Capital One Fury!

[Anonymous]

1.  I'm planning to apply for a mortgage soon.

2.  My scores are TU 703 / EQ 709  736 / EX 673

3.  I just found out that with one of my credit cards, Capital One, I'm charged a 4 dollar member fee even if my card has a zero balance.  I JUST CANCELED THE CARD.  Bad move?  If yes, I'm not going to worry about it, or should I?  Why should I just give away $4 every month!  I have other cards with higher balances that I'm swiftly paying down.  Any comments?  Thanks much.........

I purchased EQ score watch and surprisingly my EQ score has increased since a few weeks ago.  Lets see if it drops after the C1 "itch".

Message Edited by carlawithac on 05-05-2007 05:35 PM

Message Edited by carlawithac on 05-05-2007 05:36 PM

[Anonymous]

You could probably have got the fee cancelled rather than the card...they would likely have realized that with FICOs in the high 600s to low 700s, you didn't have to put up with monthly fees or annual fees of any kind, and worked with you to keep you as a customer.

[Anonymous]

I agree ! Or worst case scenerio, You should have waited to close it after you closed on your mortgage. Every point counts when it comes to getting into certain brackets to receive the best intrest rate for a mortgage !

[Anonymous]

Yes, waiving the fee is what I requested for first.  I was told, "No" with a capital N, the fee could not be waived, blah blah blah.  Thanks.  I just hope it doesn't affect my scores.  I've been hesitant in buying score watch, but eventually I will.

Message Edited by carlawithac on 05-04-2007 06:08 PM

[Anonymous]

There's certain gamesmanship you have to have when working with customer contact centers. I know...I've worked call centers for six years now.

What you have to do is call in and casually inform the customer service rep that you've secured another card with a $1000 CL and no annual fee, and that for that reason you no longer need the CapOne card. It's only when you actively start to cancel your card because a competitor has offered a better deal that customer retention kicks in.

The customer service rep will likely put you on hold while they contact their retention specialists, and come back with a counteroffer. Most likely they would have eliminated the monthly fee and come back with maybe $29.99 annual and no monthly fee, and a lower interest rate.

You take that, work with it for a year, get your FICOs up another 30 points or so. Then call in and say you've gotten another card with a $2000 CL, no fee, and 2% cash back and frequent flier miles...

[Tuscani]

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TheNewWorldMan wrote:
There's certain gamesmanship you have to have when working with customer contact centers. I know...I've worked call centers for six years now.

What you have to do is call in and casually inform the customer service rep that you've secured another card with a $1000 CL and no annual fee, and that for that reason you no longer need the CapOne card. It's only when you actively start to cancel your card because a competitor has offered a better deal that customer retention kicks in.

The customer service rep will likely put you on hold while they contact their retention specialists, and come back with a counteroffer. Most likely they would have eliminated the monthly fee and come back with maybe $29.99 annual and no monthly fee, and a lower interest rate.

You take that, work with it for a year, get your FICOs up another 30 points or so. Then call in and say you've gotten another card with a $2000 CL, no fee, and 2% cash back and frequent flier miles...

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Good plan.. but I think CAP1 would rather not have you as a card holder than lose that AF.

[Anonymous]

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carlawithac wrote:

1.  I'm planning to apply for a mortgage soon.

2.  My scores are TU 703 / EQ 709 / EX 673

3.  I just found out that with one of my credit cards, Capital One, I'm charged a 4 dollar member fee even if my card has a zero balance.  I JUST CANCELED THE CARD.  Bad move?  If yes, I'm not going to worry about it, or should I?  Why should I just give away $4 every month!  I have other cards with higher balances that I'm swiftly paying down.  Any comments?  Thanks much.........

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Do you mind if I ask which card you have.  NEver heard of a C1 that charges a monthly fee.  Annual fee yes.

[Anonymous]

"

Do you mind if I ask which card you have.  NEver heard of a C1 that charges a monthly fee.  Annual fee yes."

Seems to be the new trend with some annual fee cards. Rather than charge you one lump sump, they charge portions of it on a monthly basis. Makes the fee seem smaller per se, and harder to call and complain to get it waived.

[Anonymous]

C1 Kmart Platinum if that means anything; I never shop at Kmart. 

[Anonymous]

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carlawithac wrote:

C1 Kmart Platinum if that means anything; I never shop at Kmart. 

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I never knew Cap1 HAD co-bramded cards...LOL!!  I won't be getting one of those cause I don't shop there either.