Get rid of CC's with annual fee?

[lostinnola]

My wife and I are nearing 2 years post discharge. We each have a capital one card that we have had since shortly after discharge, but both have a $39 annual fee. I want to continue rebuilding my credit, but I don't want the annual fee. Has anyone had experience getting the fee waived or switched to a card with no annual fee? I would hate to close these accounts, but do you think that is my best course of action?

[buffetbuster]

Did you try talking to Cap1 about eliminating the fees? I'm sure you've been perfect with your payments over the 2 years. Maybe if you call them and say you are going to close the accounts if they don't remove them, they may. Just a though. I just got a $39 annual fee Cap1 and that's what I plan on doing in a couple years.

[CCsAreEvil]

Yeah, would be some great info if you could follow up if CapOne would remove your annual fees. I'm guessing that applying for one of their cards that advertises "No Annual Fee" might be the necessary/required route.

So, probably calling them and asking to remove the fee.. if they say no, ask them if they think you'd qualify for any of their other cards which have no annual fees.

[OhioFiler]

CapitalOne offered us the same card with a $39 annual fee and also a no-fee card with a higher interest rate. We were just discharged 3 weeks ago. Go to the CapitalOne website and do the mini app which returns the probable cards you're eligible to receive.

[LadyInTheRed]

In the past, I have been successful getting credit card companies to waive their fees by telling them I would cancel the card if they didn't. Capital One may have been one of them. I don't know if it makes a different, but I didn't have a BK on my record at the time.

[tobee43]

we also had cap one, but never had any fees for the cards. we still have them, however we did have orchard bank which not only had fees but never reported to the credit agencies, so we dropped them. as time goes on you will get other offers with no fees, it just a bit of time.

[Floridagail]

I called Cap One asking for 39.00 fee dropped , they said they no longer waive the fees due to the economy. So I am waiting for offers to increase and get rid of it.

[jst4f]

I called Cap One asking for 39.00 fee dropped , they said they no longer waive the fees due to the economy. So I am waiting for offers to increase and get rid of it.

We are just months post BK discharge and got a Cap1 CC offer yesterday with no annual fee. No interest payment if balance paid off each month. Call back and ask again and see if you get a different answer.

[reben]

Floridagail, call Cap1 back and ask to speak to a manager. I called yesterday and got $39 credit for the annual fee and $16 credit for interest I was charged. The first person I talked to said he couldn't waive the annual fee and he transferred me to senior account manager. I did the same thing last year. I've been with Cap1 since Feb 2010.
Good luck.

[Floridagail]

Thanks for update, I will call tomorrow.

[keepmine]

2 years post bk, try applying for a Juniper card issued by Barclays Bank. They have a number of rewards cards.
I got a Barnes and Noble branded card from them 3 years post bk. No fees and a $3500 credit limit. The interest rate is 21.99% so, you sure don't want to carry a balance!

[UnderH2OMom]

Do you have the type of Capital One card that pays rewards? The kind I have gives 1% cash back on everything and 2% cash back on groceries. I use it constantly to pay for just about everything. One plus it that you receive 2% back for any purchases you make at Walmart or Target, even if you aren't buying groceries. The cash back more than pays for my $39 annual fee and I am rebuilding my credit with this card. I use their online sevices to pay my account off every week so I never have to pay interest.