09-28-2012 09:24 AM
Hi everyone - I figured I would throw my experience out there in terms of the executive office. I contacted them this week to see if anything could be done with any of the three accounts I held with them (two Visa's with $500 limits opened in 2001 and 2006 respectively - the first with a $39 annual fee and the second with no annual fee and cash rewards) and a Mastercard with a $3,600.00 limit opened in 2002 with an annual fee and no rewards. After speaking with him and discussing my concerns and needs, I was told I would hear back from him today, which I did. We closed the $500 Visa with the annual fee and high interest rate. He converted my Mastercard to a VentureOne card and increased my credit limit to $6,000.00 which has no annual fee. The second Visa with the $500 limit and no annual fee and cash rewards remained as is.
I also questioned him about my Orchard Bank credit card and whether or not Capital One would be able to merge that credit line into the Visa. He advised that he was not sure at this point how those accounts will be handled but that he did not expect that anything could be done in terms of merging the account with a Capital One card for at least a year, if at all. I also asked him about whether or not Capital One would be making changes in terms of the interest rates, etc. with the Orchard cards. He said in his opinion he did not think so but said if there were any changes to be made,customers would be notified well ahead of the change.
I also asked about the possible removal of a late on my credit report from 2006. He said that they were unable to do that since it was still an open account but that generally they stop reporting the late payments after 6 1/2 years.
I found the executive office a pleasure to deal with and am glad that some of the members of myFico were able to make some progress with Capital One. I know they often receive a lot of complaints on these boards, but they offered me credit without outrageous fees right out of my bankruptcy in 2001 and have always been pretty reasonable with me.
09-28-2012 09:29 AM
09-28-2012 02:16 PM
Yay! Congratsss! Thats a long time to keep a CAP one card at $500 CL OMG!
Mine would have been growing grass above its grave