topic Re: Capital One Experience in Credit Cards

Capital One Experience

Focused10 — Mon, 12 Oct 2015 16:05:21 GMT

Has anyone had any success with lowering their interest rate with Capital One? My goodness...just trying to get a decent answer is like pulling teeth!

Any suggestions?

Re: Capital One Experience

ddemari — Mon, 12 Oct 2015 16:12:10 GMT

I have been able to sucessfully get a CLI, a product change, an annual fee removed but no go with APR.

Re: Capital One Experience

Imperfectfuture — Mon, 12 Oct 2015 16:17:40 GMT

APR reduction needs to go through EO. The other stuff I received also went through EO (due to rapid increase in scores). If not want the hassle, then try for new product. Me, I am not so much into combining, will probably close (did have offer to contact EO for apr reduction, but some cards are now way lower), and if need a quicksilver, apply for new one - though much later on. Maybe they come out with better product? It's the rumor.

Re: Capital One Experience

joshkm — Mon, 12 Oct 2015 16:28:59 GMT

I was only able to get mine temporarily lowered a few points when I had an account with them. It was a promotional offer they gave me after asking, and was only good for six months.

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One. I had to contact them every year and they would credit it for me, but I got tired of having to do that so I closed the card.

Re: Capital One Experience

Anonymous — Mon, 12 Oct 2015 17:15:23 GMT

@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.

Have you tried to PC the Quicksilver One MC to the Quicksilver MC?

Re: Capital One Experience

UncleB — Mon, 12 Oct 2015 18:57:20 GMT

@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?

For some folks the PC of a Quicksilver One MC to a Quicksilver is very elusive... I've been told for 3 years now that "there are no offers available at this time". My QS1 annual fee is $79, and they usually waive half of it, which means I'm still paying more than somebody with a new QS1 card. I've not closed the account because it's one of my oldest, and the APR is actually not bad (14.9%).

Now that we can merge/combine accounts, that seems to be the answer to both the AF and APR issues. The AF issue is usually workable (with an annual phone call for most) but if Capital One can ever figure out how to lower an APR without requiring the EO they will become even more competitive than they are now.

Re: Capital One Experience

joshkm — Mon, 12 Oct 2015 19:12:08 GMT

@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?

I asked a couple times and the EO told me they couldn't do it. I have better cards now so I figured why deal with having to beg them every year. I closed it. Nothing against Capital One. They helped open the door for me, but it was time to move on. Maybe in the future I'll apply for the Visa Signature version, but for now with Citi DC and Fidelity Amex, I don't need it.

My QS1 was a Platinum before I had it PC'd and the rewards added on.

Re: Capital One Experience

joshkm — Mon, 12 Oct 2015 19:21:52 GMT

@UncleB wrote:
@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?
For some folks the PC of a Quicksilver One MC to a Quicksilver is very elusive... I've been told for 3 years now that "there are no offers available at this time". My QS1 annual fee is $79, and they usually waive half of it, which means I'm still paying more than somebody with a new QS1 card. I've not closed the account because it's one of my oldest, and the APR is actually not bad (14.9%).

Now that we can merge/combine accounts, that seems to be the answer to both the AF and APR issues. The AF issue is usually workable (with an annual phone call for most) but if Capital One can ever figure out how to lower an APR without requiring the EO they will become even more competitive than they are now.

$79 that's high! How did you end up paying that? Was it another product before?

My QS1 AF was $29 and that was because it was a Platinum before I had it changed over. It always bugged me because a couple days after I apped for it I saw they lowered the AF on the Platinum to $19 or something like that.

Re: Capital One Experience

killer_queen229 — Mon, 12 Oct 2015 19:25:20 GMT

My interest rate with CO has always been pretty good.

Re: Capital One Experience

UncleB — Mon, 12 Oct 2015 19:35:25 GMT

@joshkm wrote:
@UncleB wrote:
@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?
For some folks the PC of a Quicksilver One MC to a Quicksilver is very elusive... I've been told for 3 years now that "there are no offers available at this time". My QS1 annual fee is $79, and they usually waive half of it, which means I'm still paying more than somebody with a new QS1 card. I've not closed the account because it's one of my oldest, and the APR is actually not bad (14.9%).

Now that we can merge/combine accounts, that seems to be the answer to both the AF and APR issues. The AF issue is usually workable (with an annual phone call for most) but if Capital One can ever figure out how to lower an APR without requiring the EO they will become even more competitive than they are now.
$79 that's high! How did you end up paying that? Was it another product before?

