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I have been a Capital One customer for about nine months now and through my experiences as well as valuable information I have gathered from other posters here on MyFico, I thought I would post a thread with some data points I've gathered on Capital One. YMMV disclosure: These are just some observations I have gathered over the course of time. They aren't 100% and with anything, your mileage may vary on any one of these points. I just thought others may be interested in reading what I have found
Like I stated, these points are based on my experiences and posts I've read from other members. I thought it may be useful/fun to post what I've gathered in a thread. If there is something I missed or you have a data point, please feel free to share!
This is def a great post!! Very useful!! I found points #2 and #6 especially useful.
I've never heard of anyone having issues PC a QS1 to a QS though. I myself only had my QS1 for under 60 days and was able to PC to a QS. I did this in April or May 2016.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
Very informative.
Too bad I can't make use of that info.
Still bitter towards Capital One since they are the only issuer to deny me.
"Too many recent inquiries," they said..
At the time I applied, I had three other inquiries (2 EQ, 1 EX).
I agree with most of the points. Cap 1 was my first cc. If you have platinum or qs1, call during the day (8-5) and you will get a rep state side. I have only gotten an overseas rep when I called after dinner.
#2. When someone is approved for credit steps, they are given a portion of a pre-approved limit to start with. $500 starting Cl usually end around $2k; $1k starting will end between $3k-$4.5k. (I started with $1k and ended with $4.5k) Most will ask for a cli after 60 days then get the balance at the end of steps but the final limit was pre-determined from the beginning. This information came directly from 2 different cap 1 reps when I asked exactly how steps and limits work. I have found it to be consistent with posts on the forum.
One other thing not mentioned, if you want to upgrade, do it right after a cli. You cannot get a cli for 6 months after a pc or upgrade.
This is a great post! Thank you!