Cancel Capital One credit card account or not?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
13 posts
jeffysdad
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Location: Texas

Postby jeffysdad » Wed Jul 27, 2011 3:10 pm

IMO, the only reason to have any CapOne card is to avoid the foreign transaction fees almost all other (except premium travel) cards charge. That's why I have a CO rewards card.

A few years ago I did a BT to a new CO platinum card and subsequently paid it off without incident. That card had a $20k limit. I repeatedly asked them to stop mailing me convenience checks and other junk mail but they wouldn't do it. So I canceled that card.

Then to get some freebie I applied for and got a Sony Rewards card from CapOne. The limit was something less than $10k, I forget. I got the prize and closed the account.

Then I thought that maybe I should have just one plain CapOne rewards card for the reason stated above (no foreign transaction fee). I applied for and got a No Hassle Rewards MasterCard with a paltry $7k limit or thereabouts. I've never used the card. Recently I called and asked them to increase the limit (my lines with other creditors range from $10-40k and all of my credit reports are spotless, so it doesn't seem like an unreasonable request). They actually hung up on me and sent a letter a few weeks later saying that I was denied. The only positive from the experience was they disclosed my credit score from the hard pull they did and it was 790-something, which was a bit higher than I thought it was.

Now I'm just a bit sorry I ever heard of CapOne. I should have just been willing to pay the extra 2-3% if I ever go to Europe again, whatever.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.


cambridgechica
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Location: boston, ma

Postby cambridgechica » Mon Sep 26, 2011 7:02 pm

HipHopSays wrote: Is this just a CapOne thing of not doing a CLI? Am I missing the thing CapOne looks for in customer? Has anyone else had a similar issue with CapOne?


i asked for a CLI on my capital one last month and was granted one.

DavidNY
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Location: New York

Postby DavidNY » Mon Sep 26, 2011 7:40 pm

I'd say as much as possible to just get the cash you need from ATMs using the Global ATM Alliance.



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