Glad you got thru to EO. If they can't waive the AFs permanantly or PC any of them to a no-fee product, then I would cancel all three. CLIs are irrelevant, given your new accounts.
I realize they are your oldest cards but you will end up shelling out 60+ bucks a year forever! And as others noted, they will still factor into AAoA for 10 years after closing.
@spritezero1017 wrote:Well that was quick. I emailed CapOne EO at 2:30pm EST and at 5:00pm they called me. The gentleman was very nice, very talkative and servicey. Took some general info (salary, housing payment) and asked what I would like the increase on my three low-limit cards to be. I asked that they match the line on my Venture card which is 5K. This is surely a ridiculous request but why not ask? He asked if I would be willing to accept a partial increase if they couldn't approve the full requested amount. I said that depended on the amount and if it made sense for me but the full requested amount on those cards would allow me to keep a lot of my credit business with CapOne.
He said he would be submitting the request to an underwriter for a review and I'd have an answer within 5 business days. He assured me only a soft pull is involved.
For a soft pull and a half hour of my time on a Friday afternoon I'll let them look at it. I'll reassess when they present an offer and am completely prepared to just close 'em up if they don't work for me.
They're pretty good at calling you back, hoping they'll bring some good news for ya.
IMO, even if you don't get the full CLIs + AFs being waived, i wouldn't close all three cards..i would still keep the QS open and close the other 2 and ask them to waive the AF on the QS. QS is a great card and 1.5% cashback on all purchases seems pretty good compared to some other cards.
@yudeology101 wrote:
@spritezero1017 wrote:Hello. I have 4 Cap One cards. I recently made a very large leap from building cards to premium cards. I have a new Venture card with a 5K limit and 3 CapOne cards from my early days. Their annual fees are not really in line with their credit limits for me anymore. They are:
1. $750 Limit - $39 AF
2. $750 Limit - $19 AF
3. $300 Limit - $60 AF (!!!)
Contact Cap1 EO and see if you can get the AF removed for all above accounts.
Concerning that last one, I just chatted with a CapOne rep who said they could not waive the annual fee (Contact EO via FB or Email and they'll call you back) I asked about a soft pull increase request. He directed me to their website and assured me their increases are not hard pulls. So I did that to see if I could get an increase that made the AF make more sense for me. They offered a whopping $500 increase. So the line would be $800 with the $60 annual fee. Still really awful so I decline the increase with the intention of probably closing that account.
My recent cards are Citi AAdvantage, AMEX Blue, Discover, CSP, Barcaly's Arrival, Venture, DCU & Wells Fargo. Total new credit lines = $45,000K.
I'm assuming it makes sense to cacnel this stupid $300 CapOne and perhaps the others?
(BTW - also definitely going away is my Credit One with it's $96 AF on a $1200 line). Tired of paying and babysittiing piddling $5 and $8 a month fees.)
Any insight would be appreciated. Thanks.
You have some good cards under your belt, and i'm sure unless Cap1 gives you the CLI on your $300, there's no use. Contact the EO and see if you can get CLIs on all your cards and also have them waive the AFs.
If you decide to close them, those closed accounts will still stay on your CR for 10yrs and still will be factored in, so you don't have to worry about your AAoA.
@yudeology101 wrote:
@spritezero1017 wrote:Hello. I have 4 Cap One cards. I recently made a very large leap from building cards to premium cards. I have a new Venture card with a 5K limit and 3 CapOne cards from my early days. Their annual fees are not really in line with their credit limits for me anymore. They are:
1. $750 Limit - $39 AF
2. $750 Limit - $19 AF
3. $300 Limit - $60 AF (!!!)
Contact Cap1 EO and see if you can get the AF removed for all above accounts.
Concerning that last one, I just chatted with a CapOne rep who said they could not waive the annual fee (Contact EO via FB or Email and they'll call you back) I asked about a soft pull increase request. He directed me to their website and assured me their increases are not hard pulls. So I did that to see if I could get an increase that made the AF make more sense for me. They offered a whopping $500 increase. So the line would be $800 with the $60 annual fee. Still really awful so I decline the increase with the intention of probably closing that account.
My recent cards are Citi AAdvantage, AMEX Blue, Discover, CSP, Barcaly's Arrival, Venture, DCU & Wells Fargo. Total new credit lines = $45,000K.
I'm assuming it makes sense to cacnel this stupid $300 CapOne and perhaps the others?
(BTW - also definitely going away is my Credit One with it's $96 AF on a $1200 line). Tired of paying and babysittiing piddling $5 and $8 a month fees.)
Any insight would be appreciated. Thanks.
You have some good cards under your belt, and i'm sure unless Cap1 gives you the CLI on your $300, there's no use. Contact the EO and see if you can get CLIs on all your cards and also have them waive the AFs.
If you decide to close them, those closed accounts will still stay on your CR for 10yrs and still will be factored in, so you don't have to worry about your AAoA.
+1000
@spritezero1017 wrote:Just for kicks, I did email CapOne EO and explained my situation and asked for a manual review of my accounts for CLI which would be more in line with my current credit status and my other credit lines with both CapOne (my Vetnure card) and others I have. I expect neither a waiving of my fees nor the CLI but what the heck, why not make a case and ask. I will mostly likely close all three if I get the "sorry, guy" answer I mostly expect.
Also will be closing my CreditOne next week (CL of $1050 with an AF of $96).
I received credit one mail offer and I tore up the card and mailed it back with big fat "LOL YOU WISH".
Close that sucker PLEASE!!!
@spritezero1017 wrote:The oldest is the $300 card with the $60 AF.
I didn't even know that Cap1 had a annual fee of 60 on any cards.... thats crazy.
@sexy_kitten7 wrote:Glad you got thru to EO. If they can't waive the AFs permanantly or PC any of them to a no-fee product, then I would cancel all three. CLIs are irrelevant, given your new accounts.
I realize they are your oldest cards but you will end up shelling out 60+ bucks a year forever! And as others noted, they will still factor into AAoA for 10 years after closing.
+1 Sexy