Be careful when calling Cap On

Discussion in 'Credit Talk' started by molly, Jan 13, 2001.

  1. molly

    molly Well-Known Member

    I called on Dec. 14th and talked to a rep (I wanted an increase). I told her I wanted to close my account but could I talk to the retention dept. Well, she gave me the 800 # for retention so I could talk to them but she closed my account. I just tried to log on to check the account and it was closed. I called them up and after 20 minutes on the phone the account supervisor reopened the account like it had never been closed. I guess I should be careful what I say :)
  2. Cindy

    Cindy Well-Known Member

    RE: Be careful when calling Ca

    Whoa! Thanks for the advice, Molly. I called them on Friday night, attempting to get a credit line increase, but no dice. I had considered threatening to close my account, but did not. I was once again given the "wait six months" story. AAAAUGH! I even tried telling them that I needed to rent cars and reserve hotel rooms for business purposes (which I do BTW) I recall, someone on this board had suggested that as a possible option. And after all that, she STILL tried to sell me that fershlugginer credit insurance (which I do not have on ANY account.) I have paid this account VERY regularly and always substantially over the minimum payment. Any further suggestions, anyone? I am signing this,
    STILL stuck at $200,

    GEORGE Well-Known Member

    RE: Be careful when calling Ca

    Can you charge $199.00/month then pay in full every month???


    See what happens after three months.

    Keep track to the penny...
  4. Cindy

    Cindy Well-Known Member

    RE: Be careful when calling Ca

    Hmmm....yes, I _can_ do that (it is pretty close to what I have been doing...paying about $120/$140 per month). Since they seem to be inflexible about the six-month rule (at least with me), I might as well give it a try. In three months, I will be at the six-month time limit with this card.

    Also, I do pay them on-line, which will make it easier to keep track of things.

    If they are generous with me, I plan to start dumping some of my, er, less desirable cards.

    Thanks, George!

  5. Geo

    Geo Well-Known Member

    RE: Be careful when calling Ca

    Cindy, they probably will increase your limit $300 every six months.But don't ask for an increase when you request to unsecured your card after a year with this account.
  6. Cindy

    Cindy Well-Known Member

    RE: Be careful when calling Ca


    Thanks! $300 sounds good. I will be patient (which is a bit hard for me, but is a good learning experience, LOL!!!) And BTW, the $200 card is an unsecured card.

    I do also have a $99 for $500 MC; and I can live with that limit for a while. The rep told me when I called in that I could go for unsecured after a year.

  7. Saar

    Saar Banned

    RE: Be careful when calling Ca

    You don't actually have to threaten closing. Just ask to speak with the Customer Retention. They can take a hint.

    BTW, even if your account is closed, you have 60 days to request it be reinstated. So there's not a lot at risk.

    When you call to apply for an increase, make sure your account is not maxed out. If it is, you'll have a hard time negotiating. Pay it down and leave no more than 15% of your credit line as outstanding balance. True, maxing out the card a few times is a good way to build credit, but you have to call after you paid most of the balance. Otherwise they may think you're desperate.


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