Cap One Frustrations

[Anonymous]

My oldest line of credit is the Capital One Platinum (12 years and counting). They charge a $3 monthly fee and after 12 years my credit limit is still only $1,750. It drives me nuts.  I've tried several times to convert the account to a Quiksilver, but they are only willing to convert to the QS1 with a similar fee.

Now, I am prequalified for the regular QS on their site.  If I finally bite the bullet and apply for the QS, how likely is it that I would then be able to convert my platinum to the QS and drop the fee but keep all the years of history?

I've become very frustrated by my dealings with Cap One on this issue, but I feel like my hands are tied because it would be foolish to simply close my oldest line of credit.

[Anonymous]

I have had similar issues with Cap One, I just recently closed one of three cards with them with an annual fee and may do a second next month. Many people here will say to contact the EO for help with it as the front line CSR's can only do whatever is offered on the account at the time. I am not sure if I will go that far with my second and third card or not. In all honesty even the QS is not one I will use often, they don't like to give me CLI's with those cards, but they were happy to give me a Venture with a 15k SL. So mine will probably just be closed, not worth the hassel for the CL's they have.

If you do really want to keep the account I would suggest contacting the EO and explaining what you are asking for.

[CH-7-Mission-Accomplished]

---

@Anonymous wrote:

My oldest line of credit is the Capital One Platinum (12 years and counting). They charge a $3 monthly fee and after 12 years my credit limit is still only $1,750. It drives me nuts.  I've tried several times to convert the account to a Quiksilver, but they are only willing to convert to the QS1 with a similar fee.

Now, I am prequalified for the regular QS on their site.  If I finally bite the bullet and apply for the QS, how likely is it that I would then be able to convert my platinum to the QS and drop the fee but keep all the years of history?

I've become very frustrated by my dealings with Cap One on this issue, but I feel like my hands are tied because it would be foolish to simply close my oldest line of credit.

---

I would become a PITA to them until they waive that fee.  Then I would become a PIA to get the limit up.

I would contact the EO for sure.  Explain how long you have had it, perfect payment history, etc.  Tell them it is your oldest account and you want to keep it and they have given you a 15K Venture.  The only reason to charge the fee is to try to entice you to close the account.  This is unfair with FICO.

I would simultaneously go on the attack on their Facebook page.  I would start out nicely explaining what you want and see if you can get action. They do not want to have bad reviews based on their own bad policies.

If you use Twitter, connect there as well.  Complain, complain, and complain some more until your needs are met.  You are a good customer and they have no reason to do what they are doing.

If they don't give you the satisfaction you are asking for, become more shrill in your complaints in social media.  Do a negative Yelp review.

Sooner or later they will cave.

I would not let a 12 year old account go without a fight, but I agree you should not have to pay $3/month for a low limit account.

[Anonymous]

---

@Anonymous wrote:

My oldest line of credit is the Capital One Platinum (12 years and counting). They charge a $3 monthly fee and after 12 years my credit limit is still only $1,750. It drives me nuts.  I've tried several times to convert the account to a Quiksilver, but they are only willing to convert to the QS1 with a similar fee.

Now, I am prequalified for the regular QS on their site.  If I finally bite the bullet and apply for the QS, how likely is it that I would then be able to convert my platinum to the QS and drop the fee but keep all the years of history?

I've become very frustrated by my dealings with Cap One on this issue, but I feel like my hands are tied because it would be foolish to simply close my oldest line of credit.

---

I went through the same thing with my Cap One QS1, and it was also my oldest card, (technically, since my Amex is backdated). I closed it with no remorse.

[securingourfuture]

---

@Anonymous wrote:

My oldest line of credit is the Capital One Platinum (12 years and counting). They charge a $3 monthly fee and after 12 years my credit limit is still only $1,750. It drives me nuts.  I've tried several times to convert the account to a Quiksilver, but they are only willing to convert to the QS1 with a similar fee.

Now, I am prequalified for the regular QS on their site.  If I finally bite the bullet and apply for the QS, how likely is it that I would then be able to convert my platinum to the QS and drop the fee but keep all the years of history?

I've become very frustrated by my dealings with Cap One on this issue, but I feel like my hands are tied because it would be foolish to simply close my oldest line of credit.

---

Sorry about your problems with Cap One.  I just closed a card yesterday because the limits are so low and they refuse to budge.  It was a 5-year-old card (upgraded from Plat to QS1 w/ no AF last wk), so I know how you feel about giving up the history.  Before I totally walked away,  I apped for a Ventuire One and was approved.  I have not decided yet if I will call EO back to follow up on the CLI, or just SD the card.  I had asked for increase to $5K from $750.  Still no word after 8 days.

But...I wouldn't give up without a fight if I were you.  YOU are a loyal customer and they should try to accommodate you.  Best of luck!

[s73guy]

It's unfortunate, but Cap One has different "types" of cards.  Even though the actual card looks the same,  if you have a "steps program" or starter card there is a maximum CL that they will ever raise the card to.  That limit in my experience is $3,000.  If you apply for the regular QS card you may likely get a higher CL than your current card.  The new card will also be able to grow with you more.  Your current platinum card may be able to be changed to a QS, whenever Cap One decides they are willing to give you an upgrade.  I got an upgrade on my starter card after having the card for a couple years.  I have since closed the starter card, and now have a Venture with a $30k CL.  

It's very unfortunate, but that is their business model.  You can always get the new card and put one or two charges a month on the platinum until they upgrade you.  Just remember the platinum CL will only be able to grow so far.

[Anonymous]

Yea I had a cap1 plat which got capped at $1750 w a $39 AF. Asked for a CLI and they said no so I closed it. Think I was bothered more by the CSR not even blinking an eye and closing it immediately..

[Anonymous]

Cap One and I broke up yesterday..Im done and closed my three accounts with them. I would rather keep the 2 cards I have and grow them then mess with cap one because ultimately they will never really grow so there is no point to them. 

[taxi818]

I feel your pain op. but 1750 limit after 12 years?. wow. I know it is frustrating. but you have to know the parameters. If they offered to upgrade to Qs1. take it. as the Qs. No af. will require a 3k limit . if you take the Qs1. that card you have can grow to the 3k or more you are looking for. then you will be able to get it to qs. no af. in anycase. with that much history i would not be too worried about a few dollars im spending on AF. 3 dollars a month. you could close it. no affect on your score. as it is that old. or just pay the cash and let it continue to help your scores. either way win win for you. if you got the pre approval. jump on it. as they will give you a nice limit because of your history with them. good luck in whatever you decide. i have 3 cards with cap one.

My first platinum. like you. $800. i realized early on. the only way to get in good with them. is have multiple cards. Next card. i have in Venture. 5k. and then my Quicksilver. 5500. so all in all 11.3 k will cap one. but its all good. im not trying to put everything in with 1 lender. that is what i have with them. but my several other lenders. completes the profile. so as i said. its the way cap one operates. so you can go along with em. or tell them where to go. good luck