Converting Cap 1?

[John060675]

I have a Cap 1 card that charges $39 per year in fees, and its CL is $500.  Has anyone ever tried to convert to the Platinum card with no annual fees from the annual fee CC's?  If so, please describe the process and if they hard inquired you. 

All I have read on the forum is people cancelling their CC's with Cap 1.  This is not a bad option, but I was just wondering about other options.

Thank you.

[Anonymous]

Have you tried their account specialist?
800-889-9939

Some cards are convertible to others some not.

Have you read - http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=9035&view=by_date_ascending&page=4

[John060675]

Thanks Timothy,

I will try to call.  I do not think I will threaten to cancel my CC though.  I am not very good at threats.  It seems it worked for others though with their CLI. 

[Anonymous]

I did not even mention "cancel"

I just asked for "everything" I wanted.

[Anonymous]

Hey John I have that same limit and same AF with Cap1. I recently called them to try and have them remove the AF all together and they transferred me to an account specialist. However, after I was done asking for everything I wanted she asked what was my primary concern with my account at that time. I told her I didn't want the AF any longer and she credited my account for the $39 but she didn't remove it from my account. I don't have much bargaining power, I always had that card maxed out and I recently paid down 90% of my overall debt to get my scores to jump 80 points or so. So I didn't really threaten to cancel the card or anything, I might call again to hope to get someone else and maybe a CLI and rate reduction. But I'm not sure, good luck with getting a better Deal!

[John060675]

Thank you all for the info.  I think I will try this morning to convert it.  Will post the results

[John060675]

I just called Cap 1 to convert the CC over to a none fee card.  The first person I spoke with said that she would have to transfer me.  Then out of the blue she said that she was going to up my credit limit to $1000 from $500 to reward my good payment history. 

I have called 2 times to have the CL raised and they said no, but now out of the blue they offer me this without even asking.  I really thought I was on a roll!

Then I was transfered to an account specialist.  She said that my card could not be converted to the Platinum Plus CC, because they are two separate benefits cards.  She said I would have to reapply and that I could not convert to a non fee card from mine.

Is she just blowing smoke or is this true?  I do feel a little better with the CL increase though.

Thanks

[Anonymous]

Good luck! I have 2 cards with them. One is $800 limit and the second one with $5000 Cl and a $60 yearly fee. I tried to call them, and they did this analisys as: How many cards you have? Why do you use them? Are they for emergency?...etc... and in the end they did not remove the fee and told me, It was because of my benefits on this card. Crazy account specialist, and his bull**bleep**. I will call again, and again...until I am good in this freaken negociations!!!

[Anonymous]

Same situation. I got $700 CL and $39 annual fee. I called them yesterday to convert but same reason. They would want me to apply for another cc before they close it. They just want to make sure I'll open a new one.