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Valued Contributor
Posts: 2,110
Registered: ‎12-29-2011
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Re: Cap 1 Eo Thoughts


mauve wrote:

Why be angry about it? 

 

I appreciated Capital One taking a chance on me. They're my oldest card, I shouldn't have to just close it. I know it wouldn't impact my AAoA for 10 years, but honestly, I just want to have my oldest account open. I never had an AF, but if I did, I would have no qualms about asking to have it waived. 

 

I had gotten tired of front line CSRs not being able to do anything for me, CLI-wise, so I called the EO and got my $500 CL turned into a $5000 CL. 

 

If they hadn't, I would have kept the card open anyway because of the oldest-card thing, no AF so no-skin-off-my-nose thing, and because they have no transaction fees for foreign use (I live about as close to Canada as to the closest state). 

 

And, what, some people call the EO over things that others consider petty? If Capital One decides to change the number or re-evaluate the EO role, they surely will look at the kinds of requests coming through and will probably figure out that they do need to have easier ways for people to move their rebuilder cards into ones with decent limits. If they adopted an AMEX-style grandfathering-in of credit history, keeping an older rebuilder card wouldn't be neccessary, even! 

 

In any case, if the EO were being systematically abused, it probably wouldn't still be open. And they do reject some requests, so they're not willy-nilly doling out goodies regardless of the merit of the request. 

 


+1000 Go Mauve!

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






Regular Contributor
Posts: 125
Registered: ‎02-02-2013
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Re: Cap 1 Eo Thoughts

I wonder if Cap 1 has actually made changes to their business model (pertaining to how they issue credit) based on disenchanted customers from forums such as this one and others. Are the numbers of folks on here really that big a per cent of their business? Also wondering if the average Cap 1 customer even knows that there is such a thing as an EO number??? From what I read elsewhere, they're a huge and very profitable company. Just curious. Maybe this is the direction they were going in anyway?
EX 805 FICO, EQ Fico 762; TU. 768Discover)
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Contributor
Posts: 103
Registered: ‎05-17-2009
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Re: Cap 1 Eo Thoughts

[ Edited ]

@ mauve, I wasn't mad or upset when I made this post. Maybe it hit a nerve with you judging by your comments " Why be angry about it " or  " And what, some peoplle call the EO over things that other consider petty?  My post was my opinion, granted Ive never had bad credit with scores in the 500 or 600's and never will. So maybe my comment  looks different in the eyes of someone who rebuilding there credit? And I also stated in my original post i think the EO is a great way for people who deserve CLI or PC . Its was the people who didn't have a clue about credit that COULD make it hard for people to use th EO in the future.

CC: Amex Green ( NPSL) Amex BCE ( 38.1 K ) US Bank Sig Cash ( 20K ) Pen Fed (42K) Chase Freedom ( 7.5K) Discover More (22K ) Cap 1 QSilver (10K) Barclays Rewards (9K) Care Credit (5.5k) Sears (12K) JC Pennys (6K) Dell (15K) Key Bank (19k ) Key Bank (16K) FFO (7.5 K) Shell ( 600) OCCU ( 20K ) City TY (10.5K) CSP (17.5k) Regions ( 18K )Simmons (15K) Regions BLOC (125K) Fuel Rewards MC(10K )Amex Hilton ( 23k)

TU ( MFICO 5/11/14) 812
EQ ( MFICO 5/11/14) 790
EX ( MFICO 5/11/14) 805

Community Leader
Senior Contributor
Posts: 27,566
Registered: ‎02-07-2013
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Re: Cap 1 Eo Thoughts

[ Edited ]

This topic IMHO has run its course

 

CAP1 is CAP1 and is a very useful tool for rebuilders as well as excellent credit profiles and no different then any other lender who has the right to be selective in its lending practices and most lenders have cards with AF's or low limits 

 

Each has a pitfall such as HP's for CLI's CAP1 doesn't 

CAP1 has also IIRC never frozen anyone's accounts or seen signs of FR,AA,CLD certainly can't say this of Chase,Citi or Amex

