Credit and secured cards with low credit lines are Cap One's corner of the market. They aren't a prime lender, so snatching up high-risk customers no one else will touch is how they compete.
No AF Venture and Quicksilver cards are steps in the right direction for Cap One, but they're still stingy with credit lines and dropping annual fees.
I did call to have my platinum card's AF waived and they did it. However, if I upgrade to the Quicksilver One, it will return to $19 the following year. I don't like the idea of keeping a card with annual fee, unless I'm getting exceptional rewards that dwarf the annual fee.
I plan to drop my Cap One $750 card next year, as the annual fee has already been paid.
I would say drop the card once the annual fee becomes due, then reapply for a no AF rewards card with them at a later date, if you feel like it.
I called Cap One recently to request converting my 1800 Platinum MC to a no AF Quicksilver. I was given two options: upgrade to a Quicksilver One with same AF and CL. Or apply for a CLI (hard pull). I could take one and wait 6 months for the other. turned both down. But CLI's are definitely available. Call Cap One's backdoor number.
PallasAthena wrote:I am disappointed with Capital One.
I've been with them since 2007. They first helped me re-establish my credit after a bkrptcy.
I have 2 capital one cards. One is a Quicksilver ($3250 line of credit) and the other one is a Quicksilver One ($1500 line of credit, formerly an Orchard Bank card). The Quicksilver was a platinum card that was upgraded. It used to be a Venture One card but I didn't know what a Venture One was so silly me changed it back to a platinum.
I want to upgrade my Quicksilver One card to a Venture One but I was told I can't. They suggested I apply for a Venture One. So I did, and I was declined. Recon dept said that they're not really a recon dept and they can't do anything over the phone.
Captial One won't increase my credit lines on any of the two cards and the last credit increase was done in Oct 2011. Also, they won't waive the $29 fee for the Quicksilver One.
my other CC's have credit lines of over $5K. I don't know what to do - close one of my capital one cards or close both of them? At this point, I don't owe anything on either of them and I really don't care whether I lose a few fico points for closing my account. Did Capital One serve its purpose and I should just "let them go"?
I am pretty disappointed.
What do you all suggest?