Crap1 finally (a little bit of) success

[Anonymous]

Similar to many of you, I have been saddled with a Capital One "platinum" card with a high interest rate and low credit line.  I have had it since 2006, and for the first couple years I made some CL pogress ($500 to $3000).  For the last year, year and a half, it has been suck at $3K, no rewards, and high interest.  Once in a while a decent BT offer came around (only "decent" when considering no BT fee... was never 0%).

Well, I have opened a number of prime accounts in the last two years, and for the 5th time decided to give Cap1 a chance to retain my business.  After routinely checking online for "features" available on my account (was always a negative, ghost-rider), I called in yesterday determined to ge a higher CL, lower APR, or rewards.  (no AF, so I'm not going to close it, I just want to have a reason to USE it).  Well, after talking to a front-line CSR, then an account supervisor, then an "account benefits representative," I was able to add cash rewards (with the 50% year-end bonus) to my existing card.  Would not budge on APR or CL, so it's still pretty useless to me, but I figured I would share with all the other frustrated Cap1 cardholders that it MAY be worth it to call in and speak with someone regarding some kind of perk for having a relatively crappy card.

As always, YMMV, and best of luck!

[SevenNEW]

I am completely in your situation, except I have stopped feeling frustrated. I would not dream trying to put on the sneakers I used in middle school, as important as they were then. And yes, I also have no AF, so I see no reason to close it.

While I am impressed with your achievements braving the notorius Cap 1 "customer service", I wonder if it would not have been a better idea just to apply for one of their prime cards and SD the "platinum" forever...

[Anonymous]

I had 3 Cap One cards that I had for about 10 years or so. Same as you, lower limits, high rates and to top it off an annual fee. 

I have not had  a balance with them for quite awhile. I had an annual fee post a few weeks ago, and just resolved to no longer pay it. I have had pretty good credit scores and didn't want to pay for something that I no longer use. I did the same as you, called and spoke with them, got passed to a supervisor?? and I had zero luck. Well not true, he did offer to lower my rates quite a bit, but for some reason was adamant about the annual fee. 

So, I closed all three of them. Score dropped for a few weeks but has already recovered and actually increased by a good amount. 

All I wanted to do, was to change the three to the Venture Card and the new Cash Card, (which I easily qualify for), but ...

Oh well, Cap One has been good to me when I needed them, both with credit cards and car loans, so I really am not going to knock them too much. It does seem though that they could have retained my business if they had wanted to, but I was not somehow up to their standards for now. 

Equifax Fico  803

Transunion Fico 749

Experian Plus  784

[SevenNEW]

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@Anonymous wrote:

I had 3 Cap One cards that I had for about 10 years or so. Same as you, lower limits, high rates and to top it off an annual fee. 

I have not had  a balance with them for quite awhile. I had an annual fee post a few weeks ago, and just resolved to no longer pay it. I have had pretty good credit scores and didn't want to pay for something that I no longer use. I did the same as you, called and spoke with them, got passed to a supervisor?? and I had zero luck. Well not true, he did offer to lower my rates quite a bit, but for some reason was adamant about the annual fee. 

So, I closed all three of them. Score dropped for a few weeks but has already recovered and actually increased by a good amount. 

All I wanted to do, was to change the three to the Venture Card and the new Cash Card, (which I easily qualify for), but ...

Oh well, Cap One has been good to me when I needed them, both with credit cards and car loans, so I really am not going to knock them too much. It does seem though that they could have retained my business if they had wanted to, but I was not somehow up to their standards for now. 

Equifax Fico  803

Transunion Fico 749

Experian Plus  784

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Yes, this seems to be the consensus, they won't PC. One needs to apply for the prime card and close / SD the 'platinum".

[Anonymous]

Heard that. I just didn't want the inquires and really didn't need the cards; the ones I had or the new ones I was asking for. 

They would have added little to my overall credit picture and I tend to not get cards just because I can. Had they agreed to a product change it would be good, but otherwise why bother eh? 

I am way happy with my Citi Diamond Preferred and my Chase Freedom. 

I just figured I would give it a shot since I have done business with them for so long. 

[pizzadude]

A $3K CL with Cap1 is about the max that you can get on a non-prime card, and honestly, its not really a bad CL compared to where many, many people are with Cap1.

If you don't need the CL to help your Util%, just close the card and move on.

[casmith1980]

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@pizzadude wrote:

A $3K CL with Cap1 is about the max that you can get on a non-prime card, and honestly, its not really a bad CL compared to where many, many people are with Cap1.

If you don't need the CL to help your Util%, just close the card and move on.

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+1

I'll trade you my 'stuck at $750 CL card' for your $3,000 card any day   I'd be satisfied with a $25 increase just to KNOW that they're reviewing my account regularly

[lithium78]

My Capital One Platinum card has been stuck at $1800 for two years now.  After the first year, they tacked on a $3/month "membership fee."  I don't really use the card anymore, because I have prime cards now which offer rewards.  It's a shame that Capital One isn't interested in retaining customers by allowing PC.

[LS2982]

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@lithium78 wrote:

My Capital One Platinum card has been stuck at $1800 for two years now.  After the first year, they tacked on a $3/month "membership fee."  I don't really use the card anymore, because I have prime cards now which offer rewards.  It's a shame that Capital One isn't interested in retaining customers by allowing PC.

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That's some FP shenanigans there, definetely grouds for the shredder!

[Anonymous]

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@SevenNEW wrote:

While I am impressed with your achievements braving the notorius Cap 1 "customer service", I wonder if it would not have been a better idea just to apply for one of their prime cards and SD the "platinum" forever...

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I appreciate your input, but that wasn't the point.  I have no reason to offer Crap1 more of my business, while taking three hard inquiries on my report to apply for a different Crap1 card.  I already have one, with no AF, and it is SD'd.  I got rewards offered on that "non-prime" card.