Cap 1 - Late Fee follow-up

Discussion in 'Credit Talk' started by CR, Dec 4, 2000.

  1. CR

    CR Well-Known Member

    Hi all,

    I got a very nice customer service rep at Cap 1 who quickly credited back the late fee that appeared on my new statement. She was quite nice about the whole thing. I decided maybe I would give the limit increase another shot. She transferred me to another department that handles credit limit increases. I explained to this gentleman that I was not very happy with the credit limits I had on the two accounts I had with them (both $200). On the account with the late fee, he told me that since it was so new (09/00) he could not increase it but would lower the APR to 15.9. I took it. I then explained that I was not very happy about the card they issued me 06/99 in return for payment of a previous charge-off I had with them. I explained that I had a great payment history and I really thought that an increase was appropriate. The gentleman put me on hold, came back a few minutes later and told me that they do not increase this type of account; it is merely issued for credit re-establishment with them. I told him I wasn't happy and that I would probably call back and close both the accounts. He didn't seem too happy. Do you think he will honor the reduction in APR?

    I am planning to close these two accounts. I will wait til the 06/99 account reaches two years first (06/01). I will keep the second account (opened 09/00) at least 1 year. One of the last reps I spoke to indicated that I should not have a problem getting some limit increases on this acccount after she reviewed my account history on the older account. Maybe I will wait and see what happens before I close it.

    Thanks for listening and your advice.

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