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A CAPITAL ONE Application Spree? You Better Believe It!

Established Contributor

A CAPITAL ONE Application Spree? You Better Believe It!

Yes, yes...I know...Capital One is a credit pariah to many on this board, but post-house closing, they have been VERY generous to me:

 

Sony Cap1 VISA card: Approved for $2,500

 

Cap1 Cash Rewards: Approved for $3,000

 

Best Buy Reward Zone Mastercard: Approved for $2,500

 

Menard's BIG card (Menard's is EVERYWHERE here): Approved for $5,000 (I didn't even know Cap1 could count that high...even if this is a store card!)

 

All cards approved on the same day!

 

By my count, that's $13,000 in new credit Smiley Very Happy

 

I know what you're thinking...why not Discover? Why not Citi? Why not Chase...BOA...AMEX?

 

Here's why...I have a year 2010 BK7...and the aforementioned prime lenders won't touch me with a 30-foot pole.

 

But Capital One did...in a big way...and for taking a chance on a guy who screwed up in the past and is now a responsible credit user (and 1st time homeowner), that guy says THANK YOU, CAPITAL ONE Smiley Happy

 

Note: Edited to correct errors

I'm Spartacus!

hr>Starting Score: EQ 546, EX 547, TU 580
Current Scores (lender): EQ 725 , EX FICO 720, TU 737 FICO scores>
Goal Score: 750
Take the FICO Fitness Challenge
Message 1 of 15
14 REPLIES
Established Contributor

Re: A CAPITAL ONE Application Spree? You Better Believe It!

Capital One definitely gets a lot of flak -- oftimes dservedly so -- but I agree, they are one of the few lenders who will help you out when you're down. They can be a chore to deal with, but all-in-all, they've done me right.

 

So congrats man. Use those cards with pride.

      
Message 2 of 15
Established Contributor

Re: A CAPITAL ONE Application Spree? You Better Believe It!


Stralem wrote:

Capital One definitely gets a lot of flak -- oftimes dservedly so -- but I agree, they are one of the few lenders who will help you out when you're down. They can be a chore to deal with, but all-in-all, they've done me right.

 

So congrats man. Use those cards with pride.


Much appreciated!

 

I should have mentioned...none of the cards has an AF...and the interest rate is pretty good on the co-branded cards (not that it matters since we use/pay off, but still a nice gesture).

 

I'm Spartacus!

hr>Starting Score: EQ 546, EX 547, TU 580
Current Scores (lender): EQ 725 , EX FICO 720, TU 737 FICO scores>
Goal Score: 750
Take the FICO Fitness Challenge
Message 3 of 15
Super Contributor

Re: A CAPITAL ONE Application Spree? You Better Believe It!

Congrats 

BTW I love my cap1 cards

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 15
Established Contributor

Re: A CAPITAL ONE Application Spree? You Better Believe It!


myjourney wrote:

Congrats 

BTW I love my cap1 cards


Same here!

 

Confessional time: I was once a Cap1 hater. They were restricting access to CLIs...and thus, in my mind, impeding my credit improvement.

 

Then I realized...these people gave a credit card to a guy who had just hit rock-bottom. Sure that eventual $750 limit seemed piddly, but I had just filed for Chapter 7 BK (not related to CC debt, but rather mounds of medical bills from keeping my son alive). Were they supposed to just hand me the keys to the vault?

 

Cap1 has a very particular, SUCCESSFUL business model. They are generous to few, but cautious with many. They charge nominal AFs...waive them at times for good customers...and give decent-but-not-Earth-shattering CLIs and CLs at times.

 

I have grown to appreciate the role they play in the credit world. People here swoon over BOA/Citi/AMEX/Chase and the like...but the truth is, very few of those companies waste their time even considering people like me. It's as though I am a Yamaha motorcycle rider walking into a Harley Davidson shop Smiley Very Happy At least Cap1 lets me in the door without judging me...and that really rubs me the right way.

 

I'm Spartacus!

hr>Starting Score: EQ 546, EX 547, TU 580
Current Scores (lender): EQ 725 , EX FICO 720, TU 737 FICO scores>
Goal Score: 750
Take the FICO Fitness Challenge
Message 5 of 15
Regular Contributor

Re: A CAPITAL ONE Application Spree? You Better Believe It!

Congrats!  Cap One let me back in the door too after I burned them in my BK.  $500 limit, but it's a start.

Message 6 of 15
Super Contributor

Re: A CAPITAL ONE Application Spree? You Better Believe It!

I love my cap1 as well. They gave me my first ever credit card with a 3k limit and no AF Smiley Very Happy 

 

Congrats on your spree. 

Message 7 of 15
Mega Contributor

Re: A CAPITAL ONE Application Spree? You Better Believe It!


CreditCrusader wrote:

Yes, yes...I know...Capital One is a credit pariah to many on this board, but post-house closing, they have been VERY generous to me:

 

Sony Cap1 VISA card: Approved for $2,500

 

Cap1 Cash Rewards: Approved for $3,000

 

Best Buy Reward Zone Mastercard: Approved for $2,500

 

Menard's BIG card (Menard's is EVERYWHERE here): Approved for $5,000 (I didn't even know Cap1 could count that high...even if this is a store card!)

 

All cards approved on the same day!

 

By my count, that's $13,000 in new credit Smiley Very Happy

 

I know what you're thinking...why not Discover? Why not Citi? Why not Chase...BOA...AMEX?

 

Here's why...I have a year 2010 BK7...and the aforementioned prime lenders won't touch me with a 30-foot pole.

 

But Capital One did...in a big way...and for taking a chance on a guy who screwed up in the past and is now a responsible credit user (and 1st time homeowner), that guy says THANK YOU, CAPITAL ONE Smiley Happy

 

Note: Edited to correct errors


CONGRATS!!!

 

I dont blame ya go with the lender that will trust you and you like!




EQ FICO 548 3/3/16
Message 8 of 15
New Member

Re: A CAPITAL ONE Application Spree? You Better Believe It!

Congrats on the approvals. Just curious though, you said you got the cash rewards card with no AF. I thought that was strictly for those with excellent credit and the $39 AF was for us with some blemishes like a recent BK.

Message 9 of 15
Super Contributor

Re: A CAPITAL ONE Application Spree? You Better Believe It!


CreditCrusader wrote:

myjourney wrote:

Congrats 

BTW I love my cap1 cards


Same here!

 

Confessional time: I was once a Cap1 hater. They were restricting access to CLIs...and thus, in my mind, impeding my credit improvement.

 

Then I realized...these people gave a credit card to a guy who had just hit rock-bottom. Sure that eventual $750 limit seemed piddly, but I had just filed for Chapter 7 BK (not related to CC debt, but rather mounds of medical bills from keeping my son alive). Were they supposed to just hand me the keys to the vault?

 

Cap1 has a very particular, SUCCESSFUL business model. They are generous to few, but cautious with many. They charge nominal AFs...waive them at times for good customers...and give decent-but-not-Earth-shattering CLIs and CLs at times.

 

I have grown to appreciate the role they play in the credit world. People here swoon over BOA/Citi/AMEX/Chase and the like...but the truth is, very few of those companies waste their time even considering people like me. It's as though I am a Yamaha motorcycle rider walking into a Harley Davidson shop Smiley Very Happy At least Cap1 lets me in the door without judging me...and that really rubs me the right way.

 


Well said Bravo

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 10 of 15