Capital One business practices

[longtimelurker]

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@fargobzn wrote:

Cap1 sent me the oddest denial when I hit the CLI button online a few weeks ago, they said my account wasn't eligable because they were evaluating account activity at assigned credit limits. Not sure what to make of that. 

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That sounds like they are evaluating whether a CLI is justified based on usage of the current CL.  Some banks seem more cautious than others here, no need for them to increase their risk with a bigger CL if they don't expect increased fees from more usage.

[longtimelurker]

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@lajntx wrote:

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@sillykitty1 wrote:

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I think that is just the way the CSR's or online CLI button works.  I got denied online for insufficinet use, but then got a huge increase from EO.  EO is completely different, it's an underwriter making the decision, not a computer that's only programmed to give out tiny increases.  Why the reluctancy on contacting EO and being frustrated by small increases?

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That`s the way it works - for now. What are you going to do when/if at somepoint in the future Capital One decides that their credit card portfolios arent creating " enough value" , close the EO,  and subsequently cuts your line down say to 3,000 because your highest maintained balance over 90 days was only 1800?

And there is nothing you can do about it

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That's when you go to a new issuer.   But as it IS working now, for some anyway, no pressing need to move.   Any bank you go to can start instigating new policies that impact you negatively.

[lg8302ch]

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@toi34 wrote:

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@fot1 wrote:

For me I look at Cap One as a stepping stone company... They get you from sub pirme lendercards to the  a spot you can now get Prime lender cards.. If you can picture the medieval river  boats.. They pic you up on the banks of Credit one/ first premiere and drop you at the shores of Amex/Chase/Discover..

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Great analogy! It made me smile.  

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hmm... looks to me it all depends on which stage you get in with them

[fot1]

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@lg8302ch wrote:

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@toi34 wrote:

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@fot1 wrote:

For me I look at Cap One as a stepping stone company... They get you from sub pirme lendercards to the  a spot you can now get Prime lender cards.. If you can picture the medieval river  boats.. They pic you up on the banks of Credit one/ first premiere and drop you at the shores of Amex/Chase/Discover..

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Great analogy! It made me smile.  

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hmm... looks to me it all depends on which stage you get in with them

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Maybe,, maybe not... Think the high credit limits are given out with Cap one via slot machine.. Every once in awhile pulling the handle gives out a winner..

[sillykitty1]

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@lajntx wrote:

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@sillykitty1 wrote:

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I think that is just the way the CSR's or online CLI button works.  I got denied online for insufficinet use, but then got a huge increase from EO.  EO is completely different, it's an underwriter making the decision, not a computer that's only programmed to give out tiny increases.  Why the reluctancy on contacting EO and being frustrated by small increases?

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That`s the way it works - for now. What are you going to do when/if at somepoint in the future Capital One decides that their credit card portfolios arent creating " enough value" , close the EO,  and subsequently cuts your line down say to 3,000 because your highest maintained balance over 90 days was only 1800?

And there is nothing you can do about it

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There is nothing I can do if ANY lender decides to change thier practices.  That's why I have a diverse profile and have more credit than I "need".  

[ztnjpv]

Dw4250,

good story about your dad. Yes. Typical, classic STUPID from Capital One. Tone deaf and stubborn to a fault. I have a long sorted, bloody and bruised history with them. I saw dealt with them at their worst. I hated them. Now that my credit is good, I still strongly dislike them because of what they do to in terms of not holding improving/improved/golden customers in high regard. 

I have said in the past (to a CSR on the business line, which is TOP NOTCH) that Capital One needs to leave its stubborness and obnoxiousness on the subprime side of things and be better (MUCH better) on the other end of the spectrum. A clean break. I jokingly (well semi-jokingly) told the CSR that Capital One should develop a different brand for prime customers...ala Lexus from Toyota or Acura from Honda etc. This brand could treat good customers in a way that wins/retains business that moves on to Chase/Amex instead of treating everyone like credit newbie.

[azguy13]

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@ztnjpv wrote:

Dw4250,

good story about your dad. Yes. Typical, classic STUPID from Capital One. Tone deaf and stubborn to a fault. I have a long sorted, bloody and bruised history with them. I saw dealt with them at their worst. I hated them. Now that my credit is good, I still strongly dislike them because of what they do to in terms of not holding improving/improved/golden customers in high regard. 

I have said in the past (to a CSR on the business line, which is TOP NOTCH) that Capital One needs to leave its stubborness and obnoxiousness on the subprime side of things and be better (MUCH better) on the other end of the spectrum. A clean break. I jokingly (well semi-jokingly) told the CSR that Capital One should develop a different brand for prime customers...ala Lexus from Toyota or Acura from Honda etc. This brand could treat good customers in a way that wins/retains business that moves on to Chase/Amex instead of treating everyone like credit newbie.

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I love this idea. 

[juggalo9er]

the idea of this thread is interesting but my exp with capone has been relatively positive. I started out ok bk with a 300 secured card...had it for 5 months and applied for plat with af. i was approved with a 500 limit which was raised to 750 5 months later. three months later i contacted the eo and it was raised to 2000 and pcd to quicksilver with no af. i am by no means saying 2000 is a nice limit but i appreciate it considering what i have read about capone.

[fot1]

So I was bored and went on facebook...  Did the little EO thing I hear so much about.. Man.. I am so glad Amex, barclays, Chase, Discover and the likes don't run this way...

[sillykitty1]

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@fot1 wrote:

So I was bored and went on facebook...  Did the little EO thing I hear so much about.. Man.. I am so glad Amex, barclays, Chase, Discover and the likes don't run this way...

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So taking a HP for a customer initiated CLI is better .. like with Barclays and Chase?