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Question
Does an annual fee raise the chance of an approval?
Cannot find the answer anywhere! I even spoke with a rep @ capital one, and he kept going around the question.
So, Does anyone out there know if I/WE have a greater chance of getting approved for a card WITH an annual fee over one without an annual fee.
I know it's easier to get approved for a secured card then a non-secured, so wouldn't this be like the same thing?
Asked by
Orbity
1 year ago
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Annual fees are usually designed for people with lower credit or high end rewards cards. The fee itself has nothing to do with your chances of approval. If you have poor credit try Capital One or Orchard Bank, you can see the approval and scores of other people on this site.
hardeight 1 year ago
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Annual fees are usually designed for people with lower credit or high end rewards cards. The fee itself has nothing to do with your chances of approval. If you have poor credit try Capital One or Orchard Bank, you can see the approval and scores of other people on this site.
hardeight 1 year ago
why in the world would you pay a annual fee in the first place that my freind? that is extra money that the card company is makeing off of you on top of the arp rate. good to bank rate .com and see what type of card you might beable to get stay away from capital one nothing but problems with that company. but orchard is a good one to look at also matter of fact a very good one, hope this helps you.
lostcause 1 year ago
Back when i had a 720 score(2000-2002) I had a chase platinum and a Capital One card. Loved them both. No problems with either(Both closed in 2005 on my request to handle debt) But my score has gone down to about 620 and now its back up to about 655 with not a penny of debt. I had applied for 3 different no annual fee cards over the last 3 years and got denied each time. So i was trying to figure out if the annual fee cards raise the chances of getting approved so i don't keep getting credit inquiries on my report. If I have to pay $3/month to have a card to raise my credit back up it's a reasonably fair trade off in my opinion. With the capital one card they give 2% cash back on gas and groceries. thats $166/month i have to charge on gas which is only about 4 fill-ups(which is a little less then what i usually spend) so at the end of the year my cash back savings will be covering my annual fee, so i break even. I figure thats the same as having a card with no annual fee and no rewards. I will pay off the card at the end of every month before the closing date, so i wont get hit with interest. I learned you don't swipe the card unless you got the money in the bank to back it. But thank you for your opinion, i believe hardeight had actual answers to the questions i was asking though.
Orbity 1 year ago