I Hate Cap One

[Anonymous]

*Warning: rant below*

So around 3 weeks ago I call Cap One asking about a cli. The rep also notices my card is about to expire and completely ignores my cli request and says shes issuing a new card with a new number. Even though I did not want this I went along with it. The rep says it will be here in 7 days. During the wait I notice a charge for 217 from Cap One. I call in and they say they made a mistake and credit the money. The very next day the same charge appears. This process repeats for 10 days total when I tell them if the charge reappears then im closing my account.

It hasnt since then but today I got an email saying destroy my old card and that a new one is being sent. No explination why. This can not be fraud as the card the first rep sent has been sitting on my desk unactivated for a week. Im really done with Cap One. Their limit is below 1K which I find quite crazy considering my other cards and the CS is awful to me.

My question is what should I do with the card? I know if I close it that it will still report for 10 years but im thinking with it being my lowest limit card that its hurting my chances of cli with other banks. In my mind other banks will be thinking if Cap One cant trust him with more credit then why should we. Should I look into replacing the card? Ive been looking at a few of Chase's cards or possibly requesting a cli on sapphire. 

What do you guys think?

[Repo-ed]

Close it. Makes no sense, at least to me, why you even have it - given what else is in your wallet.  No brainer.

[Anonymous]

It was the first card I ever had. Was keeping only for age but now I think ill take your advice and close it.

[Repo-ed]

That I can understand then. You still have the reporting age and I do think it MAY be hurting you, but can't say with 100% certainty of course.

[Anonymous]

---

@Repo-ed wrote:

That I can understand then. You still have the reporting age and I do think it MAY be hurting you, but can't say with 100% certainty of course.

---

I think so to in reguards to credit limits from other banks. Should I close it or just leave it unactivated till Cap One closes it?

[Repo-ed]

Personally, I would close it w/o a second thought, but as they say around here:"YMMV"

[Smug]

I love capital one they were the only ones that gave me a chance, I have since closed mine. But I would not be where I am today, without them.

[nuggets321]

This is a serious "no-brainer" .... you obviously dont need their services given what else you have going in your wallet.  I would close it , that kind of service and problems are better left for people who are working to improve their situations.

[Anonymous]

Just worried about a score drop if closing. Im guessing this wont happen to a great extent?

[pizzadude]

---

@Anonymous wrote:

Just worried about a score drop if closing. Im guessing this wont happen to a great extent?

---

Your score will never drop as a result of closing a CC unless your revolving utilization increases as a result of losing the credit limit.   I suspect that's probably not the case with your card portfolio.   

And in terms of what other creditors think, I'm pretty sure that having a low limit CL on a closed card won't be an issue with you getting better cards in the future.