Just say "NO" to Capital One: I have an excellent credit rating, holding cards with 7,000 limits. Capital One issued a card with a $500.00 limit after I responded to a "You are pre-approved" letter. When I requested a limit increase, they said "No".increases are only approved by internal review, not by customer request.
I made it a practice to always overpay the account to maintain a credit balance which effectively gave me a higher monthly limit. When my limit of $500.00 was reached (Total balance = $501.00) as a result of a delay in processing my monthly payment, a $25.00 charge was issued. I immediately made a payment by phone - and was charged another $10.00 for the phone payment.
I eventually got to speak to a "live" customer support person in India who was able to credit the $25 over-limit fee but could not do anything about the $10. Fee. Once I got the balance to 0.00; I called to cancel the card. I was again told "No"; they do not recommend cancelling cards. So the card is safely tucked away in a file folder, never to be used again.
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