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How do I ask Capital One to lower my 22.9% Interest Rate? How LOW??
The last post in this topic was posted 2164 days ago.
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Thank you Credit board members for a wealth of information.
It's time to say good bye.
Relieved after closing accounts.
Merrick Bank ( July 2008) Limit: 1650 Annual Fee 96.00
Merrick Bank ( Hooters Card) ( Sep 2008) Limit: 1100 Annual Fee: 96.00
Capital One ( Feb 2009) Limit: 1000 Annual fee: 39:00
*Disclaimer: typing with my iPad, so I apologize for errors!
Today while doing my daily pulls I noticed something Imtersting.
A little back story first. I received a letter stating that Navient who I never heard of was buying my loans, but nothing else would change. I received that letter probably six months before the switch. Well, soon after the switch, I log on to my new navient account only to find that half of my loans are gone. I then get another letter a week later stating the Nelnet has purchased half of my loans. I was pretty mad considering Sallie Mae said nothing else would change, so did Navient. I didn't know anything of this until after it happened. So after being aggravated, I just decided to deal with it, set them all up for auto pay again, and forget about them.
Well, today I login to find that during the switch my Navient loans were closed and new Nelnet loans were reporting, but the new Nelnet loans were reporting with my original loan date, so it added 10 months to my AAOA and also 10 months to my credit length history. Raised my score to the tune of 8 points on my EQ. so essentially it added four new accounts with old 2006-2008 dates
The second odd thing was my capital one card that I got during college (my first cc) which only had a limit of $500 was bumped to $2000. I asked for a CLI last year and they said no, so I called and asked and they said they wouldn't give me one since I didn't use the car, I complanined saying that I have credit lines of well over 10k and i would never use it with that low of a limit, they still said no. I never login and even check that account, but just so happened to check and boom the AUTO CLI, which seemed odd to me. I may have to use it now a couple times to show them I still care 👍😀
Anyone else have a similar experience with their Student Loans. I'm on the downside and hoping to pay them off this year, but thought that it was interesting how it took place on my CRs. Didn't think they would process like that. My old loans show (Transferred/Sold/Closed.)
My DW has a new JCB Marukai 3% card, but she was given only a $2,500 limit and they would not reconsider and indicated you must wait six months before applying for a CLI. We overpaid the current balance, and when you login, it now says available credit is ~$4,000. Does anyone have experience with this card and know whether a $3,000 charge would be approved at this point? I know that for Capital One account in the same situation, it would not be approved.
I know this is a baby step, but I wanted to let EVERYONE know that all their sharing of wisdom and knowledge does not go in vain, and as frustrating as it may get EXPLAINING and REPEATING things over and over again, as a NEWBIE (barely here over a year) I would like to thank ALL OF YOU!
Getting ready for upcoming App Spree, so contacted Cap1 EO Tuesday Morning for CLI's (after last PIF payment went thru). Had QS1 at $4k, Cap1 Sparks Classic $1700, QS1 $1200 and Barclay's MC Rewarsd $500. Have been rebuilding credit since Spring 2013, and thanks to CB have all 3 FAKOS in low 700's. Have been putting alot of spend thru cards and PIF every month. SO I requested CLI's of $20k, $20k, and $15k, explaining that based on current spend and paying off ea card multiple times every month, I'd like to be able to use card and not worry about getting near 100% Utilization. Well they came back in 48 hrs with QS1 $4k>$5k, Sparks $1700>$4k, and QS1 $1200>$3k. Not what I wanted but not bad, gives me a decent base and am gearing up to hopefully get a few 5 figure cards during spree. So, now I debate whether or not to call Barclay's BD back after being declined 3 weeks ago for a CLI. Negative has been removed on TU since then and 3 weeks have passed, I have had card 1 yr w/ NO CLI EVER, declined 2x, but i decide to call and got a CLI $500>$3k. Not bad for a Thursday morning. Again, Thanks to EVERYONE! One day I will be able to share what I know with others too and pay it forward!!
Thank you for all the great information. After my BK (2009) we started to rebuild our credit based on the advice here. We later received "decent" auto loan rates with Alliant CU, Toyota, and Nissan. Anyways, I recently Paid off/Closed our Capital One and Merrick Cards!!! Limits were small, highest being $1600.
Our AOAA took a huge hit but it was AWESOME to get rid of those cards!!!! Capital One EO would not waive the annual fees PERMANENTLY! We waited a month and applied/approved for the following:
Capital One Venture 15K (Couldn't believe it! Her highest is a Barclay Apple at 3K)
Barclay Sallie Mae $1200
TU Score: 690 (per Barclay)
Barclay Arrival+ Elite MasterCard 5K (Shocked because my highest was Barclay Apple 2K. I had high UTL and never saw a auto CLI, so really didn't do it right)
TU Score: 686 (per Barclay)
I will probably move Apples over to new Barclay cards and close Apples. Both have been open for more than 2 years.
At this point I don't really see the need for 200,000K in revolving credit and honestly how would I ever pay that back While the BK wasn't my fault and more job loss/life event, I have realized carrying credit card balances and paying interest is a modern form of indentured servitude.
I haven't followed all the advice and did things backwards, like B* but it worked out because I needed those 10 points to get 1.9% @ 72 mo with Nissan. My credit reports still show BK and IIB accounts and because I get a little compulsive, I decided to leave that alone, ha!
Anyways, I have some older cards since 2009:
BB Rewards $300
Besides hurting my AOAA, will it really hurt my chances of getting to 750??
Oh and we already qualified for a mortgage but haven't found the right house. Honestly, we're not in a rush! We owned a "fixer" and that totally sucked so we're being more selective this time around.
I may also try to refi my auto loans with DCU but a bit skeptical with them. I hate their website!