Citi,Discover,Barclay and Chase HP and can be stingy as well

Amex SP if denied HP if approved for current customers

GE was very generous and now we are seeing signs of them pulling the reigns in due to possibly selling off the consumer lending business....humm are they getting stingy better watch that JCP and care credit 

 

All require a call for CLI's Cap1 just uses the EO route and it is definitely there right and if someone doesn't approve of their lending and CLI methods its certainly their right to seek out other lenders and their methods of PC's,CLI,s and criteria for approvals. Thus in some views Citi,Barclay,Chase and Amex system all have AF's and they are not waiving in most cases after the promo is over.

 

As a client of lenders who make money off of you through either interest,swipe fees, AF you have the right to ask through any means available to you for what you desire even if you have to write the EO of the company and it would behoove the lender to keep a client happy and money coming in.....

 

To be honest CAP1 is smart lets look at it another way 30 million people use our cards but only 500,000 know to contact the EO for expedited service......not a problem make them happy because the other 29.5 million I'm saving money on..Thanks MyFico for keeping us abreast of any and all potential ways to help the consumer sav and make money..

 

What is actually the difference of contacting the EO vs. calling customer service of another lender (none) you made the call to get what you wanted at the time. Just a different point of contact and in the age of social media this is now changing the landscape as well.

 

OP you have cards with AF someday you may wish to contact Amex and complain about the fee it just makes sense not to pay for something that a lender may give you for free or you feel that you can save 95.00 here there everywhere to apply towards that new auto but don't look down on a post or poster that states I don't like low limits or AF's because no one and this includes you would pay them if you didn't have too and until you know the limits of your approval you don't know if it's 300 or 30,000 !!!!!!!

 

 

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Contributor
Posts: 103
Registered: ‎05-17-2009
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Re: Cap 1 Eo Thoughts

Why would i watch my JCP or Care Credit account ?  Could care less about GE and there cards, had them since 98 ,Only use Care Credit for vet bills, I get a 20% discount. Been years since I used either of them. And one more time since  you didn't read my original post . This wasnt about about looking down at someone. It was my opinion that if everyone used the EO , Cap 1 would shut the process down. And reading some of the latest comments on here. Cap 1 EO office is now sending the files to be reviewed manually, so its taking longer to approve or decline peoples request. And as for your comment about " Even I wouldn't pay and AF  if i didn't have to .Your wrong AGAIN, being a CPA i can write off just about anything and I do . And as for the Amex fees, I will let you in on a secret , if you have their cards your'e going to pay the AF. No way around it !!!!!!!!!!!

CC: Amex Green ( NPSL) Amex BCE ( 38.1 K ) US Bank Sig Cash ( 20K ) Pen Fed (42K) Chase Freedom ( 7.5K) Discover More (22K ) Cap 1 QSilver (10K) Barclays Rewards (9K) Care Credit (5.5k) Sears (12K) JC Pennys (6K) Dell (15K) Key Bank (19k ) Key Bank (16K) FFO (7.5 K) Shell ( 600) OCCU ( 20K ) City TY (10.5K) CSP (17.5k) Regions ( 18K )Simmons (15K) Regions BLOC (125K) Fuel Rewards MC(10K )Amex Hilton ( 23k)

TU ( MFICO 5/11/14) 812
EQ ( MFICO 5/11/14) 790
EX ( MFICO 5/11/14) 805

Community Leader
Senior Contributor
Posts: 27,566
Registered: ‎02-07-2013
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Re: Cap 1 Eo Thoughts


b71913 wrote:

Why would i watch my JCP or Care Credit account ?  Could care less about GE and there cards, had them since 98 ,Only use Care Credit for vet bills, I get a 20% discount. Been years since I used either of them. And one more time since  you didn't read my original post . This wasnt about about looking down at someone. It was my opinion that if everyone used the EO , Cap 1 would shut the process down. And reading some of the latest comments on here. Cap 1 EO office is now sending the files to be reviewed manually, so its taking longer to approve or decline peoples request. And as for your comment about " Even I wouldn't pay and AF  if i didn't have to .Your wrong AGAIN, being a CPA i can write off just about anything and I do . And as for the Amex fees, I will let you in on a secret , if you have their cards your'e going to pay the AF. No way around it !!!!!!!!!!!


