10-05-2012 10:08 AM
In my sig, you will see that I have 2 Capital One cards. Both are 5 years old. Also, both have a perfect record. I decided to go down the executive office route as many have recently. They finally called me back last night with a generic denial stating that they are a conservative lender and aren't issuing CLIs right now.
I made it clear to them that I have been a 5 year customer with a clean record and that these accounts will be closed kright before the AF hits. I also made it clear that all my transactions are now being routed to my my Discover and Amex cards and my two CapOne cards will never be swiped again.
I cannot believe that the executive office would give me the same response as a low level rep.
I thought we were seeing changes but I guess not, welcome back to the normal Capital One.
10-05-2012 10:11 AM
A "conservative" lender that offers extremely lax credit qualification to sub-prime borrowers as a business model? Thats entertaining.
10-05-2012 10:19 AM
You got decent cards...close them out...your history will be there no matter what for at least 10 years.
I closed my AF card via executive office and the lady was nice and asked me why and I told her that since executive office denied me CLI that I can see that the card won't grow at all and it's time to close..while they are reviewing their policies on CLI and not granting any right now, I'm reviewing my policies on what cards to keep and I can't keep them at this time...maybe in the future.
I kept the No AF card that they bumped from $500 to $2000 but they would not PC for rewards at all. I told her while I thank her for CLI and will keep the card I won't be using it all. I asked her if they close cards for no activity and she said no. She then asked me why I won't be using it. I told her that right now I have few cards that give me rewards so by using Capital One I'm actually losing money. Nothing personal, but I will keep them for utilization purposes and it seems that they don't want me to use the card at all. I told her that her company makes foolish decisions and policies. I closed the No Hassle card even though I did not mind paying AF on it as it was giving me decent rewards but they would not increase the limit...they did however increase limit on no rewards no AF card....i told her the card will be in a drawer and since I won't be using it at all Capital One will make no money since there won't be AF, no Interest and no swipe fees...basically I'll keep them for my own personal utilization and credit purposes..thanked her for her time and hung up....the card is still open...LOL
Capital One is so dumb...she told me that I can apply for another card and I told her with 3 Hard Pulls and no guarantee I get a decent limit it's just not worth it. She told me they are a conservative lender and want to check everything and make sure to start small. I said that is great...but in this competitive world of many credit card companies I'm also like to be conservative...especially with my inquiries..
Close it!!! working in and managing call centers I know for sure that when someone is closing the card and rep asks why and reason is NO CLI they do select that choice in their system and at the end of month someone runs these reports and presents them to VPs and SVPs and say this is how many customers we lost this month, or this quarter because of NO CLI...imagine their shock if all people who are pissed with CAP1 would close their cards at the end of 4th quarter before earnings...ouch!
10-05-2012 10:52 AM
Taken from another post that got lost in the many other threads was my suggestion for Cap1:
At what point is CRAP1 going to just simply say, "We do not and never will give a credit line increase. You get what you got when we approved the card" I mean really, there are hundreds if not thousands of posts about how people have been denied for CLI's yet only a handful of people that we successful. It would save everyone a headache and trouble if they just change their policy rather than continually give their customers (((YOU KNOW.... THE ONES THAT ARE KEEPING YOU IN BUSINESS))) the usual ambiguous answer you have all heard so many times. Jumping through loop holes, calling this exec assistant, getting the janitor's phone number who is cool with the assistant who knows Mary who is the CEO's personal assistiant is really crazy. Why give the option to ask for a CLI if 99.9% of the time you are going to deny it. I mean, maybe people like the challenge but I couldn't be bothered.
I have really considered applying for a CRAP1 card simply for the no FTF when I travel abroad. I know I would be approved. But, hearing about this company makes me want to rather pay the FTF than not.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.