topic Re: Closing a New CC account? in Credit Cards

Closing a New CC account?

Anonymous — Fri, 05 Apr 2013 20:39:07 GMT

Well I opened a BBRZMC and the CL is $300, apr over 20% and a $59AF, this is such a joke of a card. I got it in the mail and didn't activate it yet, what should I do? Cancel the card or call them first and ask them what they can do?

Re: Closing a New CC account?

myjourney — Fri, 05 Apr 2013 20:42:09 GMT

@Anonymous wrote:
Well I opened a BBRZMC and the CL is $300, apr over 20% and a $59AF, this is such a joke of a card. I got it in the mail and didn't activate it yet, what should I do? Cancel the card or call them first and ask them what they can do?

Welcome to the forum

A call can't hurt before you decide...Good luck

Re: Closing a New CC account?

Anonymous — Fri, 05 Apr 2013 20:44:32 GMT

@Anonymous wrote:
Well I opened a BBRZMC and the CL is $300, apr over 20% and a $59AF, this is such a joke of a card. I got it in the mail and didn't activate it yet, what should I do? Cancel the card or call them first and ask them what they can do?

Account is already open, Activating the card is irrelevant. You need to call to close it, but not sure if you can get your $59 back. I assume you knew about the $59 before you applied, that is part of terms and conditions which you is shown before you submit the application.

Re: Closing a New CC account?

Anonymous — Fri, 05 Apr 2013 20:48:30 GMT

I don't think I was really paying attention, because with the BBRZ card there's I think 3 types and I didn't expect to get the worst one with the highest apr and an annual fee. I might as well keep the card for a year then. I mean $59 for a $300CL? I can't believe that. It was my ignorance though, so I guess I have to live with it, lol.

Re: Closing a New CC account?

sbluejean — Fri, 05 Apr 2013 22:49:20 GMT

I just called and canceled my Best Buy Rewardzone card which I've had for more than 2 years. Started with a $300 limit. One year later (while HSBC still had it) I called and got an immediate $500 increase. Now that Capital One has taken it over, credit line increases requested by GOD only means that you have friends in high places, not, that you will ever get an increase, which really bothered me in light of the fact that I've paid them like a slot machine for the last 2 plus years. Capital one is terrible when it comes to raising credit limits.

Since I opened that account I've gotten my Citi Preferred ($2,500), my Barclays NFL Extra Points ($2,500), and just got my AMEX Gold Preferred and my AMEX Blue SKy Preferred. I called Cap One to give them one last shot. When Habib answered and told me, "I am thanking you very much for your call, how can I be of excellent service?" I told him I just paid my accoount to a zero balance and want to cancel the card. He asked me why and told him because the limit is way too low and interferes with my average high credit limit ratings. He put me on hold, said he needed to verify my account info. I knew what he was doing, he's calling the credit center to see if they'll raise my limit in an effort to retain my business. after a couple of minutes, he came back on line and said okay, we'll cancel the account.

That call was made on the heels of canceling `my 2 First Premier cards I'd had for more than 3 years., now there, as soon as I mentioned "cancel" I was immediately transfered to a gentleman who asked, "What can we do to keep your business?" I politely told him that there wasn't anything he could offer, again, the lower limits interferred with my credit standing. (FP Card Limits only go as high as $1,500.00)

I said all that to say all this. ...Call them and cancel the card if you are not happy with it, because I promise you you'll play hell trying to raise limits on that card. I get C.C. offers all the time from Capital One, I wouldn't have another one of their cards if my life depended on it. ...Just sayin'

Re: Closing a New CC account?

scarzy — Fri, 05 Apr 2013 23:51:37 GMT

@Anonymous wrote:
Well I opened a BBRZMC and the CL is $300, apr over 20% and a $59AF, this is such a joke of a card. I got it in the mail and didn't activate it yet, what should I do? Cancel the card or call them first and ask them what they can do?

I got the card recently because Capital One is selling the Best Buy card's portfolio to Citibank. This was my chance to get good with Citi since I had a Citicard that was iib.

Well I emailed the Executive Office of Capital One's, and they permanently waived the AF. No cli, but I only had the card for a month. Good luck deciding..

side note: they did refund me 59 bucks!

Re: Closing a New CC account?

Anonymous — Fri, 05 Apr 2013 23:18:16 GMT

@Anonymous wrote:
I don't think I was really paying attention, because with the BBRZ card there's I think 3 types and I didn't expect to get the worst one with the highest apr and an annual fee. I might as well keep the card for a year then. I mean $59 for a $300CL? I can't believe that. It was my ignorance though, so I guess I have to live with it, lol.

I would still call and explain that you did realize there would be an annual fee. $59 AF is high and maybe they will close it without any AF or waive it maybe?

IMO, Worth a call.

Re: Closing a New CC account?

Anonymous — Fri, 05 Apr 2013 23:29:18 GMT

Check your PM College.

