IF they waive the fee I'd keep it.
They are really weird to deal with.
They are my oldest card but pretty stingy
overall so if you have other cards and they
won't waive the fee--Adios Amigo.
Oh and BTW use the back door number
listed on the top of this site. You will get a
IMO, I would keep the card and try to get the fee waived. Then ask for a product change post graduation
Capital One has 2 benefits that I think make it work keeping and which most CC don't offer.
1. No Exchange fee on international purchases. Most charge 3 to 4%. They actually eat the 1% fee that the VISA network charges.
2. Auto Rental Insurance coverage (at not cost) that is primary rather than secondary. If you wreck the rental, they pay it all, Secondary coverage which most offer, only pays what your personal auto insurance doesn't , like the deductible. You don't want that on your insurance record.
I agree with Wolf3. I'd keep that card, even if they refuse to waive the fee.
You're 20. Things will be dramatically different at age 21 and post graduation.
Cap One has both crap cards (useful for some purposes, nonetheless) and ones that are truly gems. $29 isn't a lot of money to hang in with CapOne for a while, worst case scenario.
Keep that card, and reevaluate in a year or two.
BTW...you're doin' good! Congrats!!
I also tend to agree with Wolf. I would really try to hang on to that card for another bit, and hope that with a good score and a new job, they could convert to a much nicer AF free card.
I also agree with keeping the card for now.
What I really wanted to add is this....You are doing extremely well for a young person in school. 3 cards, nearly 8k in credit & all with 0 balances.
You deserve a huge pat on the back!!!!
Thanks for all the support and help guys! I guess in the bigger picture $29 isn't too much to pay to develop my credit history. Thanks for all the help again!