Reply
Regular Contributor
remarc
Posts: 170
Registered: ‎03-05-2012
0

Cancelled Capitol One

I did it.. After years of low CL... Excuse after Excuse for reasons as to why they can't increase my credit limits or upgrade my card. Terrible phone support and CSR's that call me MR. Mark and can't understand my questions, reading from a script ... I cancelled my cards with them.. 

 

I have enough Sub prime cards now not to worry and IM gardening for 6 to 8 months so when all said and done I should be good...

 

They had no hesitation to cancel my cards.. Which is fine and once I pay my BBRZMC down to 0, which is now Capitol One I will be closing that too.. All these cards have Annual fees and not worth the effort.. The only thing that does kinda suck is my level of credit line will drop down a $1000 or so... 

 

 

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Cancelled Capitol One


remarc wrote:

I did it.. After years of low CL... Excuse after Excuse for reasons as to why they can't increase my credit limits or upgrade my card. Terrible phone support and CSR's that call me MR. Mark and can't understand my questions, reading from a script ... I cancelled my cards with them.. 

 

I have enough Sub prime cards now not to worry and IM gardening for 6 to 8 months so when all said and done I should be good...

 

They had no hesitation to cancel my cards.. Which is fine and once I pay my BBRZMC down to 0, which is now Capitol One I will be closing that too.. All these cards have Annual fees and not worth the effort.. The only thing that does kinda suck is my level of credit line will drop down a $1000 or so... 

 

 


1K isn't that bad if your overall util. is decent. I wouldn't worry too much about it.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
Mike360
Posts: 433
Registered: ‎03-19-2010
0

Re: Cancelled Capitol One

Congrats! I'm gonna cancel mine early next year.

~~In my wallet: Best Buy $7500, Dell Preferred $5500, Discover IT $4000, Chase Freedom $3500, Barclays NFL Extra Points $3300, Sears $2800, Bill Me Later $2100, CapOne Platinum $2000, Kohls $1500, Target $200
Senior Contributor
drkaje
Posts: 3,483
Registered: ‎07-25-2008
0

Re: Cancelled Capitol One

If a company doesn't grow with you, it's time to say goodbye.

 

From what I've read here, Cap 1 rarely moves people up from whatever tier the initial approcal was at. Have seen posts where people couldn't get a CLI forever but were appoved for better Cap1 cards.


Starting Score: 675
Current Score: EX 754 FICO, EQ 732 FICO
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Valued Contributor
afbar1114
Posts: 2,177
Registered: ‎01-09-2012
0

Re: Cancelled Capitol One

i am cancleing mine this year once i pay them both off


In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
Established Contributor
ztnjpv
Posts: 726
Registered: ‎02-01-2012
0

Re: Cancelled Capitol One

Once again, I must put the business model of Capital One into question. I own a business so I naturally have that kind of mentality when I consider seemingly counterproductive behavior from companies....even large successful ones like Capital One. 

 

If I was a higher up at Cap1 with a seat at excecutive meetings and the ear of the CEO and/or VPs, matters like this would be on my mind and I would do some real investigating into it to see the true benefit to the company's growth and make serious reccomendations. Perhaps it's been done already and there is a logic to it but I'm quite skeptical.


Starting Scores (Sept 2011): All lower-mid 600s. CURRENTLY: TU FICO: 801 (3/28/14), EQ FICO 808 (3/28/14), EX FICO 798 (9/4/13) (PSECU). Goal: Achieved! Now Maintain!
Regular Contributor
remarc
Posts: 170
Registered: ‎03-05-2012
0

Re: Cancelled Capitol One

[ Edited ]

Right Ztnjpv.... I do not understand how they contuct business. I had two cards with them.. I was never late in payments and always used the card everymonth, Sometimes I paid in full and others I left a small balance. I did this for 3 years. 

 

I called many times to ask about upgrades or higher CL. I pointed out to the CSR that I wish to build a future with capitol one by growing with them regarding cards and CLI just like I was doing with other Sub Prime cards such as Discover etc, it never seemed to matter to them.. I always got the same response and generic script reading.  It always seemed to me as though they never really listening to my concerns and queries. It was one reason or another that I could not get any sort of change to my account... After a year of using the card & PIF when I asked for CLI the CSR kept saying " Your account is not eligible for manual review" ... 

 

All I see is that they want you to keep applying for more cards and unless you fit there unknown criteria nothing ever seems to change. Too boot I hated calling them .. That's why Discover is awesome in my eyes.. Unmatched customer service. 

 

If only someone from capitol one took the time and read the comments and personal opinions from this board they would be in shock at how frustrated we all are with Capitol One.. They must be loosing customers hand over foot.. I expect on the flip side they are attracting new people to credit like no tomorrow.

 

Anyway rant over.. 

Regular Contributor
psychoinhell
Posts: 565
Registered: ‎06-12-2010
0

Re: Cancelled Capitol One

I have two Cap1 cards.  Cap1 Rewards opened 2009 and Cap1 Plat opened 2011.  Both started at 500, six months later they were 750 and there they sat...  Now last year I was so aggravated with Cap1 that when the AF came due I was going to dump the Rewards card and keep the plat until it was 2, then dump it.  Before I made that call, I got my statement and my CL jumped to 3750.  I was shocked!  I was in awe!  I think I had a minor stroke.  So obviously I did not cancel it last year, it was my highest CL card.  Well the plat is going to be 2 in less than a year and even if they do a repeat, it is gone.  The two card limit makes it impossible for me to get any preapproval from them for one of their cards that is really prime.  The Rewards card has been put in the SD, since I was able to recently get better cards.  I will keep it another year just to help my overall limit, but its days are numbered as well.

 

Last year, or the year before I remember reading people that said they had Cap1 cards with 5k or 10k limits.  They have to be prime cards.  I am still amazed they jacked me up to 3750!


Starting Score: 600ish in 2007
Highest Score to date: EQ 716 May 2012(lender pull)
Current Score: EQ 685 6-21-12 ; Walmart TU Fico 744 6-05-12
Goal Score: 801
Valued Contributor
rootpooty
Posts: 1,730
Registered: ‎10-28-2011
0

Re: Cancelled Capitol One

they arent going to change ever. its a rotating cycle with them. they are the easiest card to get with zero credit history and not too shabby of af. people are forced to rebuild crawl back to them and millions of students turn to them for credit. i simply look at them to use to build then get out. USE THEM in other words lol. they arent going to sweat people cancelling them. IMHO they are prob the best when it comes to sub prime and they do come in handy if needed to rebuild

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Regular Contributor
psychoinhell
Posts: 565
Registered: ‎06-12-2010
0

Re: Cancelled Capitol One

What rootpooty said +1.  They are using you, so you may as well use them.  By the time you qualify for a real prime card with them, you are in a position where you do not want to be hit with a HP on all 3 CRAs.  Now if they did a SP on all three or even just a single HP, they might have more people that will stay with them. 

 

Who wants a Cap1 card (and deal with Peggy) when you can qualify for a AMEX, Discover, Chase, Citi, BOA or any of the other major CCCs?


Starting Score: 600ish in 2007
Highest Score to date: EQ 716 May 2012(lender pull)
Current Score: EQ 685 6-21-12 ; Walmart TU Fico 744 6-05-12
Goal Score: 801

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+