Regular Contributor
pt2005
Posts: 129
Registered: ‎10-12-2012
Stuck with Cap1 Platinum Visa $500 CL, and $59 AF for 12 years. Help!!!!

Hi all,

 

My first post here and I need your help, please.

 

I have this Cap1 Visa Platinum since Feb 2000. The CL has been $500 for those 12 years.

 

My current credit scores across all 3 bureaus are 650-675 (yeah, I had some tough time with several charged offs in 2010 but I cleaned them all up)

Recently, I was approved for a AMEX SimplyCash for $3000, a CapOne Cash Rewards for $1000, and business CapOne Spark Select for $2000.

 

Since this Cap1 Platinum is my oldest card, I don't want to close it. Nor do I want to pay $59 annually either, since it does not grow. So I called them last week. But they said "there is no offer available for this card. I'll put a note in your file to flag some analysts so they can review your request sooner". The balance of the account is question has been $0 for 3 months. And my overall UTIL is < 10%.

 

Please advise me what to do? Email Exec office? Call Exec office? Cancel? Continue to pay $59/year (ouch!)?

 

Thank you in advance

-Patricia

 

FICO Scores: EX 744 (Quizzle), myFICO EQ 675, myFICO TU 708
Credit Cards: Chase Freedom 7k | Cap1 Spark Cash 5.5k | AMEX TrueEarnings 4.5k | Cap1 Cash Visa 3.5k | Cap1 Cash MC 3.5k | AMEX SimplyCash 3K | Discover IT1k
Store: PayPal SmartConnect 5k | JCP 4.2k | Banana 3k | Walmart 2.2K | Kohls 1500 | TargetRED 300