topic Re: CaptialOne Annual Membership Fee? in Credit Cards

CaptialOne Annual Membership Fee?

JetOneTV — Tue, 10 Sep 2019 10:13:58 GMT

Hi everyone, I have a small question for the wife's credit card.

When I was trying to get her credit good years ago, she was able to get this following card below

Platinum Mastercard

Current Purchase APR
Current Purchase APR	25.15%Variable

Fees
Annual Membership Fee	$29.00
Over-Limit Fee	No Fee
Late Fee	$38
Foreign Transaction Fee	No Fee

Cash Advance
Cash Advance APR	25.15%Variable
Cash Advance Fee	$10 or 3%
Cash Advance Limit	$100.00
Available Cash	$100.00

I don't understand if this card is charging her a fee or not... viewing the website shows only the following cards.

https://www.capitalone.com/credit-cards/compare/results/?pid=PLATINUM&pid=SECUREDCARD

even using this chart they have on there website I've not seen it say "Annual Fee".

My question is: Should she get rid of this credit card?

Thank You for any advice.

Re: CaptialOne Annual Membership Fee?

Anonymous — Tue, 10 Sep 2019 10:43:52 GMT

That’s one of the old Platinum cards that came with a $29 AF. I had one of those. You can try to PC it.

https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

Re: CaptialOne Annual Membership Fee?

HeavenOhio — Tue, 10 Sep 2019 13:20:39 GMT

Yeah, it's a product that's no longer offered.

She isn't going to want to keep on paying this fee forever. But because of the card's age, it may be worth putting some time and effort into trying to upgrade before giving up and deciding to close.

The problem is that it's difficult to upgrade to no-fee cards from subprime Capital One cards with fees. I'd bet that she has an offer to upgrade to a QuicksilverOne (QS1) right now. If that's the case, she'd likely continue to pay the $29 fee rather than the current $39 QS1 fee. But what she really wants is a no-fee card. Quicksilver (QS) is probably the best choice, but any no-fee card will do.

Is she using the card? If not, she should start using it each and every month. It can be for something small, and a positive balance doesn't need to cut on the statement. Just make sure that each statement shows a payment. I was able to upgrade two QuicksilverOne cards after 12 or 13 consecutive months of usage.

The question I can't answer is whether or not she should accept a QS1 offer as an interim solution. There isn't a lot of data on these ancient cards. Accepting a product-change (PC) offer means that there won't be any more upgrade offers for at least six months.

How old is this card compared to her other cards?

Re: CaptialOne Annual Membership Fee?

JetOneTV — Tue, 10 Sep 2019 14:01:26 GMT

According to "CreditKarma". - The account has been open since "Oct 04, 2014 (4 yrs, 11 mos)"

These is her accounts she currently has with dates, I'm not good at charts so sorry for that.

CAPITAL ONE BANK USA NA - Credit limit $500 - Opened Oct 04, 2014 (4 yrs, 11 mos)

CITICARDS CBNA* - Credit limit $4,750 - Opened Sep 19, 2014 (4 yrs, 11 mos)

JPMCB CARD SERVICES - Credit limit $1,800 - Opened Dec 28, 2015 (3 yrs, 8 mos)

US BANK - Credit limit $5,500 - Opened Nov 01, 2016 (2 yrs, 10 mos)

SYNCB/CARE CREDIT - Credit limit $1,700 - Opened Nov 30, 2016 (2 yrs, 9 mos) - (PET CARE)

ARROWHEAD CREDIT UNION - Credit limit $2,500 - Opened Jul 26, 2017 (2 yrs, 1 mos)

BANK OF AMERICA - Credit limit $2,200 - Opened Nov 30, 2017 (1 yrs, 9 mos)

PENTAGON FCU - Credit limit $500 - Opened Jan 09, 2019 (8 mos)

Total Credit = $19,450‬ (if you add my own Credit Card from Citi DoubleCash.)

CITICARDS CBNA = (DoubleCash Card - This is actually my card.) - We both use this card together and pay it off each month for all normal purchases.

This should be it as far as credit cards her go, you see she was never good with credit or had credit knowledge in the past. I basically attempted to make her credit better when we met years ago and this is the best that I got her at so far. I know CreditKarma Credit Scores isn't the best but here is the scores they have for her anyways.

Credit Karma

TRANSUNION ↑ 1 point - 773 Excellent EQUIFAX - ↑ 1 point - 764 Excellent

Updated Sep 10, 2019 • Calculated using VantageScore 3.0

Thank You, Also should she upgrade the credit to remove the annual fee? (honestly I don't like fees, and always told her about it.)

Re: CaptialOne Annual Membership Fee?