My QS1 AF was $29 and that was because it was a Platinum before I had it changed over. It always bugged me because a couple days after I apped for it I saw they lowered the AF on the Platinum to $19 or something like that.

Yeah, it was an HSBC/Orchard Bank Mastercard with 2% cash back. They lowered my cash back to 1.5% when it became a Quicksilver, but kept the AF the same. I would have closed it long ago, but it's one of my oldest cards (it's now eight years old) and I keep hoping they'll change their mind on the AF. I'm $80 away from breaking the $3k threshhold on the credit limit, and some folks here believe that will make it easier to PC to the Quicksilver.

We'll see... I'm up for a CLI in December. If they don't do the PC after that, I'll definitely merge it with my no-AF Quicksilver Visa Signature. There's no way I'm paying that fee (or even half of it) again.

Re: Capital One Experience

joshkm — Mon, 12 Oct 2015 19:48:12 GMT

@UncleB wrote:
@joshkm wrote:
@UncleB wrote:
@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?
For some folks the PC of a Quicksilver One MC to a Quicksilver is very elusive... I've been told for 3 years now that "there are no offers available at this time". My QS1 annual fee is $79, and they usually waive half of it, which means I'm still paying more than somebody with a new QS1 card. I've not closed the account because it's one of my oldest, and the APR is actually not bad (14.9%).

Now that we can merge/combine accounts, that seems to be the answer to both the AF and APR issues. The AF issue is usually workable (with an annual phone call for most) but if Capital One can ever figure out how to lower an APR without requiring the EO they will become even more competitive than they are now.
$79 that's high! How did you end up paying that? Was it another product before?

My QS1 AF was $29 and that was because it was a Platinum before I had it changed over. It always bugged me because a couple days after I apped for it I saw they lowered the AF on the Platinum to $19 or something like that.
Yeah, it was an HSBC/Orchard Bank Mastercard with 2% cash back. They lowered my cash back to 1.5% when it became a Quicksilver, but kept the AF the same. I would have closed it long ago, but it's one of my oldest cards (it's now eight years old) and I keep hoping they'll change their mind on the AF. I'm $80 away from breaking the $3k threshhold on the credit limit, and some folks here believe that will make it easier to PC to the Quicksilver.

We'll see... I'm up for a CLI in December. If they don't do the PC after that, I'll definitely merge it with my no-AF Quicksilver Visa Signature. There's no way I'm paying that fee (or even half of it) again.

It's hard to let go of your oldest TL. That was my dilemma too. Mine wasn't as old as yours though. 8 years is a long time. I knew the longer I held on to mine, the more I wouldn't want to close it, so I just did it and haven't regreted it. If I were in your shoes I don't know if I could close it, but I wouldn't want to be paying $80 a year for it either!

It's no fun being held hostage and paying ransom. I hope you have success with your CLI and getting rid of that fee!

Re: Capital One Experience

UncleB — Mon, 12 Oct 2015 20:00:27 GMT

@joshkm wrote:
@UncleB wrote:
@joshkm wrote:
@UncleB wrote:
@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?
For some folks the PC of a Quicksilver One MC to a Quicksilver is very elusive... I've been told for 3 years now that "there are no offers available at this time". My QS1 annual fee is $79, and they usually waive half of it, which means I'm still paying more than somebody with a new QS1 card. I've not closed the account because it's one of my oldest, and the APR is actually not bad (14.9%).

Now that we can merge/combine accounts, that seems to be the answer to both the AF and APR issues. The AF issue is usually workable (with an annual phone call for most) but if Capital One can ever figure out how to lower an APR without requiring the EO they will become even more competitive than they are now.
$79 that's high! How did you end up paying that? Was it another product before?

My QS1 AF was $29 and that was because it was a Platinum before I had it changed over. It always bugged me because a couple days after I apped for it I saw they lowered the AF on the Platinum to $19 or something like that.
Yeah, it was an HSBC/Orchard Bank Mastercard with 2% cash back. They lowered my cash back to 1.5% when it became a Quicksilver, but kept the AF the same. I would have closed it long ago, but it's one of my oldest cards (it's now eight years old) and I keep hoping they'll change their mind on the AF. I'm $80 away from breaking the $3k threshhold on the credit limit, and some folks here believe that will make it easier to PC to the Quicksilver.

