AMEX Blue Cash Preferred Approval!

[Lilsnukems]

Hello everyone!

I am new to this forum and have learnt so much in 4 days!

A few hours ago, out of shear frustration and annoyance with my Capital One card I applied for the AMEX Blue Cash Preferred credit card. I haven't applied for a new credit card in 6 years and honestly didn't really care to open any new accounts.  For some reason last week it hit me that in the 9 years I've had my Capital One card I never received a credit limit increase, so I applied for one, and was denied. Why? I have no idea. Yeah, they sent an explanation with the rejection letter but it made no sense based on my credit score and credit report. Reached out to a few representatives, trying to get an explanation and nothing. No one was able to explain this to me.

So I opted to apply for this AMEX because the rewards are amazing. Guess what, in less than 60 secs I was approved, with a $10,000 credit limit and 12.9% APR (which is the lowest) after the introductory period. This makes me even more upset with Capital One! I sent an email to an EO on Friday and if they do not oblige my request to have a credit line increase and reduced APR I will be forced to close the account. Makes no sense, been a solid customer for 9 years and they give me no love, but AMEX gives me all the love in 60 seconds....screw 'em!

[azguy13]

Good for you. Cap1 is not known for CLI's by any means. However, after 9 years they should have at least given you one. Flat out denying you is just an insult.  Just the other day I contacted Cap1 facebook and they pushed up my CLI and PC to Quicksilver to the executive office. They gave me a small increase but it wasn't what I wanted. Anyways, the point is that Cap1 is there when you need them in the beginning but they fail to grow with you.

I am glad you found a new home with Amex. Treat Amex well and they will return the favor. Also, NFCU Flagship is supposed to be a very good card. 

[Lilsnukems]

Thanks for the support!

Just last night I posted the stats in my signature line and listed 2 of my goals as 'AMEX Blue Cash Preferred card' and 'Increase total credit limit to 30K". In just a few hours with AMEX, I was able to achieve that! Time to update my stats! Is it too early to say that I'm in love with AMEX, lol.

[Luscher]

As much as you hate cap one do not close that account. Just sock drawer it. youve had it for a long time, and it is probably your longest account open

[Mellon]

congrats great starting limit with AMEX

[Lilsnukems]

Acutally this is what I'm struggling with. To close or not to close. Capital One is my 3rd oldest card, so I don't really know how much of an impact it will have on my FICO score if I close it. I don't want to hold on to a bunch of cards just for the sake of holding on to them. I'd much rather have fewer cards with higher limits than a bunch of cards with lower limits even if the total card limit was the same. Especially considering the Capital One charges me a $36 AF, I really want to just toss it in the trash. Maybe in a few years?

[Steelersboy]

that's crazy Ive been an AU and got an cli a couple of days ago on a cap1.

[youngandcreditwrthy]

Congrats!
And it's quite alright to profess your love for Amex; I know I do it on the reg.

C1 made me wait almost six years to get a big boy limit. -.-
Don't forget: after 61 days with Amex, you can request a cli to $25,000.

[SnackTrader]

The Capital One card should remain on your reports for 10 years after it is closed. The only impact it would have is reducing the amount of available credit you have in your utilization calculation.

Read here:

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/td-p/347190

If there is an AF and you don't feel that you need the card, feel free to close it.

[CribDuchess]

Congratulations on your BCP approval!!  That is a great card!!

You know, I was in the same boat as you are with Cap One.  I acquired a Cap One Plat Visa just over 9 years ago.  After having it for just over 8 years with an AF, no rewards and a $1,300 CL with no increases in several years, I decided to contact their Exec Office.  A lot of us on here have done that and most are successful, including me.  After contacting the Exec Office and speaking to them, I was able to increase my limit to $8,000, drop the AF, and PC the card into their green cash rewards Visa siggy card.  Next February, I'll probably call the Exec Office again to PC to the Quicksilver.  I need to wait until then so that I can earn my .5% annual bonus first.

You can either google the email address for their Exec Office, or you can call them at 1-800-955-1455, Monday-Friday.

Good luck!!!