Capital One Succes Story

[Anonymous]

i just wanted to share the success story from cap1 that i just recently had. maybe give some hope to other people like me haha.

i applied for the new playstation card from cap1 a few weeks ago because it had no annual fee and the rewards were pretty decent for my spending habits and the things i want to get back. i immedietly got denied online and was somewhat disappointed so i called and asked for the reasoning and the guy on the phone said they would just send me a letter in the mail. a couple days later they say i have too many cap 1 cards(i have 1), and my scores are too low(non existent really only 4 months of history), and stuff like that. so i accept my defeat haha. then a couple days after a get a couple calls from a number i missed. i call them back and its a person saying they want to review my application again so i obviously say yes haha. a week later i get an email saying they just sent out my card. so i am happy haha. and it gets better.

so hes my history so far

cap 1-$300 limit since july

amazon store card-$400 limit since sept

BoA secured-$1500 limit since oct

i do have perfect payment history, i always PIF on time, i carry low balances on some cards, but thats about it. i also have a bank account with a decent amount of money and i have a part time job, but im not sure if cap1 would look at that.

so i get the card in the mail a couple days ago, and im expecting a limit of around $500 and id be happy with anything about $750. i open it and they gave me a $2000 limit. needless to say i was surprised and excited haha. now im excited for the future because ill be able to close the $300 one with a 39 annual fee before i have to pay again, and then when the BoA goes unsecured ill hopefully get a CLI and then PC to a cash rewards card. definitely excited about my credit future haha. gotta thank these forums for all the advice ive picked up for helping me get some decent cards pretty quicky.

TLDR cap1 gives me a "big" limit after barely any history and being initially denied

[Anonymous]

Excellent, Congratulations.

Too bad Crap1 won't do anything nice for their cardholders who have been with them over a year and their FICO's have gone up over 200 points in that time.

I'm calling Crap1 today to close possibly both accounts I have with them.

I am truly happy for you, Congrats again.

[Anonymous]

yea sorry to heard that. 

cap1 is very confusing to deal with. some people with 700+ scores and no problems have $500 CLs for years, and sometimes cap1 gives stuff like this to people like me. they need to be more consistent one way or the other haha.

im sure cap1 gave you a good start though and with your improved score you can get some better cards now.

[Anonymous]

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@Anonymous wrote:

yea sorry to heard that. 

cap1 is very confusing to deal with. some people with 700+ scores and no problems have $500 CLs for years, and sometimes cap1 gives stuff like this to people like me. they need to be more consistent one way or the other haha.

im sure cap1 gave you a good start though and with your improved score you can get some better cards now.

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Cap1 did help me when I was rebuilding, yes, but they offer no incentives for me to stick with them.

This time last year I had four CC's with a total of 2150 total revolving credit, I now have 12 CC's with just over 50K total revolving credit and 1% util.