topic Re: Has your opinion of Capital One changed? in Credit Cards

Has your opinion of Capital One changed?

LesWH — Thu, 31 Jan 2013 03:03:16 GMT

It seems that a lot of people, myself included, have gotten lots of love from Capital One. Does this change your opinion of the company? Are they still "crapital one"? Do you think they are at least trying to do the right thing??

Re: Has your opinion of Capital One changed?

jake619 — Thu, 31 Jan 2013 03:12:52 GMT

IMO they still stink. I have one, even got the EO to CLI me. I think it's because I came into their fold as a low-end applicant at the bottom of the credit chain. For that I should be more appreciative but now that things have improved I feel they aren't growing with me. The $500 CLI was the dagger for me. Once I pass the Barclays test I will replace C1 with a better card.

Now had I entered their fold as a Venture cardholder I'd probably have a different opinion.

Re: Has your opinion of Capital One changed?

Revelate — Thu, 31 Jan 2013 03:17:20 GMT

They offered me and others credit when many other lenders wouldn't.

They served their purpose but they don't often grow with their consumers. Personally I don't have a problem with that, C1 helped me and regardless of whatever happens to the account I will never let that bother me.

Re: Has your opinion of Capital One changed?

ztnjpv — Thu, 31 Jan 2013 03:17:26 GMT

No. It hasn't changed and I am one of those recent Exec Office Success Stories.

Why?

Because if they weren't the company that they are infamous for being, these overtures to the Exec Office would be unnecessary. As it stands, the company has a culture and apparatus in place that creates the rude, draconian, stubborn and unreachable infrastructure that forces extraordinary measures to get a little decency from it. Hence, the contact to the EO.

So, no. Capital One still stinks. And I say this as someone who eventually got almost everything I ever asked for from them and eventually had almost every wrong righted. The amount of frustration, time, persistence and energy required for me to get things right is not forgotten despite the fact that I eventually got justice.

Re: Has your opinion of Capital One changed?

eviLution — Thu, 31 Jan 2013 03:33:17 GMT

Capital One has it's purpose and that's to help out people with bad credit get back on their feet with only a simple annual fee.

Half of last year all I had was prepaid debit cards from AccountNow and now I got almost 5k worth of credit to use. Thanks Capital One ;)

Re: Has your opinion of Capital One changed?

ztnjpv — Thu, 31 Jan 2013 03:38:31 GMT

If C1's purpose to help out bad credit applicants, they'd be like orchard or some other subprime company. But they have a variety of higher end credit score credit cards so they are more than just a subprime lender. The big flaw with them in their unwillingness to change their approach between the two pools of applicants they deal with.

They have a strict subprime style with their prime cards. Not good.

Re: Has your opinion of Capital One changed?

MrxLeo — Thu, 31 Jan 2013 03:38:52 GMT

Just sent an email to the EO requesting a CLI today. I'll let you know how I feel about them tomorrow. Lol

Re: Has your opinion of Capital One changed?

jake619 — Thu, 31 Jan 2013 03:40:08 GMT

eviLution wrote:
Capital One has it's purpose and that's to help out people with bad credit get back on their feet with only a simple annual fee.

Half of last year all I had was prepaid debit cards from AccountNow and now I got almost 5k worth of credit to use. Thanks Capital One ;)

That's only half the story. Their prime customers are generally happy with their cards. The trouble I see is how the subprime treatment is for most a dead-end street. To get out of this tier most must apply-up and then close the rebuilder card.

Re: Has your opinion of Capital One changed?

SpeedingWheels — Thu, 31 Jan 2013 03:41:48 GMT

No. My opinion of Cap1 has not changed.

Then again, I'm one of those people who is very grateful they offered me a partially secured product to start my rebuilding journey 18 months ago.

You see, I totally screwed up my credit when I was younger. To the point that I couldn't do any more damage to it in the last decade because NOBODY would give me credit at all. Cap1 however had a good offer on a secured product ($49/$200) and I gave them a shot.. and in return they helped me get into the position I am in now.

Over $10k in total credit and a score that is creeping up slowly.

The only stress I had with Cap1 was before I understood how they deal with payments from now accounts.. sometimes it takes a few days for a payment to post when you're new. Yeah, THAT stressed me out a bit but once I understood the deal it was smooth sailing.

I *hope* the EO approves my request to give me a CLI and kill the AF on my Cash Rewards card.. but if they don't I will thank them and explain that since Amex just opened an acct for me with a 2k limit and I have a Discover with 1.5k I no longer have a need for a $750 card with an AF and request they close BOTH of my accts.

No biggie.. I appreciate their help so far... Only now the tables have turned.. they need me much more than I need them :)

Re: Has your opinion of Capital One changed?

FloridaState12 — Thu, 31 Jan 2013 03:45:31 GMT

It has changed somewhat...there's a shred of hope now, IMO.

Their biggest problem is not letting their lower-tier customers graduate into "prime" customers. Now it's at least been proven that it CAN happen, but it's really a shame that you must go through the executive office in order to do it.