We'll see... I'm up for a CLI in December. If they don't do the PC after that, I'll definitely merge it with my no-AF Quicksilver Visa Signature. There's no way I'm paying that fee (or even half of it) again.
It's hard to let go of your oldest TL. That was my dilemma too. Mine wasn't as old as yours though. 8 years is a long time. I knew the longer I held on to mine, the more I wouldn't want to close it, so I just did it and haven't regreted it. If I were in your shoes I don't know if I could close it, but I wouldn't want to be paying $80 a year for it either!

It's no fun being held hostage and paying ransom. I hope you have success with your CLI and getting rid of that fee!

Thanks!

I agree, it is a bit like being 'held hostage'... each year when I call, they are quick to remind me "with the age of your account and its perfect history, this is quite a strong account...". Strangely enough, it's the APR that makes me hesitant to close it, since it's my lowest at 14.9% (my next lowest is USAA at 16.9%).

This is really silly since I generally don't carry a balance, and even if I did for a short time the difference between 14.9 and 16.9 would be minuscule, but it's a psychological thing, I guess... LOL

Look for a thread from me around the holidays... I'm hoping to have good news around then!

Re: Capital One Experience

Anonymous — Mon, 12 Oct 2015 20:06:55 GMT

I wonder if writing a letter pleading your case (and making it ooze of honey) to the EO would make a difference.

Re: Capital One Experience

UncleB — Mon, 12 Oct 2015 20:17:49 GMT

@Anonymous wrote:
I wonder if writing a letter pleading your case (and making it ooze of honey) to the EO would make a difference.

That's a good point... it definitely might, and I'm certainly not beyond 'begging' if the money is right (LOL), but for this I'm ready to just move on - with this card, or without it.

As for the OP's APR dilemma, some folks have reported having some luck with getting a reduction through the EO, and it's always a possibility. Otherwise it's best to just app for a new account with a lower rate, and after six months merge the old credit line into the new one.

Re: Capital One Experience

Shooting-For-800 — Fri, 16 Oct 2015 12:13:12 GMT

Don't feel bad, standard rate is 34.9% in England.

Re: Capital One Experience

UncleB — Fri, 16 Oct 2015 17:27:49 GMT

@Shooting-For-800 wrote:
Don't feel bad, standard rate is 34.9% in England.

Oh my... that certainly 'encourages' one to PIF each month!

Re: Capital One Experience

Anonymous — Fri, 16 Oct 2015 20:15:11 GMT

@UncleB wrote:
@joshkm wrote:
@UncleB wrote:
@joshkm wrote:
@UncleB wrote:
@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?
For some folks the PC of a Quicksilver One MC to a Quicksilver is very elusive... I've been told for 3 years now that "there are no offers available at this time". My QS1 annual fee is $79, and they usually waive half of it, which means I'm still paying more than somebody with a new QS1 card. I've not closed the account because it's one of my oldest, and the APR is actually not bad (14.9%).

Now that we can merge/combine accounts, that seems to be the answer to both the AF and APR issues. The AF issue is usually workable (with an annual phone call for most) but if Capital One can ever figure out how to lower an APR without requiring the EO they will become even more competitive than they are now.
$79 that's high! How did you end up paying that? Was it another product before?

My QS1 AF was $29 and that was because it was a Platinum before I had it changed over. It always bugged me because a couple days after I apped for it I saw they lowered the AF on the Platinum to $19 or something like that.
Yeah, it was an HSBC/Orchard Bank Mastercard with 2% cash back. They lowered my cash back to 1.5% when it became a Quicksilver, but kept the AF the same. I would have closed it long ago, but it's one of my oldest cards (it's now eight years old) and I keep hoping they'll change their mind on the AF. I'm $80 away from breaking the $3k threshhold on the credit limit, and some folks here believe that will make it easier to PC to the Quicksilver.

We'll see... I'm up for a CLI in December. If they don't do the PC after that, I'll definitely merge it with my no-AF Quicksilver Visa Signature. There's no way I'm paying that fee (or even half of it) again.
It's hard to let go of your oldest TL. That was my dilemma too. Mine wasn't as old as yours though. 8 years is a long time. I knew the longer I held on to mine, the more I wouldn't want to close it, so I just did it and haven't regreted it. If I were in your shoes I don't know if I could close it, but I wouldn't want to be paying $80 a year for it either!

It's no fun being held hostage and paying ransom. I hope you have success with your CLI and getting rid of that fee!
Thanks!

I agree, it is a bit like being 'held hostage'... each year when I call, they are quick to remind me "with the age of your account and its perfect history, this is quite a strong account...". Strangely enough, it's the APR that makes me hesitant to close it, since it's my lowest at 14.9% (my next lowest is USAA at 16.9%).

