cc question

iVillage Member
Registered: 09-21-2004
cc question
2
Wed, 11-03-2004 - 1:36pm
I applied for a capitol one cc last week cause I heard good things about them and I wanted to transfer the balance from my mastercard to the capitol one and close the mastercard acount. Well, I checked the limit they approved me for and it is nowhere near what I figured I would get and not near enough so I can transfer the balance. They have the same interest rate but the only diff would be I have an annual fee on my mastercard which I really need to see if they will take off. I've had the mastercard like 7 years, was a teen when I got it. I don't even want the capitol one card now since I didn't get the limit I was expecting. Would they still transfer part of the balance since there isn't enough limit to take the entire balance? Or will they refuse the balance since it's higher? And since I don't want it, I see no reason to keep it open, so would it affect my credit in anyway if I just close the account before I ever even start using it? I should be getting something in the mail here in a few days cause I applied online and checked my credit limit that was approved.
Avatar for mymartes
iVillage Member
Registered: 03-26-2003
In reply to: mattsgirl_21
Wed, 11-03-2004 - 5:07pm
How much is the difference between your credit limit on capital one and the balance you want to transfer? Sometimes if it's not much of a difference, they will increase your credit limit. So you can transfer the balance from the other account.

If they don't increase the credit limit, transfer what you can anyway. Make sure there is no transaction fee.

Perhaps other posters could help answer your concerns better.

MYM

iVillage Member
Registered: 09-21-2004
In reply to: mattsgirl_21
Wed, 11-03-2004 - 7:54pm
Its a big difference. Maybe if I called them and talked to the person and told them I was just wanting to replace my other cc with this one, would that work? I don't know, it just kinda ticked me off. I have no use for the card esp with the measley limit they gave me.