Cap 1 Membership Fee

[Anonymous]

Apparently I never noticed this before, but I got an alert for my statement and noticed the 29 and change membership fee. The card is SD, it is my secured card. I just got a couple big girl credit cards last month so I just planned to leave it open a couple months longer, not realizing the membership fee. I was literally about to close it. Any one had success waiving this? Thanks! 

[Anonymous]

Have you asked if they will graduate, or Product change the secured card?  That way you can keep it open.  I have no idea if Cap1 will do it though.  Closing it wont hurt your score in the long run, but in the immediate, if the rest of your currently open accounts are new, you may notice a small drop. 

[Anonymous]

Capital One doesn't graduate their secured cards.  The "membership fee" is your annual fee on your secured card.

You may have luck with getting the fee reversed if you call them soon and tell them to look at it - you haven't used it in forever, you want to close it, etc.

Especially if you already have anohter Capital One card in your wallet - they can be pretty easy to work with if you are a solid customer.  And even if you get a less=than-helpful customer service rep, pay the fee and close it anyway - you'll get your security back, of course, and not have to worry about account limits (if you're using Capital One for other accounts) or future unexpected fees on the old card.

[RonM21]

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@Anonymous wrote:

Capital One doesn't graduate their secured cards.  The "membership fee" is your annual fee on your secured card.

You may have luck with getting the fee reversed if you call them soon and tell them to look at it - you haven't used it in forever, you want to close it, etc.

Especially if you already have anohter Capital One card in your wallet - they can be pretty easy to work with if you are a solid customer.  And even if you get a less=than-helpful customer service rep, pay the fee and close it anyway - you'll get your security back, of course, and not have to worry about account limits (if you're using Capital One for other accounts) or future unexpected fees on the old card.

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+1

Some have had success getting them to.waive it. But ymmv there. 

[Anonymous]

I have called 2 years in a row and they have waived it as a courtesy just call and they'll waive it. Good luck,

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@RM21 wrote:

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@Anonymous wrote:

Capital One doesn't graduate their secured cards.  The "membership fee" is your annual fee on your secured card.

You may have luck with getting the fee reversed if you call them soon and tell them to look at it - you haven't used it in forever, you want to close it, etc.

Especially if you already have anohter Capital One card in your wallet - they can be pretty easy to work with if you are a solid customer.  And even if you get a less=than-helpful customer service rep, pay the fee and close it anyway - you'll get your security back, of course, and not have to worry about account limits (if you're using Capital One for other accounts) or future unexpected fees on the old card.

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+1

Some have had success getting them to.waive it. But ymmv there. 

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