Annual fee for Capital One

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
7 posts
cchelp
Green Member
Green Member
 
Posts: 5
Joined: Tue Apr 24, 2012 11:46 am
Location: NY

Annual fee for Capital One

Postby cchelp » Thu May 17, 2012 10:34 am

I recently signed up for Capital One and I was approved for $2000! This is huge for me since I filed for bankruptcy almost 2 years ago now and working on building my credit which is around 605 at the moment. My HSBC card is a lousy $400.

Anyway back to Capital One, the annual fee is $39. I just got off the phone with them and was told they cannot waive the fee as it's in the terms and conditions.

What would you recommend? I figure I'd have no choice to pay the fee because of my Chapter 7 bankruptcy and my low credit score but, by next year, should I ask for the fee waived or cancel the card. Maybe by next year I can get a credit card with no annual fee.

Please help..


Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Sun May 20, 2012 12:30 am

have you tried your local bank like TD bank or keybank. you might want to try for a lower level card.

tell them what happened and see if they think there's a card for you.

namvet
Centurion Member
Centurion Member
 
Posts: 140
Joined: Mon Dec 26, 2011 4:17 pm
Location: Texas

Postby namvet » Sun May 20, 2012 11:25 am

You may have set a new record for initial credit line with Cap One. It is well documented that Cap One likes to offer low credit lines and few and far between credit line increases. So if that initial line of $2000 is correct i would pay the fee and build some history which could lead to better cards with no annual fee.

cchelp
Green Member
Green Member
 
Posts: 5
Joined: Tue Apr 24, 2012 11:46 am
Location: NY

Postby cchelp » Thu May 24, 2012 6:04 am

Yes, I am still shocked by $2000 credit limit. What shall I do about my horrible HSBC card? Call them before the one year and tell them to waive the fee or cancel?

lucasoil4u
Platinum Member
Platinum Member
 
Posts: 73
Joined: Wed Jun 20, 2012 3:40 pm
Location: Minnesota

Postby lucasoil4u » Mon Jul 02, 2012 12:11 pm

I would just pay the fee it might be what you have to do to get your credit back up. Tell them to waive fee or cancel. Make sure it is paided off though

bernhardtra
Gold Member
Gold Member
 
Posts: 26
Joined: Sun Nov 06, 2011 9:18 am
Location: Jacksonville

Postby bernhardtra » Tue Jul 17, 2012 8:27 am

namvet wrote:You may have set a new record for initial credit line with Cap One. It is well documented that Cap One likes to offer low credit lines and few and far between credit line increases. So if that initial line of $2000 is correct i would pay the fee and build some history which could lead to better cards with no annual fee.


Yeah, but Capone knows that another bankruptcy can't easily be filed for a while. But it is still a HUGE limit from such a cheap bank. I closed one of my 2-year old $39 AF cards with them because they wouldn't wave it, give a CLI, or change it into rewards. I have a rewards with them at $39 AF and a Household Rewards with no annual fee. They waved the AF on both the cards last year and the rewards card this year. Good luck with them, it is hit and miss with them, actually it really is just take a hit from them, take another, another, another.....
EX 686 TU 690

Cap One $500 6/10 closed no CLI 7/12
Cap One $2000 9/10
Household $500 9/11
Merrick Bank $2800 10/07
Marathon $900 10/11
Bealls $950 10/11
Marathon Visa $2500 6/12 Yeah finally a good limit card!
Barclays Rewards MC $1500 8/12
Belks $800 8/12
Walmart $1000 8/12

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Tue Jul 17, 2012 9:46 am

cchelp wrote:I recently signed up for Capital One and I was approved for $2000! This is huge for me since I filed for bankruptcy almost 2 years ago now and working on building my credit which is around 605 at the moment. My HSBC card is a lousy $400.

Anyway back to Capital One, the annual fee is $39. I just got off the phone with them and was told they cannot waive the fee as it's in the terms and conditions.

What would you recommend? I figure I'd have no choice to pay the fee because of my Chapter 7 bankruptcy and my low credit score but, by next year, should I ask for the fee waived or cancel the card. Maybe by next year I can get a credit card with no annual fee.

Please help..



That is an excellent starting limit from Cap One or really from anyone considering the BK. I doubt you are going to find better other than say through a credit union. I would keep it until you get some no annual fee prime cards under your belt but that is years down the road. It's an investment in your credit building and for a limit like that, I'd do it.



Return to “Finance Charges & APR Compare”

Who is online

Users browsing this forum: No registered users and 0 guests