topic Re: Dump Capital One? in General Credit Topics

Dump Capital One?

Anonymous — Fri, 06 Jul 2007 21:40:36 GMT

Ok....I have three CAP1 cards that I have had for five years now..,two of the limits are stuck at $500 and the other at $300 all with annual fees and 0 balances... I have to HSBC cards with a total limit on both of $800 no annual fee and $0 balances and a WAMU with a $5000 limit..Recently I was approved for Amex Blue with a $5000 limit...and a couple other amex that are yet pending...Soooooo...I am thinking that I should cancel the three CAP1'S since they don't report limits, have fees, etc...and even if they increase my limits they still won't report..Do you guys think I should do this...worries me because my CAP1's are my oldest cards at five years...Never had a single late on the CAP1's or the HBSC so I don't get them...

Re: Dump Capital One?

SmartCookie — Fri, 06 Jul 2007 21:43:32 GMT

Cap1 'should' start reporting CLs by the end of the year.

Did you call them to see if they can upgrade your cards to something with no annual fee yet? Try that first. Be honest and say you are debating closing them because of the fees.... other companies are giving you great cards with no fee etc.

Good luck, let us know.

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 21:45:42 GMT

Call them and ask for an upgrade and personally, I'd keep them open if they're your oldest at still only 5 years.

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 21:52:37 GMT

I called them and asked and specifically pointed to my perfect record on all three cards and they politely told me they "review at regular intervals"......you know the deal...well I can't see how that can be after five dang years...

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 21:55:34 GMT

ObsessedwithmyFico wrote:
I called them and asked and specifically pointed to my perfect record on all three cards and they politely told me they "review at regular intervals"......you know the deal...well I can't see how that can be after five dang years...

Did you try playing Marvin Gaye for the CSRep?

Re: Dump Capital One?

SmartCookie — Fri, 06 Jul 2007 21:59:15 GMT

trinigal wrote:

ObsessedwithmyFico wrote:
I called them and asked and specifically pointed to my perfect record on all three cards and they politely told me they "review at regular intervals"......you know the deal...well I can't see how that can be after five dang years...

Did you try playing Marvin Gaye for the CSRep?

Hey we have MisseyElliot now too! Let's put her to work. Hrm... ok not the same Marvin Gaye effect.... nevermind! But hey she's with us now, let's put her to work!

Re: Dump Capital One?

SmartCookie — Fri, 06 Jul 2007 22:01:57 GMT

ObsessedwithmyFico wrote:
I called them and asked and specifically pointed to my perfect record on all three cards and they politely told me they "review at regular intervals"......you know the deal...well I can't see how that can be after five dang years...

I know this is so easy for me to say since I'm not sitting there making the calls but... try again, get a supervisor, insist they do something for you. You are in great standing with them and you have nothing to lose. If repeated calls don't work write a letter.

Generally speaking, close cards that have an annual fee if you don't need or use them. Especially sub-prime cards. The thing is, as trinigal alluded to... this might be a needed TL that is worth the money. It's your call on it. But squeak good and loud to Cap1!!!

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:03:11 GMT

Doing my Marvin Gaye thing now...brb

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:03:35 GMT

SmartCookie wrote:

Hey we have MisseyElliot now too! Let's put her to work. Hrm... ok not the same Marvin Gaye effect.... nevermind! But hey she's with us now, let's put her to work!

While she's great, I'm a little concerned about the effect. Maybe she could work for the CAs??

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:05:44 GMT

SmartCookie wrote:

But squeak good and loud to Cap1!!!

IF Marvin doesn't work. Cause if he doesn't put em in a good mood, nothing will

Message Edited by trinigal on 07-06-2007 03:05 PM

Re: Dump Capital One?

SmartCookie — Fri, 06 Jul 2007 22:05:41 GMT

trinigal wrote:

SmartCookie wrote:

Hey we have MisseyElliot now too! Let's put her to work. Hrm... ok not the same Marvin Gaye effect.... nevermind! But hey she's with us now, let's put her to work!

While she's great, I'm a little concerned about the effect. Maybe she could work for the CAs??

LMBO!!! ooh trinigal, pass those candles and lotions over to Obsessed... quick before the rep comes on the line!

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:12:17 GMT

***sigh****....ok all I succeeded in doing was getting all three annual fees waived..Supervisor Anthony gave me the whole "we review on a regular basis" story...while at the same time acknowleging my absolutely perfect record and $0 balance and told me to be patient...So since the fees are waived, I guess I will leave them at $0 and let them continue to collect dust.

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:16:13 GMT

Come on now! Let's flip this a little and really look at it objectively.

You're not really going to use the cards anyways. And now Cap One is now going to work for you for the next year for free! Meanwhile, your new cards are going to catch their footing and start working for you as well.

Gotta play the game hon...

Smile

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:18:42 GMT

LOL!!! Imma play the game...keep the cards fee free...not use them...piss em off...lol....not helping me anyway until they actually report limits....

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:20:55 GMT

ObsessedwithmyFico wrote:
LOL!!! Imma play the game...keep the cards fee free...not use them...piss em off...lol....not helping me anyway until they actually report limits....

And if they do that within the next year, they will be working for you for free!

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:20:58 GMT

and I'm still laughing because he told me if I wanted to make a big purchase to just use all three cards......lol....

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:22:32 GMT

ObsessedwithmyFico wrote:
and I'm still laughing because he told me if I wanted to make a big purchase to just use all three cards......lol....

Pffff, of course!!!

That would have been the appropriate time to put on the MissyElliot as Smartcookie suggested.

Re: Dump Capital One?

Anonymous — Fri, 06 Jul 2007 22:23:12 GMT

I wouldn't close them since they are your oldest trade lines. It is possible that your overall score will lower if you cancel as it will reduce your age of accounts. The great thing is that you got all the annual fees waived. You may want to only charge 15-20 per month and pay it off in full. That may get them in the mood so to speak to properly reward your excellent credit habits and loyalty. Ciao

Re: Dump Capital One?

SmartCookie — Fri, 06 Jul 2007 22:25:35 GMT

ObsessedwithmyFico wrote:
***sigh****....ok all I succeeded in doing was getting all three annual fees waived..Supervisor Anthony gave me the whole "we review on a regular basis" story...while at the same time acknowleging my absolutely perfect record and $0 balance and told me to be patient...So since the fees are waived, I guess I will leave them at $0 and let them continue to collect dust.

And you aren't revved??? <wet noodle flogging> That's awesome!!!! If they are still being idiots about CL increases consider asking them to roll over all CL to that oldest card. Another day though... this is great!!! WTG!

Re: Dump Capital One?

SmartCookie — Fri, 06 Jul 2007 22:27:38 GMT

ObsessedwithmyFico wrote:
and I'm still laughing because he told me if I wanted to make a big purchase to just use all three cards......lol....

LOL "Mmmkay Anthony I'll get *right* on that".