Capital One

[Anonymous]

Hi,

I have read many posts that say Crapital One will not remove baddies ... basically unless you get back into their good graces. I have a card with them that I had 1 30 and 1 60 in Jan & Feb 2007 after having the account for 4 years and NEVER missing a payment. Guess good history doesn't matter because they have put me at the default int rate of 28%. I was blessed enough to be able to do a balance transer to a new card with Chase Bank with 0% for a year so that worked out.

Now my bal with Cap One will be 0 but I am not going to close the account because of its age. I would like to use here and there to keep account updating but not with that int rate -- so I probably won't use it much for anything other than gas.

What are my chances of getting them to lower the rate now I am at -0- bal?

What are the chances of getting them to take the baddies off now that I don't owe...I could threaten to close but I won't because the account is 4 years old. I am guessing the threat won't hold any weight with them.

Any advice?

[Anonymous]

Missy, I'm in the exact same boat as you. 1 late this year, and 2 last year, and I'm at 29.34% No lates since then, and I've been PIF'ing them because it hurts to pay that interest every month. Had to take money out of savings to PIF, but glad I did.

But there's hope on the horizon. Because I've been PIF'ing them for the past several months, I'm due for a rate decrease next month(what an acct. specialist told me last mo, when I got $500 cli on 2 cards I have with them. They offered me EITHER cli OR rate decrease, but not both)

When you talk to them, insist on talking to an account specialist, by calling their back door number: 800-889-9939. Or call Customer Relations: 800-951-6951.

The first half of next year, I'm going to call them and "try" to have them GW me on several old baddies from 2 years ago.

Good luck to you.



Never ever, ever be late. Never

[Anonymous]

Thanks. You said "Because I've been PIF'ing them for the past several months, I'm due for a rate decrease next month". How long do you have to pay on time before you qualify for a rate decrease?

[Anonymous]

Missy, I honestly have no idea as to the timing of it. My only mission was to escape paying so much in interest every month. All my cc's combined, added up to like $150-$200 per month, in interest alone. That's a lot of money for me

That's come to a screeching stop by pif'ing.

I started doing that back in April, and made no attempt on any cc to lower the rate. It just came by accident that Cap1 offered me those 2 choices.

My feeling is that the longer you've had the cc, and the longer you pif every month, and have no lates, then they are much more inclined to be nice to you.

Plus(and this may seem silly), if you pif every month, then the rate issue becomes a moot point. I was just wanting to escape paying so much in interest.

I've had my Cap1 cards for a little more than 6 years. I had 3, but last month I combined a lower limit visa, with a higher limit visa. Plus I have a MC card with them.

Sorry I couldn't give you a better answer. Maybe someone else will chime in with their experience.