Cap! APR 13.9 down from 19.9 i

Discussion in 'Credit Talk' started by Marie, Feb 10, 2001.

  1. Marie

    Marie Well-Known Member

    OK, this one is worth posting. I have 2 Cap1 cards a 1200 Mc (16 mos old) w/15.9% and a Gold Visa 900 (7 mos old). So far I've mostly worked on line increases... and as you can see, at 200-300 a time it takes a lot when they start at 300.

    But here's what's interesting. I'd called CAp1 and directly asked for retention 3 days ago... tried to get a line increase on the gold to 1200 or so (haven't had an increase since Sept) so I'm almost due anyway. He did offer me 17.9 and I couldn't get him to budge so I took it. I thought he finally agreed to 15.9.. but I'm not certain.

    Called today and got the Richmond retention office (I know from asking previously that I'd always gotten Tampa before) and I questioned him on my newly posted 17.9.. I'd thought it was going to 15.9 like my MC but I truthfully admitted I wasn't sure since we'd talked about both accounts... and I definitely didn't want to get the other rep in "trouble" since he was nice to me.

    We talked for a while and I admitted I was just going to combine them into one... to heck w/Gold my MC was better. He said since they'd just lowered my rate he didn't think he could do much else... so I asked him if he could ask a supervisor or something???

    He came back and blew me over... 13.9%!!! NOw, I had previously kept my Visa balances at 700-800 as I was "working them up then down" but I'd truly gotten so fed up w/interest rates that I'd just paid the account if full 1 week ago... say goodbye to my interest Cap1... or so I thought. Guess they were trying to lure me with a now permanent, fixed rate.

    And yes they have! I'm balance transfering 2 accounts to my Visa (and part to my big mastercard) to show a different type of activity to Cap1. I'm guessing if I do that and "use" most of my available credit with transfers... my review next month may grant me higher limits... exp w/my recent pay history of being 300-500 at a time on both cards. By the way, I've always been on time and I've never gone over limits. Ever. but I always assume the Bk kills me. Good thing they judge you on how you do w/Cap1.

    I've heard that Cap1 is VERY payment sensitive and I now agree. Anyway, thought I'd let you all know... even a person w/bk7 only 2 years ago can work into fixed prime rates. If they'd just up my limit I'll keep Cap1 even when I can change. They've been good to me. Oh, and I have a bonus... He directly gave me the Cap1 retention line in Virginia... and his extension to call him. He was so nice. That way I can call him with my balance transfers. So, I'll post the main line for all of you to use :) Hope they treat you as well as they have me!
  2. rolo

    rolo Well-Known Member

    RE: Cap! APR 13.9 down from 19

    I cant get cap one to do any thing for me.I stil have a 200.00 limit.
  3. Marie

    Marie Well-Known Member

    RE: Cap! APR 13.9 down from 19

    THey're really difficult. I call them every month or so... and I always just talk to retention because their first set of " customer service reps" can't seem to do much of anything! Call the retention number I posted and tell them you like the company but can't do much w/your current card and see what they can do for you. It's your best shot w/Cap1!

    To make you feel better.. I hear "NO" from Cap1 about 4 times more often than I hear yes.
  4. sam

    sam Well-Known Member

    RE: Cap! APR 13.9 down from 19

    They really love big payments and many of them :) I would use 2x my credit limit every month on the cap 1 card, and pay it off in full,they seem to respect that alot. If you can flex your income on them, they will respond. Same with citi, both of them seem to love the fact you can pay off your balances and then some on regular period.

    good work! i'll have to work them down too, i don't carry a balance on my cap 1's any more,but i got the classic secured fee to $0/yr and gold to $24/yr, which is good for me since thats where they made their money..

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