Re: Closing a New CC account?

texamel — Fri, 05 Apr 2013 23:47:44 GMT

I believe they have to refund you the $59 AF fee. I remember closing an account that had an annual fee and when it came up for renewal I cancelled and was refunded the fee. In any event I just closed a PayPal MC account because the interest rate was too high and the limit was too low and my score didn't drop any. I do, however, have a whole bunch of cards with limits totaling over $50,000 and my utilization is around 18%.

Re: Closing a New CC account?

Anonymous — Wed, 10 Apr 2013 19:00:57 GMT

sorry for waiting so long to post. I called Habib and they told me as long as no charges have been posted and I haven't swiped the card they could cancel it and refund my $59. Which in fact they did, now it's a zero balance and closed by consumer. is that going to hurt my credit? my utilization is about the same (+-10%) still.

Re: Closing a New CC account?

09Lexie — Wed, 10 Apr 2013 20:51:29 GMT

Closing the account does not hurt your CS if your util has not changed.

Who is Habib?

Re: Closing a New CC account?

tattooedhusker — Wed, 10 Apr 2013 21:05:28 GMT

Habib is the outsourced call center CSR's I believe lol

Re: Closing a New CC account?

09Lexie — Sun, 16 Jun 2013 07:40:19 GMT

I see. Let me refer OP to this thread

http://ficoforums.myfico.com/t5/Credit-Cards/PLEASE-READ-Posting-About-Foreign-Call-Center-Frustrations/td-p/96063

Re: Closing a New CC account?

Anonymous — Sun, 16 Jun 2013 07:35:08 GMT

I aplogize for bringing this topic back up but it's the best topic on the subject i could fine..........

I had recently applied for the BBRZMC and honestly didn't realize when I read the T&C on the Best Buy website, I was reading those for the general Store credit account. Naturally when I received it in the mail I called and asked If they could totally waive the AF this year and, if not, at least half the fee.

The first rep I spoke to was from overseas and when I asked about the aforementioned fee, they went off on a script of how they couldnt waive it per policy and so on....

I then called back and asked to speak to a representative stateside if they could waive the AF and while it didnt sound like they were reading a script, pretty much the same answer that they couldnt do it.

Fast forward to now, roughly 6 days later at 3am on the 16th.....I received an email with a tutorial of sort explaining how my rewards work, etc...so just for the heck of it I logged into the account online and it says my Avail Credit/Credit Line is $300. I figured, "ok they waived the fee bc i closed it, but usually it'll say something like $0.00 available/credit line"

At this point I proceeded to add the card to my Google Wallet just to see if I can, in fact, make a purchase by buying a song (Darius Rucker's Wagon Wheel if anyone is wondering ;-) ) Anyways, the transaction was approved and a few minutes later it showed up under pending charges. So instead of calling the regular customer service number on the back of the card, i called the "Outside of US" customer service number which is a 702 area code for customer service in Nevada. A very pleasant lady picked up the phone and I explained the entire scenario to her as I mentioned here.

She aplogized for the confusion and confirmed in fact the account is showing as open and active, that my available credit is $297.91 (after the song purchase), and that the annual fee was infact waived by someone in the customer service department.

I told her if that's the case, I'll keep the account open because that's what I wanted them to do in the first place was waive the fee and, much to my disbelief, they did.

Moral of the story: I'm not saying that the outsourced call centers are bad, but after a transaction with them, I would speak to a stateside representative if you can just to confirm your changes.

OK, I swear I'm done now :-)

Re: Closing a New CC account?

09Lexie — Sun, 16 Jun 2013 07:41:12 GMT

@AaronB

Welcome to the forum! Congrats on being persistent and getting that AF waived.

Re: Closing a New CC account?

Anonymous — Sun, 16 Jun 2013 07:48:44 GMT

Thanks!

The problem is is that I'm still wary whether it actually is going to be closed or not. I plan on taking it to Orlando at the end of the month as a backup card but dont want to get down there and get stuck. I guess my concern is that i've been told it is and it isnt closed....is there a way to confirm it isnt or should i just take their word for it because I spoke to someone on this side of the world? (No disrespect to overseas callreps

Re: Closing a New CC account?

09Lexie — Sun, 16 Jun 2013 07:56:07 GMT

How long has it been since you req it to be closed?

Re: Closing a New CC account?

Anonymous — Sun, 16 Jun 2013 07:59:38 GMT

If my memory serves me correctly, I believe it was last monday or tuesday when I called (10th or 11th).

Re: Closing a New CC account?

09Lexie — Sun, 16 Jun 2013 08:21:31 GMT

Normally, when a req is made the accounts are shut down immediately. That being said, I'd err on the side of caution and re-verify Mon.

Re: Closing a New CC account?

Anonymous — Sun, 16 Jun 2013 17:43:44 GMT

@09Lexie wrote:
I see. Let me refer OP to this thread

http://ficoforums.myfico.com/t5/Credit-Cards/PLEASE-READ-Posting-About-Foreign-Call-Center-Frustrations/td-p/96063

I don't think this really applies in the OPs defense. There is a call center called Habib and I don't see where the OP was making any disparging comments.