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
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)
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.
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.
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.
Try this link for a Product Change.
It worked for me a week ago and has worked for others.
It's no garrentee but worth a shot.