HeavenOhio — Tue, 10 Sep 2019 15:03:36 GMT

I'm surprised to learn that Capital One was still offering the fee-based Platinum as late as 2014.

The thing to be most concerned about is Age of Oldest Account (AoOA), and she's well covered in that department. She has a card that's the same age, a card that's only four months younger, and three more cards that are between two and three years old. Some people have a gap of a decade or more between their oldest and second oldest accounts.

In your case, I'd check for upgrade offers. If you can get a no-fee offer, the card can stay. If you can't lose the fee, the card can go.

Re: CaptialOne Annual Membership Fee?

Queen_Etherea — Tue, 10 Sep 2019 15:51:27 GMT

@JetOneTV wrote:
According to "CreditKarma". - The account has been open since "Oct 04, 2014 (4 yrs, 11 mos)"

These is her accounts she currently has with dates, I'm not good at charts so sorry for that.

CAPITAL ONE BANK USA NA - Credit limit $500 - Opened Oct 04, 2014 (4 yrs, 11 mos)
CITICARDS CBNA* - Credit limit $4,750 - Opened Sep 19, 2014 (4 yrs, 11 mos)
JPMCB CARD SERVICES - Credit limit $1,800 - Opened Dec 28, 2015 (3 yrs, 8 mos)
US BANK - Credit limit $5,500 - Opened Nov 01, 2016 (2 yrs, 10 mos)
SYNCB/CARE CREDIT - Credit limit $1,700 - Opened Nov 30, 2016 (2 yrs, 9 mos) - (PET CARE)
ARROWHEAD CREDIT UNION - Credit limit $2,500 - Opened Jul 26, 2017 (2 yrs, 1 mos)
BANK OF AMERICA - Credit limit $2,200 - Opened Nov 30, 2017 (1 yrs, 9 mos)
PENTAGON FCU - Credit limit $500 - Opened Jan 09, 2019 (8 mos)

Total Credit = $19,450‬ (if you add my own Credit Card from Citi DoubleCash.)

CITICARDS CBNA = (DoubleCash Card - This is actually my card.) - We both use this card together and pay it off each month for all normal purchases.

This should be it as far as credit cards her go, you see she was never good with credit or had credit knowledge in the past. I basically attempted to make her credit better when we met years ago and this is the best that I got her at so far. I know CreditKarma Credit Scores isn't the best but here is the scores they have for her anyways.

Credit Karma
TRANSUNION ↑ 1 point - 773 Excellent EQUIFAX - ↑ 1 point - 764 Excellent
Updated Sep 10, 2019 • Calculated using VantageScore 3.0

Thank You, Also should she upgrade the credit to remove the annual fee? (honestly I don't like fees, and always told her about it.)

Just a little FYI, you can try hitting the "Request More" button for the CareCredit card. They're usually pretty generous with their limits and it's always a soft pull. I've hit that button so many times, I've lost count, but I've managed to get my card up to $15,600 in less than a year. I did the same thing with my fiance's Sleep Number card (also Synchrony).

She seems to have good scores, so it really doesn't hurt to try. I'm never going to use that full limit, but it certainly helps pad any utilization I may have to carry. It could certainly help your wife especially since she has smaller limits on most of her cards.

Re: CaptialOne Annual Membership Fee?

JetOneTV — Tue, 10 Sep 2019 16:11:43 GMT

I've tried talking to them and they wouldn't so I simply checked to see what she would get after all these years.

She's been approved!!! -

Earn unlimited 1.5% cash back on every purchase, every day

Earn a one-time $150 cash bonus once you spend $500 on purchases within 3 months from account opening*

Current Purchase APR 0% Expires Dec 22, 2020
After December 22, 2020, your APR will be a variable rate that currently equals 22.24%.

Annual Membership Fee No Fee
Over-Limit Fee No Fee
Late Fee $39
Foreign Transaction Fee No Fee
Cash Advance More info
Cash Advance APR 26.24%
Cash Advance Fee $10 or 3%
Cash Advance Limit $1,800.00

So get rid of the old card I suppose? no point in paying the fee anymore right?

Re: CaptialOne Annual Membership Fee?

JetOneTV — Tue, 10 Sep 2019 16:28:39 GMT

Dude, I went ahead and did it for my wife. you would never guess!!!!

Need to make a picture of this again... ---- Request a Credit Limit Increase =

CARECREDIT / SYNCHRONY BANK

Re: CaptialOne Annual Membership Fee?

FinStar — Tue, 10 Sep 2019 21:46:07 GMT

Congrats on DW's approval and CLI request success OP.

Locking this thread as she has been approved for both. Feel free to start a new approval thread in the Approvals forum if you would like to do so for DW.