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Looks like I'll be closing this card at the end of the month. I called the HSBC backdoor numbe for a CLI, I transfered to another dept asked for CLI, gave my information was told it will be looked at. Checked email today an alert from USAA CMS, Cap1 HP on EQ. I don't have a cap1 card, called the number then remembered I do have one, BBRZMC ughhhhhhh, HP and CLI declined, will get letter in mail. Lowest limit 500 and cap1 to boot, I think CLI's are done for with that one. If I need anything from BB I'll just put it on my Freedom or my Discover for some real rewards.
No growth with Cap1. RIP
Never saw the advantage of store cards myself, especially if you have ggod cards with solid rewards. My USAA visa doesnt have great rewrds but the USAA shopping mall offers x2-x7 points when you use the mall to shop so it makes up for it.
+1
I kicked them to the curb earlier this year, the AF is killer. I knew that CLI's would be out of the question. It was nice to shop in the store for stuff, but honestly I was allready buying 90% of my electronics from either Amazon, NewEgg or Tiger Direct better prices. From time to time Chase offeres 5pts per dollar on purchases at NewEgg. Thats even better than the bbrzmc.
@Shogun wrote:No growth with Cap1. RIP
Capital One truly needs to find a way to build a bridge between their rebuilder cards and their prime cards. They have been able to do what many credit card companies have been unable to do which is why I have been long their stock since it was $40 a couple years ago.
The majority of CC companies are Prime only (Chase, AMEX, Citi) or Subprime only (First Premier, CreditOne). Capital One is both. They have the ability to generate revenue on fee based subprime cards AND interest/swipe-fee based prime cards. However they have a high turnover rate with their subprime cards as compared to their prime cards. I would venture (no pun) a guess that it is because they lack the CL-growth and demands of their semi-prime customers (620-680) and thus lose them as customers.
The scary thing is that former cardmembers are unlikely to go back to Capital One after closing their rebuilder card once they reach levels that would qualify them for their Venture or their other prime cards.
Cap1 does give CLI's on the store card, im not sure about the RZMC.
Earlier this week (Mon or Tue), I hit the luv button and was instantly approved for a $300 CLI. It wasn't a hard pull. It's still a toy limit (went from $400 to $700), but they DO give CLI's. This card started at $100 two years ago. Mine is the one without an AF.
@Mace wrote:Earlier this week (Mon or Tue), I hit the luv button and was instantly approved for a $300 CLI. It wasn't a hard pull. It's still a toy limit (went from $400 to $700), but they DO give CLI's. This card started at $100 two years ago. Mine is the one without an AF.
I thought GECRB was bad with the $150 CL's..................
I had gotten a CLI from 300 to 500 when it was still with HSBC. I don't know if that has anything to do with it, but it's coming up for AF in Oct, so if I don't get any love it's getting closed a becoming a part of my rebuilding history.
Two of the CLI's were while it was still HSBC. The most recent was, obviously, Cap 1. The initial $100 CL on this card was a joke but it was my first card in about eight or nine years so I was happy to get it. If not for that card and it's joke of a CL, I wouldn't have the cards I have now, wouldn't have been able to get my car loan, and wouldn't have been able to buy a house earlier this year.