Annual Fees

Posted Wed March 7, 2012 9:30 pm, by Emanuel L. written to Capital One Financial

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First let me say I appreciate Capital One giving me a chance to rebuild my credit over the past few years. When I was rebuilding I understood the reason for an annual fee. I also understood the low limits and appreciated the credit steps program where my credit line would grow based me my showing I can make payments.

Currently I have three cards with Capital One. The cash back and points cards both have annual fees and the Sony Rewards card which has no fee.

Last week I called to cancel the Sony Rewards card because I feel the small limit is hampering my use. This leaves me with the Capital One Platinum Mastercard with provides Cash Back and the Platinum Mastercard with rewards points.Both of these cards have an annual fee.

Over the past few years I have opened new lines of credit with higher limits, lower interest rates and no annual fees. I have asked in the past if I could have the fee waived or a product change to a card with no fee and both answers were no. I was told I would need to apply for a new card which I did today and was declined.

I would like you to reconsider my application for a new card that has no annual fee to replace my existing card with the last for digits of XXXX that expires in April of this year.