This is really silly since I generally don't carry a balance, and even if I did for a short time the difference between 14.9 and 16.9 would be minuscule, but it's a psychological thing, I guess... LOL

Look for a thread from me around the holidays... I'm hoping to have good news around then!

This got me excited. Whatchya plottin' UncleB???????

Re: Capital One Experience

UncleB — Sat, 17 Oct 2015 00:05:54 GMT

@Anonymous wrote:
@UncleB wrote:
@joshkm wrote:
@UncleB wrote:
@joshkm wrote:
@UncleB wrote:
@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?
For some folks the PC of a Quicksilver One MC to a Quicksilver is very elusive... I've been told for 3 years now that "there are no offers available at this time". My QS1 annual fee is $79, and they usually waive half of it, which means I'm still paying more than somebody with a new QS1 card. I've not closed the account because it's one of my oldest, and the APR is actually not bad (14.9%).

Now that we can merge/combine accounts, that seems to be the answer to both the AF and APR issues. The AF issue is usually workable (with an annual phone call for most) but if Capital One can ever figure out how to lower an APR without requiring the EO they will become even more competitive than they are now.
$79 that's high! How did you end up paying that? Was it another product before?

My QS1 AF was $29 and that was because it was a Platinum before I had it changed over. It always bugged me because a couple days after I apped for it I saw they lowered the AF on the Platinum to $19 or something like that.
Yeah, it was an HSBC/Orchard Bank Mastercard with 2% cash back. They lowered my cash back to 1.5% when it became a Quicksilver, but kept the AF the same. I would have closed it long ago, but it's one of my oldest cards (it's now eight years old) and I keep hoping they'll change their mind on the AF. I'm $80 away from breaking the $3k threshhold on the credit limit, and some folks here believe that will make it easier to PC to the Quicksilver.

We'll see... I'm up for a CLI in December. If they don't do the PC after that, I'll definitely merge it with my no-AF Quicksilver Visa Signature. There's no way I'm paying that fee (or even half of it) again.
It's hard to let go of your oldest TL. That was my dilemma too. Mine wasn't as old as yours though. 8 years is a long time. I knew the longer I held on to mine, the more I wouldn't want to close it, so I just did it and haven't regreted it. If I were in your shoes I don't know if I could close it, but I wouldn't want to be paying $80 a year for it either!

It's no fun being held hostage and paying ransom. I hope you have success with your CLI and getting rid of that fee!
Thanks!

I agree, it is a bit like being 'held hostage'... each year when I call, they are quick to remind me "with the age of your account and its perfect history, this is quite a strong account...". Strangely enough, it's the APR that makes me hesitant to close it, since it's my lowest at 14.9% (my next lowest is USAA at 16.9%).

This is really silly since I generally don't carry a balance, and even if I did for a short time the difference between 14.9 and 16.9 would be minuscule, but it's a psychological thing, I guess... LOL

Look for a thread from me around the holidays... I'm hoping to have good news around then!
This got me excited. Whatchya plottin' UncleB???????

LOL... well, I'm really 'thinking out loud' at this point, but while lots of folks go for high credit lines, right now I would actually prefer a card with a lower APR (I have all the available credit I need for my modest income).

Capital One has been fairly consistent with their offers to me the last few months, with the standard 17.9% Venture and QS offers always showing up, but lately they've also offered me a no-AF 'Platinum' MasterCard with a slightly lower APR... if that offer is still around in January or February, I might just have to pick it up and after six months merge my existing QS1 into it. At some point, I could probably even convert it to a QS, which would really just put me back where I am now, but with a lower APR.

Of course if I picked up the Venture I could take advantage of the sign up bonus, but after that it wouldn't be of much use to me (and while more credit lines are always nice, in my case it would be over-kill). It seems there have been more reports of folks having trouble getting two cards in the same day lately, with the second application not going through, so that's not the 'sure thing' it once was (although there are folks who are still successful...)

This all really depends on the pre-qual offers I have in January; if the offers aren't significantly better than what I have now, I'll simply wait. My last two baddies will age off next summer (finally...) so worst-case scenario is I'll just wait until then. Since I don't have another QS1 annual fee until July, I have some time to figure it all out.

