Reply
Valued Member
Posts: 55
Registered: ‎09-26-2012
0

Trade annual fee card for a no annual fee?

[ Edited ]

After miscalibrating my creditworthiness and getting denied 4 or 5 times...I've finally been accepted for a credit card without needing a cosigner! It's the Cap1 Cash Rewards Mastercard. The only problem is that it has an annual fee. I would rather trade it for the Cap1 Platinum which has no fee, but a higher APR. I haven't activated the card yet. Any chance they will just let me trade? Fee card is better than nothing, but I'm afraid in the long run I will one day wish to cancel this card. 

New Member
Posts: 18
Registered: ‎09-23-2012
0

Re: Trade annual fee card for a no annual fee?

IT depends, what is your score? How old are your baddies? But even then, capital one is NOT very friendly when it comes to switching cards. Chances are they won't do it.

Valued Member
Posts: 55
Registered: ‎09-26-2012
0

Re: Trade annual fee card for a no annual fee?

Score is 650-700. My baddies (credit pulls) are recent. Will it hurt my credit 3 years from now when I might cancel the card?

Highlighted
Valued Contributor
Posts: 1,607
Registered: ‎09-15-2012
0

Re: Trade annual fee card for a no annual fee?

I think you might misunderstand the term "baddies". These would mean late payments reporting to the bureaus (30+ days), collections, judgments, bankruptcy, etc.

But regardless, having a card with an annual fee won't hurt your credit, if that's what you are asking.

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Citi Forward (12/12) $14,600, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Thank You Premier (6/15) $6,800

Last App: June 27, 2015
Valued Member
Posts: 55
Registered: ‎09-26-2012
0

Re: Trade annual fee card for a no annual fee?

Thank you. I have zero baddies. However, I'm asking if closing this account down the road will hurt my credit. I'm not always going to want this fee. Otherwise, I'd rather tell Cap1 I want a different card instead. What would you do?

Super Contributor
Posts: 5,889
Registered: ‎12-11-2011
0

Re: Trade annual fee card for a no annual fee?

[ Edited ]

A) The plat has an AF (one of them has a 19$ and the other has a 39$ AF, the one with no AF is plat prestige which is a prime card) 

 

B) They will not let you change your card, they rarely do that to anyone. 

 

C) the $39 AF isn't really that much, you get 1% in rewards plus a 50% bonus (so effectively you get 1.5% on everything) and you dont have to spend that much to break even. 

 

 

Edit: Well you already opened it, you might as well keep it open for now. Closing an account down the road won't affect anything but your utilization. The account will continue to report for 10 years so your AAoA won't really be affected. 

;
Valued Member
Posts: 55
Registered: ‎09-26-2012
0

Re: Trade annual fee card for a no annual fee?

I'm sold. 

Valued Contributor
Posts: 2,281
Registered: ‎09-16-2011
0

Re: Trade annual fee card for a no annual fee?

There is a no AF capitalone card, that is a rebulder/starter card, my son just got it, he had zero cards, only 2x AU'd capone cards on his report for 4 months.   I also have a no fee CapOne card that was part of the steps program its 40 months old back then it was two steps, a 2k limit and no increases in years and CLI are declined. 

 

 

 

 

Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5k, Walmart 10k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 10k and a nice stack of store cards.
Last APP/HP 4/22/2015
Super Contributor
Posts: 5,889
Registered: ‎12-11-2011
0

Re: Trade annual fee card for a no annual fee?


jamesdwi wrote:

There is a no AF capitalone card, that is a rebulder/starter card, my son just got it, he had zero cards, only 2x AU'd capone cards on his report for 4 months.   I also have a no fee CapOne card that was part of the steps program its 40 months old back then it was two steps, a 2k limit and no increases in years and CLI are declined. 

 

 

 

 


The only way to get a no AF starter/rebuilder card from cap1 is through a mailed special offer. That is what I did. I got a plat MC with no AF and PCd it to a cash rewards. 

 

Otherwise, the only no AF cards cap1 offers are their prime cards, and their partner cards (I think orbitz and playstation have no AF) 

;
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.