Crap 1 struck again

Anonymous · ‎10-07-2008

UNBELIVEABLE!

Is there such a thing as customer service anymore?

I have been fighting with cap 1 over a BS annual fee.

Well now I am told it will be $45.00 instead of the $39.00 it was last year.

I received no notice that it was increasing.

I'm about to pay off my balance and close this card except that I will lose the average age if I do and it will effect my overall util

Does anyone have any idea on how to solve this? besides closing the account?

Anonymous · ‎10-07-2008

You have to ask yourself, "is the credit line worth the fee"? Will closing it hurt your utilization.

Closing it will not hurt your aging but will hurt util. How long have you had this card? It took me 6 years to get fee waived.

wmarat · ‎10-07-2008

IMHO, no credit line is worth AF, including AMEX cahrge cards.

A lender makes money on each transaction and it should be enough.

IN VINO VERITAS.

voidman · ‎10-07-2008

@wmarat wrote:
IMHO, no credit line is worth AF, including AMEX cahrge cards.
A lender makes money on each transaction and it should be enough.

yes I agree with you, You pay AF if you want to "rent" the credit limit the CCC gives you. No way I am going to pay $125 for Amex Charge cards.

-void

Anonymous · ‎10-07-2008

Trash them.

Anonymous · ‎10-07-2008

Have you ever heard an evil laugh from those old Scooby Doo cartoons.... yep, I just did that laugh! At least they gave you a card to complain about.

Miner · ‎10-07-2008

I dumped all my AF cards years ago and will never get one again unless I'm in a situation where I can't get anything else or the card offers me something worth more then the fee.

I vote for dumping it (providing you can get a better card) as sometimes you have to do what is smart for your finances instead of your credit score.

Closing the card won't hurt your age unless you have to open a new one to replace it. It may effect your util. since the CL will be gone from the calculations.

Message Edited by Miner on 10-07-2008 04:05 PM

Current FICO8: EQ:782, TU:754, EX:767 | 1x 30 day late 6yrs ago
AAoA: 10 years; AAoOA: 13 months; Credit Length: 21 years
INQ Eq: 3 / Tu: 5 (4 for auto) / Ex: 9 (5 for auto)

Anonymous · ‎10-08-2008

I despise Crap1 with every fiber of my being. So, I'm going to don my ski mask, and give you the direct extension to a guy in their executive offices... When he asks where you got his number, tell him that you called the corp. HQ in MacLean, VA and got it from media relations...

(804) 968-3387

And, if you want the name & direct mailing address (vs. the "General Correspondence" one) of one of their principals, just PM me, and I'll send you that to.

ETA: The guy at the number above is above their ridiculous excuse for a "customer service" call center. He CAN resolve your issue.
@Anonymous wrote:
UNBELIVEABLE!

Is there such a thing as customer service anymore?

I have been fighting with cap 1 over a BS annual fee.

Well now I am told it will be $45.00 instead of the $39.00 it was last year.

I received no notice that it was increasing.

I'm about to pay off my balance and close this card except that I will lose the average age if I do and it will effect my overall util

Does anyone have any idea on how to solve this? besides closing the account?

Message Edited by LilMirth on 10-08-2008 06:36 AM

Anonymous · ‎10-08-2008

i've been struggling to decide whether to close my capital one card or not for a while now. It is my oldest account (6 years) and it is still sitting at $500 with an annual fee.

i have these other cards/bal/age

Orchard bank $1000 (5 years and annual fee)

HSBC Gateway $900 (1 year, financed my laptop, will never use this again and it will likely close on me)

Discover $4000 (less than a year)

Bank of America $3000 (less than a year)

i'm not so much worried of losing my available credit as i am the age of my accounts. What would you guys do?

Anonymous · ‎10-08-2008

@Anonymous wrote:

Orchard bank $1000 (5 years and annual fee)
HSBC Gateway $900 (1 year, financed my laptop, will never use this again and it will likely close on me)
Discover $4000 (less than a year)
Bank of America $3000 (less than a year)

You have some good cards there. I am not sure how bad an age ding hurts since I am just starting out with credit, but only a $500 limit after being with them six years doesn't seem worth it.