topic Capital One will not budge.... in Credit Cards

Capital One will not budge....

msaigh — Thu, 12 Mar 2015 22:45:40 GMT

So here’s my Capital One story. I have 2 cards, the Quicksilver Visa & Venture. After talking to CSR every 90 days for the past year, they will not budge on my APR. 6 months ago I stop using these cards as everyday cards, and placed a recurring monthly charge on them. I paid the balance in full each month. I know conventional wisdom states to stick the cards in a sock draw and forget about them. I believe I’m passed that. I no longer want to be in business with Capital One and I’m thinking of closing both accounts. Closing the accounts will not harm my credit utilization which is currently at 2%. I know this will hurt my Age of Open Accounts with Vantagescore 3 & FAKO scores, but I don’t care since it will not harm my Age of All Accounts, for 10 years, which FICO uses. Did I miss any negatives? Is this a bad idea? I look forward to your comments

Re: Capital One will not budge....

Anonymous — Thu, 12 Mar 2015 01:12:56 GMT

@msaigh wrote:
So here’s my Capital One story. I have 2 cards, the Quicksilver MC World & Venture One MC. After talking to CSR every 90 days for the past year, they will not budge on my APR. 6 months ago I stop using these cards as everyday cards, and placed a recurring monthly charge on them. I paid the balance in full each month. I know conventional wisdom states to stick the cards in a sock draw and forget about them. I believe I’m passed that. I no longer want to be in business with Capital One and I’m thinking of closing both accounts. Closing the accounts will not harm my credit utilization which is currently at 2%. I know this will hurt my Age of Open Accounts with Vantagescore 3 & FAKO scores, but I don’t care since it will not harm my Age of All Accounts, for 10 years, which FICO uses. Did I miss any negatives? Is this a bad idea? I look forward to your comments

Banish them to hades!

Re: Capital One will not budge....

core — Thu, 12 Mar 2015 01:27:27 GMT

Since you're not carrying a balance on those cards, why does the APR even matter? Or is this some kind of game to play with Cap One, make up some demand and leave in a huff if they don't give it to you? I've certainly got no love for them, if you don't need the 1.5% on the QS then I'd flush them down the toilet. But that's because they are a crappy company, not because they won't give you whatever you ask for.

Re: Capital One will not budge....

msaigh — Thu, 12 Mar 2015 01:44:27 GMT

Thanks for the reply core.

It’s not a game, I’ve had enough with their business practices. One of the cards I’ve had since 2006 with no change in APR and no Auto CLI. These cards have an APR of 22.99%. The APR’s on my remaining cards are as follows: 8.15%, 10.99%, 11.99%, 12.99%,13.99%,15.99%. and I have had a FICO score above 740 for the last 24 months. You are right, It should not matter to me because I do not pay interest on any of my cards. It’s just that Capital One has never been easy to work with. NO CUSTOMER SERVICE.

Re: Capital One will not budge....

FinStar — Thu, 12 Mar 2015 01:48:18 GMT

Then it sounds like your mind is made up and just end the relationship. If the product or company is no longer offering much in the sense of a mutual benefit, then close the CCs. Of course, not every lender will work for everyone. I, on the other hand, have had no issues with Capital One.

Re: Capital One will not budge....

jacetx — Thu, 12 Mar 2015 01:48:38 GMT

Have you tried contacting the Executive Office? I noticed that you only talked to the CSR. These people actually have authority to make changes in your accounts that the regular CSRs can't make. I had a Quicksilver at 22.9% and after talking to them I was able to get it down to 18%.

Re: Capital One will not budge....

ddemari — Thu, 12 Mar 2015 01:52:48 GMT

Sometimes when cards are converted from other products, not sure if your qs wmc was a different product before or not but csr's and even backdoor people can't budge on the cards apr/ terms. Ive only had it done through eo channels. Not worh the hoops unless u would benefit or just want the satisfaction.

Re: Capital One will not budge....

msaigh — Thu, 12 Mar 2015 01:53:00 GMT

FinStar. I'm using the comunity as a sounding board. I have not 100% made up my mind, but I'm close. I'm just looking for some insight from the group as to the good & bad before going forward with this. Thanks for the reply.

Re: Capital One will not budge....

msaigh — Thu, 12 Mar 2015 01:58:24 GMT

jace8602, I should not have to use the Executive Office. Front line customer service should have the power to do this. That's why I love freedom of choice. I've never had to jump through hoops with American Express, Discover, or Chase. Thanks for the reply.

Re: Capital One will not budge....

