wacdenney wrote: I will be closing my Crapital One cards before the ridiculous AFs hit again and to be honest I really hate to have to do it. 1.5% is a good deal and I have already invested a great deal of time and effort into the cards.
The desire to build up a good borrower and then pass them off to another company makes no sense whatsoever IMO Why not continue to nurture the mutually beneficial relationship instead?
Capital one is like two different companies. If you get a sub-prime card like the Platinum Rebuilder, Quicksilver One, or other Annual Fee cards, you have a cap on your limit. This is part of what Cap1 does to mitigate the risk of lending to people with questionable credit. Not everyone is rebuilding, and people do default.
Once you are done rebuilding and qualify for better cards, if you were to app again you would get prime cards with higher limits.
The trick is to get them to Product Change you to a higher tier card when your file improves. They will do it. In fact, it doesn't always take a call to the execs. On one card I had the AF removed, and a product change from plat to Quicksilver (not QS1), and on the other a PC from the platinum Rebuilder to a Green Cash, and later to a Quicksilver World Card. Once I got out of their sub-prime lines, the limit increases came every six months on my request.
I'm stoked to have my oldest card still active. Not having to replace it means a benefit to my AAOA, and no closed crappy sub-prime card staining my report in a manual review.
Call and ask them to do a "Card Swap" to something without an AF, or waive the AF.
Good luck.
