Cap One Survey

[Anonymous]

Just did a survey from cap one and thought you guys/girls might like to see one of the questions. It asked me which of the following products would I be interested in and listed the following products. I picked credit line manager.

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Credit Line Manager

It can be so frustrating to get declined using my credit card, especially when I need it for an emergency or for a big purchase. I wish there was a better way to manage my credit line so that I would have more control over how I use my credit.

With Credit Line Manager, you can feel confident that you can use your credit card when you are close to or at your credit limit. Plus you'll get access to information about your credit line that will help prevent unwanted over limit fees.

That's because Credit Line Manager:
# Lets you know exactly how much you can go over your existing credit limit without being declined
# No Fee for Minor Infractions - you don't pay a fee when you accidentally go a little over your credit limit
# Alerts you when you're close to your credit limit
# You pay a fee only when you go over your credit limit. Everything else is free!

 


Price:
$29 every month you go over your limit

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Credit Power

The maximum amount I can charge to my credit card is too small and I worry about going over and getting surprised by a fee or being declined for a purchase.


With Credit Power, you'll have the extra buying power to get the things you need and you won't have to worry about incurring fees for going over your credit limit.
 


That's because Credit Power...
# You get an immediate increase to your credit line
# You pay a simple annual fee each year you want to increase your credit line
# Eliminates the potential for embarrassment of a decline

 

 


Price:
$29 per year for $200 of additional credit

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No Surprises

Occasionally I get close to my credit limit when I have to make a big purchase. If I have to go over my credit limit, I wouldn't want to get declined.

 

With No Surprises, you get peace of mind that you can go over your credit limit when you need to. Plus you won't get charged an unexpected fee.

 

That's because No Surprises...
# Eliminates the potential for embarrassment of a decline
# Charges a simple annual fee for total peace of mind
# Allows you to charge 20% over your limit without being declined
# Alerts you when you're getting close to your credit limit
# Eliminates the surprise of higher monthly balances due to unexpected fees

 Price:
$29 per year

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[Anonymous]

Oh wow...so Cap One is considering charging us for CLIs?!?!??!

[pattycake]

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@Anonymous wrote:
Oh wow...so Cap One is considering charging us for CLIs?!?!??!

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That's what Providian used to do about ten years ago.  For people who either don't have a big CL or those who are still learning how to manage credit, it might be an option.  It might be less tempting if you have to pay for it.

[Anonymous]

Actually if it were $29 for $500 CLI instead of $29 for $200  it might be worth it.

Didn't know that Providian ever charged for CLI, but my Providian wasn't opened until 2004. They gave automatic CLIs so often then that before Wamu took over my CL had reached $12,500.

[QueenBean]

Hmm.....I actually read this to mean that they are offering a type of "overdraft" for your credit line, not actually an increase in the line.  I think this would actually be very convenient, especially if your had a lower CL to start with.

[Anonymous]

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@QueenBean wrote:
Hmm.....I actually read this to mean that they are offering a type of "overdraft" for your credit line, not actually an increase in the line.  I think this would actually be very convenient, especially if your had a lower CL to start with.

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There were 3 options given, each one a bit different. The second one appears to be a CLI. Maybe I'm reading it wrong though. All 3 share similarities.

[iDShaDoW]

BoA offers this type of "overdraft" on credit lines... for free...

So not only is Cap1 extremely stingy with CLIs, they're now charging for them as well...

I've even heard they're kinda stingy with GW letters too... hopefully I won't have bad luck with that... had a card with them for almost 5 or 6 years now with no lates ever and I managed to be away on vacation for a few days when they had a fee due in the middle of the month instead of at the beginning or end...

[Anonymous]

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@iDShaDoW wrote:
 

So not only is Cap1 extremely stingy with CLIs, they're now charging for them as well...

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Interesting though, I just got a letter from Cap1 announcing $1000 CLI (total CL is now 1750). It wasn't initiated by me (I asked them a couple times last year) and I have UTI well above 60% now. I'd say that's quite an unusual behaviour for them.

Anyone else got similar letters?

[Anonymous]

I remember back in the days where I had Providian and they charged me $50 for a $600 CLI.  Brought me up to a $1100 CL.  Man, I wish credit was easy to get like back in 2001 when I had Providian.

[Anonymous]

Of course, easy credit back then is what lead to tougher credit now...lol.  But yeah, it was fun, wasn't it.