If they fix that bridge, and let those of us who start out with little/bad credit graduate into prime customers with better cards, CLI's, etc. then they can be a very good company.

Re: Has your opinion of Capital One changed?

chnceit — Thu, 31 Jan 2013 04:05:09 GMT

My opinion has not changed about Capital One; I like them because like I said before they help people out when they need them. Building and rebuilding they are flexible to help everyone. From not so prime cards to very prime cards they have a huge range of credit products. They might not be generous with normal CLI routes, but it does take time and talking to the right people.

Re: Has your opinion of Capital One changed?

breedo — Thu, 31 Jan 2013 04:14:51 GMT

My opinion of them has changed completely. I had a $300 limit card with them that I did not look after when I was younger and had a lot of serious lates up to 120 days on. This card now shows no lates at all, going back the past 6 years and it's a Venture 2 World Mastercard with a 5k limit with no foreign exchange fees. I travel a lot for work, and claim back the expenses, so I've already accured thousands of miles in the past 2 weeks. Very happy and great card for me.

Edit to say - I really don't feel like I had to "go through a lot" to get the CLI either. A simple email and I got a call back a few hours later. And the product change was a simple "chat now" on the website. Easy.

Re: Has your opinion of Capital One changed?

Give_Me_Credit_Please — Thu, 31 Jan 2013 04:20:59 GMT

IMO, I really appreciate Cap1 helping consumers to rebuild their credit, but also Cap1 does offer prime cards as well. I had Cap1 secured for a year now and haven't received any kind of unsecured PC at all. I believe that consumers like us shouldn't have to go out of our way to contact the EO to receive what we deserve.

If they can better manage their front line customer service to allow them to do more and have more control of our needs instead of going to the EO for resolution. I believe that if they can provide more flexibility on growth with their customer's needs, they would be moving in the right direction and be able to hold on to more customers.

Re: Has your opinion of Capital One changed?

tennisfan78 — Thu, 31 Jan 2013 04:32:16 GMT

They gave me credit when no one would offer me credit which eventually helped me a great deal with my rebuilding . with a simple email to EO office, no more annual fee, great CLI, and added rewards to my account. I am so happy to have capital one.

Re: Has your opinion of Capital One changed?

toppers555 — Thu, 31 Jan 2013 07:33:27 GMT

No. I actually loved Capitol One untill they failed to live up to promise of converting my secure card with them I had years ago , and poor service I got when closing card , and lack of even caring I was closing my accounts. I have closed all 4 of my orginal capitol one cards, and plan on closing the hsbc cards in april , and transfering my auto loan to another lender.

Re: Has your opinion of Capital One changed?

Revelate — Thu, 31 Jan 2013 07:42:52 GMT

To point something out, Cap One isn't the only lender which has different tiers of credit cards and people's getting stuck in somewhat awkward categories.

The Chase Freedom cards which resulted from old Wamu tradelines were similar as one example from a number of poster's reports, I'm certain there are others. For that matter, look at how the majority of secured cards are handled, there's very few which graduate compared to the many you close and start over with... and that's the same credit strata as Cap One unsecured rebuilders too for whatever that's worth.

Capital One has their business practices which are clearly working for them, it's absolutely not personal. I don't think it's worth getting up in arms over, just go elsewhere if they don't want your business after you've completed your journey through credit purgatory.

Re: Has your opinion of Capital One changed?

GangnamFICO — Thu, 31 Jan 2013 07:45:44 GMT

Don't fall in love with CC companies, you're a disposable commodity. Cap1 gave me my first subprime card, they were good at the time, now I've outgrown them and carry the annual fee just for the age of the account. Sock drawer your Cap1 cards first chance you get.

Re: Has your opinion of Capital One changed?

LesWH — Thu, 31 Jan 2013 08:09:14 GMT

Revelate wrote:
To point something out, Cap One isn't the only lender which has different tiers of credit cards and people's getting stuck in somewhat awkward categories.

The Chase Freedom cards which resulted from old Wamu tradelines were similar as one example from a number of poster's reports, I'm certain there are others. For that matter, look at how the majority of secured cards are handled, there's very few which graduate compared to the many you close and start over with... and that's the same credit strata as Cap One unsecured rebuilders too for whatever that's worth.

Capital One has their business practices which are clearly working for them, it's absolutely not personal. I don't think it's worth getting up in arms over, just go elsewhere if they don't want your business after you've completed your journey through credit purgatory.

ROFL@ credit purgatory!!! :womanlol:

Re: Has your opinion of Capital One changed?

AF_23 — Thu, 31 Jan 2013 08:48:25 GMT

Good if have suboprime scores and need a starter card, forever worthless if you have better options.

Re: Has your opinion of Capital One changed?

andre181 — Thu, 31 Jan 2013 10:50:44 GMT

No. They are still not any good in my opinion.

But the product is good enough to keep open. A $5k CL mastercard with no foreign transaction fee is very handy when travelling internationally, and the fact that its a cash back card helps too.