best credit cards on the market, and even J.Crew has a higher credit line than both of those cards. My average age of open accounts will take a hit, but I am willing to suffer that rather than playing the Capital One game for any longer. There literally were no upsides to keeping these cards. I would have had to call the EO whenever the annual fees came due each year, take the time to use it and pay it every other month or so, and all for what? No CLIs, no BT offers, and no benefits? No thanks, Cap1. You can keep your $1,500.
Sorry for the rant! It just feels good to no longer be beholden to two really Crappy credit cards.
Yea, I don't really see a point to keep those cap 1 cards open, especially if they have an AF. It was clearly the right call for you. They will be on your report for another 10 years so youre AAoA impact will be minimal. I'm suprised the EO couldn't be more helpful with getting you a higher CL etc.
Time to move on, they served their purpose.
Good for you! They served their purpose! Thanks for sharing.
@MACFRME wrote:I called Cap1 yesterday and closed both of my accounts. I had one Orchard card ($500) that was opened in 2011 with a $59 annual fee and another Cash Rewards card $1,000 and a $39 annual fee that was opened in March 2012. I had already been through the executive office and they did convert both of them to the Quicksilver card. They also gave me a CLI from $300 to $500 on the Orchard card.
I just decided that they were not worth my time or money anymore. I have some of the best credit cards on the market, and even J.Crew has a higher credit line than both of those cards. My average age of open accounts will take a hit, but I am willing to suffer that rather than playing the Capital One game for any longer. There literally were no upsides to keeping these cards. I would have had to call the EO whenever the annual fees came due each year, take the time to use it and pay it every other month or so, and all for what? No CLIs, no BT offers, and no benefits? No thanks, Cap1. You can keep your $1,500.
Sorry for the rant! It just feels good to no longer be beholden to two really Crappy credit cards.
Congrats on moving on. They served their purpose and the positive history will still continue to report for 10 years. At this point in your credit journey, the fees and rewards definitely aren't worth ti
@09Lexie wrote:Time to move on, they served their purpose.
My sentiments exactly...CapOne is not for everyone certainly if they no longer fit your needs.
@LearningMoreAboutCredit wrote:
@09Lexie wrote:Time to move on, they served their purpose.
My sentiments exactly...CapOne is not for everyone certainly if they no longer fit your needs.
+1
Exactly. Sorry to hear it didn't work out.
I must agree, if they are not willing to do anything for you, then yeah. You have plenty of credit available, so this really doesn't help you.
I am beginning to wonder if the overwhelming number of people who have called the EO has caused them to have different levels of EO! Maybe now they have promoted some of their low level CSRs to EO level to deal with the bulk of the callers. It would seem to fit their pervious strategy of giving nothing and being difficult to deal with.
+1
They didn't even offer a CLI on the non-Orchard card. It was stuck at $500 forever. It randomly doubled to $1,000 back in September for some odd reason. The EO didn't seem to want to help me at all, and I have read on here about people going from $500 to $10,000. After they snubbed my request, I knew they wouldn't "be in my wallet" anymore.