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Regular Contributor
CotySinz
Posts: 237
Registered: ‎06-27-2011
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Re: Capital Ones Last Chance

Yeah, Cap One is a terrible company unless you are starting out or rebuilding other than that they are trash - how many people really carry a Venture as their miles card? Not many cause there are plenty of better choices that will grow.

 

No change to account as of today - still meager $750 limit.


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Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
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Re: Capital Ones Last Chance

Goodluck! Hopefully cap1 will give you a decent CLI.



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bluesnowman
Posts: 464
Registered: ‎10-29-2012
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Re: Capital Ones Last Chance

When I first was starting out, many people were saying to start with Capone, and I read about them and decided to not apply for anything with them. I'm thankful still that I have no capitalone cards. 

Bank of America: Cash Rewards.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.
Established Member
bs1234
Posts: 23
Registered: ‎11-14-2012
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Re: Capital Ones Last Chance


bluesnowman wrote:

When I first was starting out, many people were saying to start with Capone, and I read about them and decided to not apply for anything with them. I'm thankful still that I have no capitalone cards. 


 

I am amused by the title of this thread.  The CEO must be quaking in his boots "We might lose someone with currently has a $750 CL"   Yes, it's important to you, but no, you are not important to them.  It's possible that later on in life you will be enormously rich and they will regret that they don't have your business, but it's not SO likely that they will put extra effort into retention.

 

People tend to overestimate their importance to a company.  I worked at a big telco, servicing the biggest customers, the segment mainly consisted of government agencies and Fortune 100 companies, but a few others were included for historic reasons.  I remember most been giving a hard time by one of these others, someone who paid $40K a month, and he was demanding everything or he would cancel.  Just before talking to him, I was dealing with another account who paid $12M a month.  I understood his pain, the 40K was a big portion of his telecomm budget, but it was hard not to think "If you cancelled all your lines, we really wouldn't notice".     Same with Capital One and all or nearly all users (including me).

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bluesnowman
Posts: 464
Registered: ‎10-29-2012
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Re: Capital Ones Last Chance

Well, I googled them. All i got were complaint after complaint about them. Never bothered to apply for a card through them. And I don't know if any of creditors would notice If I ever canceled their cards. I'm definitely not much of a source of income for them I'd say :smileytongue:. I havent really heard anything good about Cap One, so I didnt want to apply...unless my credit went south. 

Bank of America: Cash Rewards.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.
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sphinx313
Posts: 567
Registered: ‎02-12-2011
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Re: Capital Ones Last Chance

Capital One will not be in my wallet once my rebuild is complete. I appreciate them as a rebuilder company but not as a prime lender. They shouldn't be treated as such either.



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AF_23
Posts: 288
Registered: ‎02-06-2012
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Re: Capital Ones Last Chance

[ Edited ]

bluesnowman wrote:

When I first was starting out, many people were saying to start with Capone, and I read about them and decided to not apply for anything with them. I'm thankful still that I have no capitalone cards. 


Capital One was the best starter card out there years ago and maybe still is. No dumb start up fees of any kid and Ive never had an issue with them otherwise. Obviously passing the ranks in the credit world means nothing to them as the years have gone bye, so saying goodbye just becomes the logical thing to do once you've got prime card(s) so to speak. 

Established Member
bs1234
Posts: 23
Registered: ‎11-14-2012
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Re: Capital Ones Last Chance


sphinx313 wrote:

Capital One will not be in my wallet once my rebuild is complete. I appreciate them as a rebuilder company but not as a prime lender. They shouldn't be treated as such either.


I don't know, they have some cards that can be considered prime (Cash Rewards and Venture for example, and possibly Journey for students)  My two cards with Cap One have 15K and 30K CLs, and I have never had issues with them.  Still think they get a bad rap!   They are not the best card out there, but we have no agreement as to what is!

Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
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Re: Capital Ones Last Chance

True. It's just when I think about my credit future, I don't see Capital One in it. I see Chase/Amex/etc. More importantly Chase. My buddy's entire life is in Chase's hands. He has 2 mortgages, $45k in revolvers and checking/savings accounts. That's the kind of credit relationship I'm looking to build, not really who will give me the biggest line. When I think of Prime, I think of lenders that wouldn't give anything to me at all in my current position, even if it was their card with my own money. Some Prime lenders have "programs", but these "programs" make them more money then not. For Capital One to drop out of the sub-prime market would be like the government banning cigarettes and losing the tax. Just can't be done right now.



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bluesnowman
Posts: 464
Registered: ‎10-29-2012
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Re: Capital Ones Last Chance

I agree.I have been fortunate to get some very good prime cards with a rather small income and short history. So it depends what your needs are and what your credit profile looks like. 

Bank of America: Cash Rewards.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.

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