For me it was simple, why would I walk away from two cards that increased my credit lines from $1,500 to $10,000 with a 10.25% rate? If all you had to do was send an email and have a 4 minute phone conversation to increase your spending ability by 7x would it not be worth it? Also, couldn't you say that there systems are better than others because they allow their customers an opportunity to state their case? Why would anyone ever recon Chase, if you are denied and have to call the recon line isn't that a sign of systemic issues as well? As a consumer if I have an opportunity for a second look shouldn't I take it?
I already started taking my busniess else where after they fail to keep their end of deal in regards to gradurating secure cards when I was in rebuilding stage. All my cp1 orginated accounts have been closed, I will be closing my 2 hsbc cards in may , and hope to have my car loan moved shortly after.
TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!
I keep them because both my Cap One accounts are 8 years old so closing them would kill my Average Age of Accounts. I just charge a pakc a gum on each once a year to keep them open with no balance
I don't want to add on more accounts right now, so I'd rather take the CLI to help with UTIL than take the hard pull and new account. Adding two new cards and a loan was enough for awhile for me.
|Chase Freedom $9500|
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
|Lowe's CC $8500|
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
I'm happy for all the success people are having lately with cap1 exec office to get CLI. Everyone seems so happy to get them and in part they should be.
My question is why are y'all staying with them? Clearly if so many have to get exec staff involved for something as simple as a CLI then they have some major systemic problems.
I am still with them for several reasons;
1. My two oldest cards are Capital One, mainly because they gave me credit when no one else would.
2. My highest limit card is with them.
3. They do limit increases without hard pulls.
4. They allow product changes.
5. They give me rewards without an annual fee.
6. The exec contact works as well as or better than the credit analyst or recon paths that I take with other cards.
The point at which capital one customer service no longer helps me and I have to escalate happens sooner than it might with some other cards, however the options and service available to me once I do so is superior.
I don't think as a rule you need the exec to process a limit increase. Many people get them without that. But many of us here have credit steps and subprime products. Those come with internal caps; they would prefer a new app once you have outgrown that card. I'm stoked to find out I can PC it with a little help from the execs.
Outside of credit limit increases, I have no complaints about Capital One. And Capital One took a chance by extending credit to individuals with credit issues, myself included but over the years the increases stopped. And they are my go to card when I travel out of the country (no fees). And when my credit card was compromised they reversed all the charges made to my card without any issues. And perhaps now with the Exec office authorizing credit limit increases (or whoever's authorizing) they'll policies will change. Imagine if no one called to complain.
I am just glad that they waived the AF and increased the CL. I was thinking of closing it, but glad I didnt. It is my oldest account on my credit report after I started rebuilding!