I wanted to share my experience with CapOne. I sent them a message via FB as I've heard quite a bit of success utilizing this route. I asked them to consider PC'ing my two recently "upgraded" accounts to accounts without annual fees and simply inquired about combining my credit lines to eliminate even one of the AF's. I've had an HSBC/Orchard account since Nov of 2010 and opened a Platinum card in July 2012. In Dec of 2013, they agreed to PC both cards but when I got them, they were QuickSilver Ones but carried over the Orchard AF of $79 and kept the $19 AF of the Platinum. Since opening both accounts, I've improved my credit by leaps and bounds and qualify for better cards. I mentioned that I would like my cards to grow with me. Here's their response copied and pasted straight from FB with my first name edited for privacy and the initials of the person responding X'ed out:
Thanks for taking the time to reach out to us, XXXXXX. We definitely understand wanting cards that will grow with you. Since the annual fee is a part of the terms and conditions, typically, we cannot waive the fee unless the account was closed. At this point in time, we do not have a way to combine credit lines either. If you are interested in requesting a credit limit increase to maximize spending power, you may submit your request online at www.capitalone.com by logging in with your username and password to click "Services" for "Request a Credit Line Increase". From there you'll be able to submit your financial situation for review. XX
I'm not sure I really understand the "waive the fee unless the account was closed" part unless they are saying, "if you don't want an annual fee, close your accounts". Having a Discover IT card and dealing with some of the best customer service in the industry, I think I'll close these. They are my oldest revolving accounts and account for 2 of my 3 revolving accounts but I don't see these cards going anywhere. I just paid them both off and once they report same, I plan to pull the trigger on a Freedom and one other card to replace them and I think I'm done. I do greatly appreciate them giving me the opportunity to build my revolving history but their level of customer service just don't work for me anymore.
Thoughts?
@Anonymous wrote:
Contact executive office and get those fees waived. You have been with them much longer than I have. I have no doubts the EO well be your best bet. They are MUCH better service than normal CSRs.
+1 if you want to keep the card.
I burned a Cap-1 last month on 1 opened 01/11 because they would not waive the fee and I did not go the EO route (didnt need the 2750 CL anymore), I have one more left an HSBC convert (an absurd 900 CL) that comes due in May for the AF, I will burn it as well if they dont waive the fee. The cap-1s were my oldest and lowest CLs of all my bankcards. Just last month I obtained 22k in new credit so the loss of less than 4K is no biggie...
The EO permanently removed my AF, less than a month after I was 'upgraded' to Quicksilver One. I used the e-mail route.
