I thought I would try my luck. Called Capital One retention department and requested that the annual fee that was put on 2 months ago be waived.the account has A ZERO BALANCE. I have had this card for 14 months now. No OVERLIMIT or PAST DUE. They will not remove annual fee, adjust apr or raise limit (I did have a limit increase of $200.00 in 9/00). I threatened to close the account and they told me they could take care of that with no problem. am I doing something wrong? Any suggestions? I really just want the annual fee waived...
RE: Capital 1-will NOT remove CapOne has one of the most, if not the most, sophisticated internal account monitoring system that I ever heard of. With a zero balance, you flunk their internal scoring system of a "good" (i.e money-making) customer. So, from a business perspective, with a zero balance, they won't make money from you and may feel the only way they can make money is to charge the annual fee. It might help to carry a small balance and let it revolve so they can make money. Also, never threaten to close an account unless you REALLY mean it. I've made the mistake of them calling my bluff.
RE: Capital 1-will NOT remove So far I've never heard of anyone getting his annual fee waived by Cap 1. If they did this to anyone, please speak up. What we DO know is that they'd sometimes waive the upgrade fee (for examples, from Classic to Gold), but not the annual fee. So what else is new with their (lack of) limit increase policy? What strikes me is your APR experience. Normally their retention is more than willing to negotiate a substantial rate reduction. Even my secured line's rate was reduced from 19.8% to 12.9% after only 5 month with them. I'd re-try the APR issue w/ another retention agent. Saar
RE: Capital 1-will NOT remove Sam, if your story represents an exception to the "no annual fee waiver" policy, please let us know how much "into the membership year" you were at the time of getting the waiver. Thanks. Saar
RE: my story? 11 months on secured card - i asked to close the card because i do not wish to be charged a new annual fee - fee waived permanently. Then the rep said "Wanna see what we can do on your monthly membership for the gold card? I can probably reduce it to $2/month" I said "how about we just make it one time fee of $24 instead, since i HATE getting billed every month and getting the minimum 0.01 finance charge". he said "Sure we'll increase your line by $100 to facilitate the one time charge of $22 (prorata for this year). My gold card has had only 1 billing cycle. So i cut the gold to $24/year got a $100 increase to cover that ( i dont mind paying it) and my secured cap 1 lost the annual fee altogether.
RE: my story? Sorry, bad choice of words on my part. You had a great success today, and I'm sure you'll have many others. Thanks for sharing. Saar
RE: Capital 1-will NOT remove I concluded some time ago that CapOne is sensitive to the size of your payment, and will occasionally make exceptions for those with high incomes who make make large payments every month. Otherwise, if you pay only the minimum, even if it's on time every month...you're subprime trash for life, or until you cancel, whichever comes first.
RE: Capital 1-will NOT remove I have never been able to figure out how this company works. I closed my account several months ago after making large ontime payments and paying it down to -0-. Still couldn't get them to give me anything and this was after six years of good account history.
RE: Capital 1-will NOT remove Talked to Cap1 retention a month ago and got half my annual fee refunded (NOT waived..it will charge again next year). They're tough on this! Called retention today and got a 2% decrease in interest rate on Gold Visa and 300 more credit on my MC... the guy was nice but it's like pulling teeth to get that computer to say yes to anything.
RE: Capital 1-will NOT remove I agree. I think payment size factors heavily. I've noticed I've gotten more increases (little ones) that are normally 2-300 and they tend to correspond to my last 2 payments. For several months I made only 50-100 as I was working on building other accounts and when I asked Cap1 for increases I got a no. But today I got a 300 increase on a MC that they'd just given me 250 6 weeks ago. Talked directly to retention, by the way. Just nicely asked for their department!!! Thanks for that hint! I hate threatening to cancel when I don't really want to cancel. Oh, the rep in retention said he has absolutely no clue why the computer will say what it does... and he said they have NO discretion. The computer gives options and they read them to us. Period. He actually said he'd like his job if he "could do anything" for us.
RE: Capital 1-will NOT remove They are giving you a hard time about the annual fee for 2 reasons. One is that with no balance they are making no profit. Two is that if you sign up for MCI through them the fee is waived. I filed for BK the same month I got a Capital One classic card. A month later they called offering to waive the fee if I went with MCI.
RE: By the way my annual fee w My husbands too. We went with MCI 3 months ago. They waived the fee almost immediately. MCI notifies them. We tried to get the annual fees waived on the Gold cards, but no luck, MCI will only authorize one per family. I tried to get around it with having 2 lines but they didn't go for it. Cap 1 said I had to call MCI directly. I even sent them a copy of my phone bill. No such luck!
