Looping the Hen

Capital Done...

Oy vei...sometimes I feel like I am gaining some ground in my finances, on others I realize I can still easily do some very stupid things. So I have (should be 'had', but more on that in a bit) a Capital One card. It was a no-annual fee card, good interest rate, the whole nine. Well, I haven't had a balance on it in over a year, and somewhere in the fine print it says that if I don't use it for a year, they can charge me an annual fee. Well, every time a bill from them comes in, it goes straight into the shredder without being opened, because its got a 0 balance right?

Duh. So in November I get hit with an annual fee, of course followed up with a late fee in December, January and February. Finally I get a note from the little credit-guy about a week or so ago (one of those services that tell you when there is a change to your credit report...it's expensive, but in this case very worth it) saying I had a bad mark hit my credit report. Ugg, I haven't had a bad mark on my credit report since my bankruptcy in 2000, so I'm a little miffed. So I immediately paid off the balance, and called Capital One later that morning after several cups of not-Dunkin-Donuts coffee.

Me: Hi there, I'd like to close my credit card account. I got whacked by the invisible annual fee, and although I do realize I should probably open my mail every month, I got used to 0 balances blahblahblah.
Them: You are such a fantabulous customer, if you'll stay with us we'll waive your annual fee.
Me: Umm, but I didn't have an annual fee, and after not using my card for a year, you charged me an annual fee and dinged my credit.
Them: Well, we can even credit your account the annual fee you paid this year.
Me: Umm, that doesn't help me with the $100 in late fees you've charged me. I still want to close my account, thanks anyway though.
Them: Ok, I will process your cancellation.

So all seems well and good, and I have a little bit more money wisdom under my belt (Yes, Mom, I am horribly embarrassed!). A week later (yesterday I think), I get a note in the mail from Capital One. I figured it was my cancellation confirmation or a beg me to stay letter or somesuch. But no.

'Sir, thank you for deciding to keep your account open with Capital One. Per our conversation, you will no longer be charged an annual fee.'

I know I am dense sometimes, but holy senile misrepresentation Batman!

Anyhoo, I am expecting to have another useful conversation with them tomorrow.

Whee, caveat emptor and all that.