So I was just charged my second AF for my Cap One secured card with a $300 limit. I never use this card because I've moved on to bigger and better cards. I called to close it hoping maybe they would wave the fee or increase my limit. Just give me SOMETHING to help justify paying $24 a year for this thing.
The rep went on for 14 minutes about all the benefits I was receiving for my $24 and how much it was helping my credit score. I told her I was receiving many more benefits from my Amex for the same fee. I said I'd consider staying if she'd wave the fee. Said she couldn't do it because the button was grayed out, it could be because my account is too new. Then she went on about how they like to see some more loyalty first, it's the fault of the current credit climate, most other card companies are going to start doing it etc.
I said "So... you can't wave the fee for this year?" "No" She replied. "Then close it out" I said.
Good job trying to build my loyalty.
build loyalty my @ss! i've had a cap one cc for the past two years with a $500 limit. i've put through thousands the first year alone and paying much of the balance but carrying 100 or so each month. what thanks do i get after two years? "we review accounts constantly to see if customer is eligible for increases" and the usual bs from them. so a couple of months ago, i paid the remaining balance of $150 in full and sock drawered the card. the good thing about my cc was no AF. but the only thing they will be getting from every couple of months now is $5....which is the cost of lunch.
I called calling CO to lower my interest rate...I have had a CO card since 1992 and (very) good credit. (its dropped a few points due to a recent car finance)...Can't do anything. I pay off my balance every month, but plan some remodeling soon and would like to carry a balance for 3-6 months.
Numbers below not current: Most current pull 775, 741 (was 779, 767 before car)
I don't even call any more.
I cut up the card and mail it back.
I tried to close out my Target card the other day and they went on for 10 min about blah, blah, blah and you have to stay on the call so you get confirmation they close the account. I feel like a hostage.
I just cut it up and mailed it back.
I just received a SW alert < 5 min ago on my Barclay card I closed about 2 weeks ago. It finally posted as a closed account. Useless thing with a low CL and high interest rate. That took another 15 min of my life I will never get back.
*sigh* So I log on to Cap One's website today and see they've given me a $24 credit... after I've already paid it all off and walked away. Nice of them, but I don't think that's how you're supposed to play the game. Now they have to mail me a check for $24.
I hate Capital One
I've nearly maxed my card out so many times. Never carry the balance for long, and never late. I've even been complimented by the CSR's on my excellent payment history. They still refused to give me a CLI. I know it's not the CSR's fault, but it still pissed me off. I've put together a nice little portfolio with very decent limits considering my limited credit history.
I'm sure it doesn't matter to them, but they lost a customer.
You do realize that cutting up a card and mailing it back is a waste of money and a pointless exercise.
If you want to close the account, make sure the balance is zero, and then call and ask that the account be closed and ask for a written confirmation of closure.
Put the document in a file in case you ever need it to correct a credit report in the future.