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Capital One Platinum Card started charging $59 membership fee. Need advice

Frequent Contributor

Re: Capital One Platinum Card started charging $59 membership fee. Need advice

I would just apply for a new card.  Does she have baddies on her report?  Is this her only card?

 

What comes up on the cap one prequal when you put her info?  Does she get pre qual's on chase or amex?

 

Sure she could get a quicksilver with no AF and start getting cash back at least.  Then just combine the cap one cards for a higher CL


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Message 11 of 25
Valued Member

Re: Capital One Platinum Card started charging $59 membership fee. Need advice

Have her request to pc it to a Quick Silver with no AF. It will still be a Mastercard but should lower the interest rate too. Use live chat while logged in the site
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USAA, NFCU, PenFed, Disco, BofA, Citi, Cap1, Amex, USbank, PP
Message 12 of 25
Established Contributor

Re: Capital One Platinum Card started charging $59 membership fee. Need advice


Do4You wrote:
Have her request to pc it to a Quick Silver with no AF. It will still be a Mastercard but should lower the interest rate too. Use live chat while logged in the site

I'd say either pc it or app for a new card, either another Plat or a QS (with a 653 score, she should be able to at least get a no-AF Plat), then combine into  the new card in 6 months (before the next AF is due)

 

Message 13 of 25
Member

Re: Capital One Platinum Card started charging $59 membership fee. Need advice

All great advice. I am going to have her first try the prequal on Cap1 and see what comes up. If it's the QS (first choice), or Plat, then have her get one of those. If it's the QS1 with the $39 she will have to decide for the lower interest and higher free she has now, or higher interest of the QS1 but lower fee.

She has no baddies and payment history is @ 100%, also she has other cards from Chase, Citi, Walmart, Sears, Target, etc. Hoping for at least Plat with no fee and PC it in 6 months as advised. Let's hope for the best!
Message 14 of 25
Established Contributor

Re: Capital One Platinum Card started charging $59 membership fee. Need advice


sarge12 wrote:

gsully00 wrote:

A creditor can change the terms of the agreement at any time but must send out notice of the impending change and you have the option of accepting and continue the relationship or not accept and close the account (and of course pay the balance).  So people mistake it as their statement and discard it (if you receive paper bills) or they give you an update on your electronic statement that might have been missed.

 

I could see the first year was waived but a second would be unlikely, best to request card agreement and decipher yourself.


I do not believe you would have to pay the carried balance in full, if any, to close the card and avoid the fees, I think the card would just not allow any new charges, and you could continue to make payments as agreed until it is eventually paid.


I never mentioned pay the balance in full.  When you close it just means you no longer have access to charge and you can continue to make monthly payments as long as your ok being charged interest.

" EX 689 EQ 691 TU 687 MMS 695"
Message 15 of 25
Highlighted
Frequent Contributor

Re: Capital One Platinum Card started charging $59 membership fee. Need advice

I had that card before they started charging the annual fee of $59. It was my first card and i had it for about 10 or 11 years before they started charging me. Perfect payment history. They refused to waive the fee or let me PC it to a no AF card. I had to apply for a new one althogether. I closed the account and would never consider them again for any credit.

Message 16 of 25
Established Contributor

Re: Capital One Platinum Card started charging $59 membership fee. Need advice

Go online and check statement for the past 6 years and documents also.
EX817:1[21] TU850:0 EQ(Fico8BC)879:0
Message 17 of 25
New Visitor

Re: Capital One Platinum Card started charging $59 membership fee. Need advice

I just got hit with that too!  I'm willing to bet it's because I pay off my bils monthly and actually make money by paying it off.  The funny thing is about a month ago I looked at my rewards, then get the $59 annual fee.  I'm putting all my CC's away except for this one now.  I'm going to run everything thru them now to offset the $59 fee.  I would imagine it will be $99 next year.

 

Wouldn't it be ilegal if they didn't raise everyones fee across the board?  

 

I've always wondered if the rich people  get big rewards on these type of cards...You know, the people who spend 50-100 k a month and payoff monthly.

 

Message 18 of 25
Established Contributor

Re: Capital One Platinum Card started charging $59 membership fee. Need advice


@RodEpic wrote:
All great advice. I am going to have her first try the prequal on Cap1 and see what comes up. If it's the QS (first choice), or Plat, then have her get one of those. If it's the QS1 with the $39 she will have to decide for the lower interest and higher free she has now, or higher interest of the QS1 but lower fee.

She has no baddies and payment history is @ 100%, also she has other cards from Chase, Citi, Walmart, Sears, Target, etc. Hoping for at least Plat with no fee and PC it in 6 months as advised. Let's hope for the best!

You don't have to wait 6 months. I've seen people do it after the first statement. I PC'd mine at month 4.



Message 19 of 25
Member

Re: Capital One Platinum Card started charging $59 membership fee. Need advice

Try this link for a Product Change.

 

It worked for me a week ago and has worked for others. 

https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

 

It's no garrentee but worth a shot.

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Message 20 of 25