Thoughts on 16 year old Cap One account with AF

[Anonymous]

I have a Capital One Platnum acount that is almost 16 years old. I think it might be the first credit card I ever got. It has a 59$ AF and only had a 300 limit, so I've rarely used it. I think it was actually a difrent card originally that was bought out by capital one over 13-14 years ago.

I don't want to close it because it helps my age a lot. Not long ago I requested a credit increase. I was granted 100$ witch is not much.

I have another card with cash back and a higher limit that I mostly use. I got on the capital one site and was able to change the card to quicksilver one, witch gets rewards. The bad part is that they kept the AF at 59$ instead of the 39$ that the card advertises. Is this normal?

I also submitted another limit increase request. I got an email a couple of days later saying that they couldn't do it because I don't spend enough on the card.

Here is my main question. If I start using the card more and paying it off every month, how long would it take to get my credit limit higher? If I get my credit limit high enough would I be able to change it from a quicksilver one to a quicksilver to get rid of the AF?

Is there any way to get cap one to give me the current AF instead of what I've been paying for 15-16 years?

[GApeachy]

Whether I had an af or not, cli or not.....I'd love to have your card and it's history.  You can try this link to see about upgrading.  Congrats on having a oldie but goodie.  Wish I did.

Post: https://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-upgrade-link-email/td-p/5400377

[Anonymous]

How old is your next oldest card?

What else do you have for cards?

Closing the card will not impact your score materially unless that limit is a material amount of your total credit.

It will not impact FICO scores for ten years... no guarantee but that is most likely when.

Vantage scores it will impact on closing, so if you have or want Synchrony cards might be worth the fee depending on how old second oldest card is.

[RadioRob]

Have you asked CapOne if you could product change the card to a QuickSilver card with no AF?

[Anonymous]

Yeah. I did change it from Platnum to quicksilver one... same credit limit and fee though.... I think the regular quicksilver with no AF might have like a 1k minimum limit or something. I think that's why it doesn't show up as an option. That's one of the things I was kind of wondering about.

as far as the credit limit increase they wouldn't let me have it because the card wasn't used enough... that's why I was wondering how long that would take to change if I started spending more on the card and then paying it off monthly... now that it's a quicksilver one at least I'll get rewards on it so I don't feel bad about moving some stuff from my other card to this one.

I just have one other credit card that's less then a year old. I plan on getting an Amex delta card as soon as I get my score up a bit more... but I would really like to get this cap one card converted to a no AF card.

avrave age of accounts is 8Y6M closing the cap one card would bring that way down so I don't want to do it.

[Anonymous]

Does anyone have any ideas why they are still charging me $59 instead of $39? Are you always stuck with your original annual fee?

[GApeachy]

I'd call and ask.  I'd ask to get the apr lowered too.  As far as how long you'd need to throw spend on it to get a cli...idk, it might be bucketed and no amt. of jack would help.  Then again, 6 months of spend could draw you an increase.  Who knows for 100%?

I'd first start by trying to get the af lowered or gone and then the apr lowered as well.  If you get no traction then rethink another game plan.  At least you have a card that's that old and if you were to kick it to the curb it would still be on your cr's for probably another 10 yrs.  Good luck if you call.

[KLEXH25]

I think your best course of action is to contact Capital One directly and see if you can get the AF lowered or removed altogether. Typically, when you close a card, it will continue to contribute in age for about 10 years after. Normally, I would suggest to close it if you're not using it, but since you only have one other card with only one year of history, I wouldn't touch it unless you have student loans or other history that contributes to your account age. 

[Ragdollkitty]

I had some experience with their cards.  Usage worked for me for then to raise them limit. I eventually got a $300 limit to over $4k over the years.

I think $4k is ambracket for them. I had two AF cards.  When I tried to convert them back in 2014-15, I got them to change the one over $4k limit to the quicksilver no AF. The other card was lower than $4k and they would only make if QS with AF.  I just charged something monthly to it and they'd refund the AF when I called and asked for a refund of the AF. 

Last year I got the limit to over $4k.  I used the link provided here and I finally was able to convert it to a no AF QS card.

I had heard about this supposed $4k limit for the AF or No AF conversion on another forum and it seemed to be true in my case.

If you want to raise the limit, I think it'll work if you cycled all your spending through it, even if it means paying it off multiple times a month.

[Ficoproblems247]

The standard no AF QS card does not have a 1k minimum so don't worry about your CL being the deciding factor. Now that you've PCd it to the QS1 you will have to wait a minimum of 181 days to attempt to PC it again. At that point, you'll want to call and speak to a CSR instead of using the link.

Edit: unless of course the link gives you your desired card as a choice. 

I would also call and speak with someone right away about that AF. Start by asking that it be waived all together, and if that's a no go at least try to have it reduced to the $39. I would certainly hope with your tenure that Cap1 would waive it for you. With them thoug, the CSR will only be able to follow the instructions that the computer spits out.