Capital One - No incentives to stay

Treadmill

I just phoned up Capital one to close my account, I had a £3000 limit and the APR was a eye watering 27.9%, When I got the card it was 9.9%. They pulled the bait and switch trick lol

I was looking forward to hear what they would offer me to stay, Usually you get an balance transfer offer or Lower APR etc and they virtually beg you to stay but this time NOTHING. The call took 30 seconds I cited high APR as the reason for bailing out and the accounts closed, no argument, not as satisfying as getting begged to stay I have to say.

Are Capital One no longer needing business ?

afrochic

The same thing happened to me only last week. I asked them if there were any good incentives. I was told to closed down my old card and open a new one. So I closed it. A few days later I receive a letter regarding a new 0% balance transfer deal. I called up again to double-check if my account had definitely been closed and it had. V. strange.

Treadmill

My account is still active, I just logged in on the website, usually its closed instantly. Maybe they are hoping I change my mind.

bengal-stripe

How disappointing!

It’s like telling a lover: “Our relationship isn’t working”, and s/he says “Fine. Let’s finish it”.

Doesn’t do anything for one’s ego, does it?

Skint_Badger!

I phoned them last week to close an account with zero balance in it for over six months.

I explained that i had not used the account during this time because of the high intrest they were charging, but if they were prepared to give me the same rate as a new customer, 0% until May 2008 on balance transfers with only a 1.7% transfer fee, i would keep the account open.

They advised me to apply for a new account while keeping the original open, and when/if i was offered a new account, close the original. I would then become a new customer.

They reckon i could do this because my account had been dormat for six months or more.

This sound right?

afrochic

I think you could be right. My account was for dormant for way more than that. They kept on sending my statements, but didn't replace my card! I have had that account for at least 3 years.

newleaf

Bengal-stripe, you made me laugh! In this scenario I think it's important to be the 'dumper' rather than the 'dumpee'.
I have just ended a 'beautiful friendship' of 13 months with Cap1 this evening, by transferring my outstanding balance to a new 0% card before they get the chance to whack me with any interest I am very happy. I will be able to pay it all off before this final 0% deal ends.

wyebird

I emailed and asked them for a lower rate to save me the "hassle" (ha ha) of switching, otherwise I would consider closing the card. Reply was along the terms of we have closed your card lol! It was a well conducted account and they had recently upped the limit again. Ah well, their loss! (it did show on line as open for a few days after that though)

Treadmill

I'm now having a fruitful relationship with Virgin who have a honeymoon period of 15 months before we go our seperate ways lol.

hopeless_case_2

Well i just got charges back off themand have been using my card well bt only gota£800 limit and wondered does anyone know how kwik they up the limit?

wayoflife

hopeless_case wrote: »

Well i just got charges back off themand have been using my card well bt only gota£800 limit and wondered does anyone know how kwik they up the limit?

did you get all the charges back from them?

theyve only offered me the difference between the OFT's recomendation and their charges!

I had xactly the same problem with their no loyalty, at the end of the day mate they are not the best company and only good for building up your credit score or tarting....they dont have good offers that last

and with regards to the limit increase....dont hold your breath, I was with them over a year paid off in full on time blah de blah, apparenly its an 'automated' system so basically means that they are lying through their teeth and if you pay minimum payments (so they earn alot of money from you) then you will get one every few months

if not then forget it!