I got a letter in the mail that they will be charging annual fees $4/month. I had $5k CL since 2 years without paying a dime as finance charges. I will cancel in 2 weeks, they do not deserve a dime either as annual fees.
Yup...I cancelled mine..they wont' budge..when you call, they even have an option to cancel without talking to a person..I mean, it really doesn't go to a person at any time so they are obviously trying to get people to close, imho. And, they got their wish with me...
They WON'T trade CO-BRANDED for a different card...SO KEEP IT AND LIVE WITH THE FEES...OR CLOSE IT!!! "IF" they lose 30% of their business to CLOSURE...they MAY change their minds... Then again it may be a way to GET RID OF THE CARD FROM THEIR PRODUCT LINE!!!
IS IT CO-BRANDED K-MART??? 8.90% may not be included...I DON'T KNOW MY CAPITAL ONE IS NOT K-MART...and is NOT THAT HIGH OF AN INTEREST RATE
Cap1 must want to get rid of those customers with K-Mart cards as a sign it wants nothing to do with affinity or co-brand cards. I wonder what they are up to. From some of these posts, looks like they are urging non-prime customers to close their accounts
Re: Re: KM crap1 charging annual fe It's not only Kmart. It's all Cap 1 cards. There's another thread about this somewhere...it was suggested to call and ask for the "retention department" when complaining, but this half-sounds like a joke. At this point, all I can hope for is a reduction of the fee (for me, also $48/yr). Someone on that thread got his cut in half--fees, that is. Do a search for "Goodbye Capitol 1". Anyway, some of us must keep these stinkin' cards cause we have no choice, credit-wise. Maybe we'll be able to dump them en masse in a couple of years!
Re: Re: KM crap1 charging annual fe DEAR CAPITAL ONE CUSTOMER: We will be dropping the CAPITAL ONE K-MART card on 06/01/04. You are welcome to APPLY for any other CAPITAL ONE product that we offer and your current history will be added and we will take into acount that you are already a customer...we will have you fill out a short application (FOR LEGAL REASONS) and send you the card of your choice. If for some reason you NO LONGER QUALIFY FOR ANY CAPITAL ONE CARD...you can still pay off the card at the current terms. SORRY IF THIS HAS CAUSED ANY PROBLEMS FOR YOU. Don't forget all charges will be REFUSED AFTER 05/31/04. CAPITAL ONE CREDIT CARD SERVICES BLAH BLAH BLAH That will SAVE FACE as the JAPANESE say.
Re: Re: Re: KM crap1 charging annual fe Are you sure? We haven't gotten mail to that effect. My DH as a Platinum Cap1 w/ 15K CL & 7.9% fixed for any transaction: purchase, BT or cash.
Re: Re: Re: KM crap1 charging annua I'm not sure if the fee applies to every account in every segment of Cap 1's portfolio of cards, but I got the same letter a lot of people did, who have different cards. In the previous thread I mentioned, the poster stated that his fee was supposed to be $59. So they're tightening the noose on many--but not all--of us. If it helps to make a pattern, my cl is 7000 and I was carrying about 60% balance on this card. I wonder if there is an X, Y or Z to an account, like that held by Rina's husband, that makes it immune to the annual fee? Sorry, I don't mean to veer this away from the Kmart discussion.
Re: Re: Re: KM crap1 charging annua I asked Cap One to lower my credit limit to $200 after that letter. They can not charge a $4 monthly fee with a credit limit under $240. They did so and told me I could not make other requests for 6 months now. It is a joke though! How am I supposed to feel about Cap One now? Thanx for "growing with me". This is not good.
Re: Re: Re: KM crap1 charging annua I believe it is only their kmart cards this is happening, too.....the letter states they assure me it isn't due to my credit or credit performance with them..which no, that has to be true, cuz both are clean! In fact, they had just increased my CL. I think when a company has an automated cancel and it doesnt' take you to retention, that's cuz retention is not what they want, they want cancellation. That said, I have a plat that is not cobranded with Kmart and I've received no such communication re: fees, etc..so that makes me believe even more it is the kmart segment.
Re: Re: Re: KM crap1 charging annua My card was the CO Platinum MC w/4000 CL. They would not budge on dropping the membership fee. I was never charged this before, so I canceled the card since they would only wave half. They didn't seem motivated to keep my business. Capital One is "crap" anyway.
Re: Re: Re: KM crap1 charging annua We have 3 cap1 accounts, plat., gold and KMart card. We closed the Kmart card a month ago because the local KMarts all closed. We got the letter,but it only ref. our KMart account. We called and they said the account is closed so don't worry about it that the letter was sent to all KMart accounts in the system. My guess is they are trying to scrap the KMart line because of KMarts finacial problems.
Re: Re: Re: KM crap1 charging annua About a month ago, I received Cap 1 asking for $4 monthly fee for Kmart MC. This morning I closed my account thru the automated system. I don't bother to send in the card. No limit increase and no lower apr and 11.9% is higher than my other account. Only Cap1 that I have is Gold MC and no annual fee. I kept it for the account history and I used to buy 12 packs of Diet Coke every month. Ron.
