sejaybebo69
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cancel the card...in no time you will start getting new offers.... |
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Smitty
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Cut up the card and forget em. |
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Studly
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They are offering you a 5.9% rate, and because of some idiot service rep you are going to cancel it!
Are ;you nuts!!!!!!
Get on the phone and talk to someone there. Find out what you need to do to get this rate! Use the advice about charging $20 if that is what it will take.
Nobody gives that kind of rate any more, so you don't want to let it go.
Whatever you do, DO NOT cancel the card. You have established a good credit history with it. You don't want to lose it. The people advising you cancel it are total morons and simply don't research their answers. |
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hewhoworkshard
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Keep the card. Since you are 22 years old I have to assume that the capital one card is one of only a few pieces of credit you have. If this is a bad assumption then my advice might change. Three years history on this card is probably a big reason why your credit is so good. If you cancel this card and open a new one you lose that history and you would see a drop in your credit score. Since the rate is so high I would either not use it, or make sure you pay it off every month. It is also OK to have three or so open credit cards to maximize your credit score. I highly recommend paying off your balance every month anyway. That way you never get into trouble.
Lastly Capital one is notorious for their phone reps not being knowledgeable. I have a Capital one card and I have called three different times in one day and gotten three different answers from three different reps. I believe they will comply with your request to lower the rate. Try calling them at noon or so and that will lessen the chance of getting transferred to phone bank in India or some other third world country.
Good Luck and Nice job getting your credit to 750! |
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sarah a
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you need to talk to a manager or a supervisor, you need to be blunt! State that you need to do this or else i will take me business elseware. with a 750 score you have it in the bag. |
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lahaina luau
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get rid of the card....Be firm with them or send them a letter to cancel the card. They are not working for you and they should be competing for your business; since they are not find a company that will.
You are young and have plenty of time to continue to build your credit. Canceling one card is not going to make much difference. |
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trix
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Call again. Most the time the different customer service people give very different offers. If not get a different card. Discover card is very good, in my experience. |
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Susan G
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I would keep it and not use it so that you maintain that good credit history. If you cancel the card then you lose that length of credit history and you need that when it's time to buy a house or get a loan. You may have to pay an annual fee but that good credit is worth so much more. MSN.com has some good articles about personal finance that are worth looking at.
By the way, if you cancel the card, your credit score will drop. |
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rhino_man420
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just cancel it and go somewhere else. |
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sara_busa
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Eh, you could put $20 on it, just to show a balance, and then see if they lower your interest rate.
I personally think it's dangerous to keep a card around that you are not using. If it gets lost or stolen, you are probably not going to notice right away (since you aren't using it on a frequent basis). If you already have great credit and don't need the credit, I'd just close up your account and move on.
And yes, just for the record--I've noticed that Capital One's interest rates are awful, at least for people in their mid-20s. |
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Jas
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Call them and ask them to reduce the interest rate right away or cancel the card if they don't agree. There are much better companies out there. You may want to apply for another card first. (One of the Citi cards with the "Thank You Points" is a good deal). |
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rab2344
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Capital One is a great card for people rebuilding. However, their rate is absurd. I would keep the card but don't use it. Then apply for a new card (Bank like MBNA or someone) and build a history with them. Then after a year or two, close your Capital One account. Don't get to many cards!! Biggest mistake consumers make is having more then 3 cards. 3 should be the max. |
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butterflykisses427
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I would get rid of the card myself. You have made transactions and paid them off and they still won't give you a break on the interest rate. I would than go find and apply for a card with a much lower interest rate. |
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Fool in the Rain
 |
That's odd. Here is what I do I get those credit cards that offer 12 months - no interest or finance charges. I almost always pay off the card every month and never make a late payment or this doesn't work. Then in the last month, I call to cancel the card and tell them it's because of the interest rate going up. Everytime, they drop the interest rate back down to 0% for another 12 months. I have never had them say no.
I would call again to cancel and if they don't offer to drop it, cancel the card. Your credit rating is good enough that you shouldn't have any problem getting a different card with probably zero interest. Good luck. |
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Cindy J
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I would get a better credit card at a lower rate - pay off the Capital One card - and keep the account open it will raise your credit score to have it paid off but still open. Get a better credit card here :
http://www.dgftaworld.net/credit/AmericanExpressCards.htm |
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curtain r
|
Building Wealth by Reducing Debt
http://www.askaquery.com/Answers/qn1578.html
How to Manage Your Credit Card Debt?
http://www.askaquery.com/Answers/qn1579.html
Best Ways to Consolidate Credit Card Debt
http://www.askaquery.com/question/Best-Ways-to-Consolidate-Credit-Card-Debt.html |
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kvuo
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get rid of all credit cards, and pay cash for everything.
debit cards work just as good, and they dont charge you ANY interest. |
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answ er
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Credit Card Debt Management
http://www.debt-explained.com/category/Credit-Card-Debt-Management.html |
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