Re: Capital One Experience

Anonymous — Sat, 17 Oct 2015 00:42:08 GMT

@UncleB wrote:
@Anonymous wrote:
@UncleB wrote:
@joshkm wrote:
@UncleB wrote:
@joshkm wrote:
@UncleB wrote:
@Anonymous wrote:
@joshkm wrote:

I wish I would have been able to get the EO to permanently remove the AF on my Quick Silver One.
Have you tried to PC the Quicksilver One MC to the Quicksilver MC?
For some folks the PC of a Quicksilver One MC to a Quicksilver is very elusive... I've been told for 3 years now that "there are no offers available at this time". My QS1 annual fee is $79, and they usually waive half of it, which means I'm still paying more than somebody with a new QS1 card. I've not closed the account because it's one of my oldest, and the APR is actually not bad (14.9%).

Now that we can merge/combine accounts, that seems to be the answer to both the AF and APR issues. The AF issue is usually workable (with an annual phone call for most) but if Capital One can ever figure out how to lower an APR without requiring the EO they will become even more competitive than they are now.
$79 that's high! How did you end up paying that? Was it another product before?

My QS1 AF was $29 and that was because it was a Platinum before I had it changed over. It always bugged me because a couple days after I apped for it I saw they lowered the AF on the Platinum to $19 or something like that.
Yeah, it was an HSBC/Orchard Bank Mastercard with 2% cash back. They lowered my cash back to 1.5% when it became a Quicksilver, but kept the AF the same. I would have closed it long ago, but it's one of my oldest cards (it's now eight years old) and I keep hoping they'll change their mind on the AF. I'm $80 away from breaking the $3k threshhold on the credit limit, and some folks here believe that will make it easier to PC to the Quicksilver.

We'll see... I'm up for a CLI in December. If they don't do the PC after that, I'll definitely merge it with my no-AF Quicksilver Visa Signature. There's no way I'm paying that fee (or even half of it) again.
It's hard to let go of your oldest TL. That was my dilemma too. Mine wasn't as old as yours though. 8 years is a long time. I knew the longer I held on to mine, the more I wouldn't want to close it, so I just did it and haven't regreted it. If I were in your shoes I don't know if I could close it, but I wouldn't want to be paying $80 a year for it either!

It's no fun being held hostage and paying ransom. I hope you have success with your CLI and getting rid of that fee!
Thanks!

I agree, it is a bit like being 'held hostage'... each year when I call, they are quick to remind me "with the age of your account and its perfect history, this is quite a strong account...". Strangely enough, it's the APR that makes me hesitant to close it, since it's my lowest at 14.9% (my next lowest is USAA at 16.9%).

This is really silly since I generally don't carry a balance, and even if I did for a short time the difference between 14.9 and 16.9 would be minuscule, but it's a psychological thing, I guess... LOL

Look for a thread from me around the holidays... I'm hoping to have good news around then!
This got me excited. Whatchya plottin' UncleB???????
LOL... well, I'm really 'thinking out loud' at this point, but while lots of folks go for high credit lines, right now I would actually prefer a card with a lower APR (I have all the available credit I need for my modest income).

Capital One has been fairly consistent with their offers to me the last few months, with the standard 17.9% Venture and QS offers always showing up, but lately they've also offered me a no-AF 'Platinum' MasterCard with a slightly lower APR... if that offer is still around in January or February, I might just have to pick it up and after six months merge my existing QS1 into it. At some point, I could probably even convert it to a QS, which would really just put me back where I am now, but with a lower APR.

Of course if I picked up the Venture I could take advantage of the sign up bonus, but after that it wouldn't be of much use to me (and while more credit lines are always nice, in my case it would be over-kill). It seems there have been more reports of folks having trouble getting two cards in the same day lately, with the second application not going through, so that's not the 'sure thing' it once was (although there are folks who are still successful...)

This all really depends on the pre-qual offers I have in January; if the offers aren't significantly better than what I have now, I'll simply wait. My last two baddies will age off next summer (finally...) so worst-case scenario is I'll just wait until then. Since I don't have another QS1 annual fee until July, I have some time to figure it all out.

Cool! Sorry OP for hijack.

UncleB, have you considered a credit union card, with a decent limit, low APR, and offers cash back?

Re: Capital One Experience

UncleB — Sat, 17 Oct 2015 01:10:40 GMT

@Anonymous wrote:

Cool! Sorry OP for hijack.

UncleB, have you considered a credit union card, with a decent limit, low APR, and offers cash back?

Yep, getting my NFCU membership in January (once my USAF brother gets his) and I plan to app for a card with them once the baddies drop off in summer/fall. I checked out their offerings just a week or so ago, and they advertise a low-APR MasterCard. I have no idea how much lower the rate would be compared to their rewards cards, but since I already have the QS (which is the same rewards-wise as NFCU) I'll probably just go for the MasterCard with the time comes.

Great minds think alike!