Aarvard — Thu, 12 Mar 2015 01:59:05 GMT

@Anonymous wrote:
@msaigh wrote:
So here’s my Capital One story. I have 2 cards, the Quicksilver MC World & Venture One MC. After talking to CSR every 90 days for the past year, they will not budge on my APR. 6 months ago I stop using these cards as everyday cards, and placed a recurring monthly charge on them. I paid the balance in full each month. I know conventional wisdom states to stick the cards in a sock draw and forget about them. I believe I’m passed that. I no longer want to be in business with Capital One and I’m thinking of closing both accounts. Closing the accounts will not harm my credit utilization which is currently at 2%. I know this will hurt my Age of Open Accounts with Vantagescore 3 & FAKO scores, but I don’t care since it will not harm my Age of All Accounts, for 10 years, which FICO uses. Did I miss any negatives? Is this a bad idea? I look forward to your comments
Banish them to hades!

Yup. Their half-brother Credit One is already down there, so would you be so kind and let them reunite

Re: Capital One will not budge....

msaigh — Thu, 12 Mar 2015 02:00:03 GMT

ddemari

yes both cards are PC cards. I asked this same question to CSR many times and I never get a clear answer. Thanks

Re: Capital One will not budge....

FinStar — Thu, 12 Mar 2015 02:02:48 GMT

@msaigh wrote:
FinStar. I'm using the comunity as a sounding board. I have not 100% made up my mind, but I'm close. I'm just looking for some insight from the group as to the good & bad before going forward with this. Thanks for the reply.

Well, on the upside and based on your signature, you have very great scores and would qualify for just about anything. On the other hand, and in my experience, I've had no issues with Capital One (dating back more than 15 years even with its predecessor). If you feel it's worth your time and effort to reach out to the EO as some have suggested, then you can weigh your options on whether it's worth keeping those tradelines. There have been quite a number of reported successes with the EO channel as a last resort for some individuals.

Re: Capital One will not budge....

core — Thu, 12 Mar 2015 02:11:47 GMT

@FinStar wrote:
I've had no issues with Capital One (dating back more than 15 years even with its predecessor).

Who is Capital One's predecessor? I remember Capital One cards way longer than 15 years ago. The kind with toy limits and they wouldn't report your limits to the CRAs so it would hose your utilization. Until you intentionally maxed them out to fix your high bal. That right there should count as an "issue". I believe this was around 1995 but I could be off by a year or two. I'm still curious bout the predecessor. I know Cap One has purchased accounts from other companies but that's different.

Re: Capital One will not budge....

FinStar — Thu, 12 Mar 2015 02:16:53 GMT

@core wrote:
@FinStar wrote:
I've had no issues with Capital One (dating back more than 15 years even with its predecessor).
Who is Capital One's predecessor? I remember Capital One cards way longer than 15 years ago. The kind with toy limits and they wouldn't report your limits to the CRAs so it would hose your utilization. Until you intentionally maxed them out to fix your high bal. That right there should count as an "issue". I believe this was around 1995 but I could be off by a year or two. I'm still curious bout the predecessor. I know Cap One has purchased accounts from other companies but that's different.

North Fork Bank was one of its predecessors. They also acquired Signet Bank's CCs. I had accounts with both.

Re: Capital One will not budge....

core — Thu, 12 Mar 2015 02:16:14 GMT

@FinStar wrote:
North Fork Bank was one of its predecessors. They also acquired Signet Bank. I had accounts with both.

Thanks for the info.

Sorry about the triple post folks. I don't know what happened there but my browser seemed to want to go off and post while I was trying to type.

Re: Capital One will not budge....

FinStar — Thu, 12 Mar 2015 02:18:06 GMT

@core wrote:
@FinStar wrote:
North Fork Bank was one of its predecessors. They also acquired Signet Bank. I had accounts with both.
Thanks for the info.

Sorry about the triple post folks. I don't know what happened there but my browser seemed to want to go off and post while I was trying to type.

No worries. I think your browser may have gotten excited with Capital One it posted triple (like their HPs)

Re: Capital One will not budge....

msaigh — Thu, 12 Mar 2015 02:39:16 GMT

I have contacted the Executive Office. Lets see what happens!

Re: Capital One will not budge....

tonyjones — Thu, 12 Mar 2015 02:41:36 GMT

@msaigh wrote:
I have contacted the Executive Office. Lets see what happens!

The EO is the best way to deal with CapOne, they have given me CLI at least 6 times in the last two years. They deal with the underwriter/credit analyst directly, not some newbie CSR that you get when you call, it's all scripted.

Re: Capital One will not budge....

msaigh — Thu, 12 Mar 2015 02:44:58 GMT

Since I'm new to the community, Is it wrong of me to ask you what email address you used? I'm not sure if you're allowed to post it.

Re: Capital One will not budge....

kdm31091 — Thu, 12 Mar 2015 02:53:25 GMT

We cannot post the email address itself, but someone can PM it to you, or you can google capital one's CEO email and it comes up (someone will invariably post a "let me google that for you" link, but you can do it yourself the same).

I do agree you need the EO for most requests with Cap One before you give up.