As a CPA you should know how and when to save money vs a write off...I can write my AF's off as well as a busines owner Lol

Any lender can shut down the process of asking for CLI's and not just CAP1

So another point you made very interesting a CPA who save himself money example 20% on vet bills but post about someone complaining about AF's and low limits and trying to save money wow but you don't think you selected a group of posters to post about........hummm interesting since it didn't apply to your profile and to a CPA saving is saving weather its a write off or monthly, yearly savings ...I.E. waiving AF

 

Don't take offense but I find that humorus indeed...LMAO 

BTW I read your post for what it's worth just my 2 cents thats all and there's plenty of Amex cards w/o fees (your secret needs some more research)

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Contributor
Posts: 103
Registered: ‎05-17-2009
0

Re: Cap 1 Eo Thoughts

So you read my OP, well I'm sorry that you can't comprehend it. My Op stated that I find it funny that people who have only had an account for 3-6 months complaining, And since you cant comprehend ,I also stated that it was great that people who improved there credit , should receive CLI and PC benefits and not be stuck with low cl and high fees.  And to answer your comment about my discount , its what the Vet offered. Just like when you apply for a CC you know your yearly AF is. Yes your correct about some Amex cards that don't have AF, but none that i would want.  Your opinion does not offend me at all . Being a CPA, and half owner of a Mortgage company.  I come to this site to learn more about credit . There are some great  people on here such as , Crashem, 09Lexie, and longtimelurker and many more that will help too answer someone question.. Then there are also the FUGAZI'S who think that just because they post a comment on everything there experts. Just my 2 cents.

CC: Amex Green ( NPSL) Amex BCE ( 38.1 K ) US Bank Sig Cash ( 20K ) Pen Fed (42K) Chase Freedom ( 7.5K) Discover More (22K ) Cap 1 QSilver (10K) Barclays Rewards (9K) Care Credit (5.5k) Sears (12K) JC Pennys (6K) Dell (15K) Key Bank (19k ) Key Bank (16K) FFO (7.5 K) Shell ( 600) OCCU ( 20K ) City TY (10.5K) CSP (17.5k) Regions ( 18K )Simmons (15K) Regions BLOC (125K) Fuel Rewards MC(10K )Amex Hilton ( 23k)

TU ( MFICO 5/11/14) 812
EQ ( MFICO 5/11/14) 790
EX ( MFICO 5/11/14) 805

Community Leader
Senior Contributor
Posts: 27,566
Registered: ‎02-07-2013
0

Re: Cap 1 Eo Thoughts


b71913 wrote:

So you read my OP, well I'm sorry that you can't comprehend it. My Op stated that I find it funny that people who have only had an account for 3-6 months complaining, And since you cant comprehend ,I also stated that it was great that people who improved there credit , should receive CLI and PC benefits and not be stuck with low cl and high fees.  And to answer your comment about my discount , its what the Vet offered. Just like when you apply for a CC you know your yearly AF is. Yes your correct about some Amex cards that don't have AF, but none that i would want.  Your opinion does not offend me at all . Being a CPA, and half owner of a Mortgage company.  I come to this site to learn more about credit . There are some great  people on here such as , Crashem, 09Lexie, and longtimelurker and many more that will help too answer someone question.. Then there are also the FUGAZI'S who think that just because they post a comment on everything there experts. Just my 2 cents.


WoW so sorry I hit a nerve 

I do agree this forum is about helping and up lifting everyone thus all posters should remember that! and not attack in anyway shape or form (FUGAZI)Smiley LOL

I can't speak for you but I share my vast knowledge, praise, uplift and help in all forums not just CC but my view seems to have upset your theories and perceptionsSmiley Wink

 

 

So I'll leave it at that and wish you a happy day LMBO with my 2 cents in tow and saving money on AF"s PEACE

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