Captial One....Had to see for myself

[cottontop]

You all weren't kidding.  About 3wks ago applied for my DW a Cap one cash rewards card.  Cash rewards on the card looked good and simple.  Her stats were in the very upper 600's to 720 on all bureaus, 20 year history, high AAOA, thick file.    She has a $7000 Freedom Card and a $4000 US Air Card.  Anyway, not an instant decision.  They called in a couple days to verify identity, but supplied no info on the app.  Well got the card last week, you guessed it, $1,000!  

Tonight I opened a chat with them on the activation site, and said she wished to decline based on the insufficient credit line.  The CSR checked and went through long spill about a credit steps program, and after 5 months of charging and one time payments, she could get an additional $500. 

Told him to close the account as it would basically be a PITA as there are much better companies that she already has cards with that are glad to have her business.

That being said, I realize they serve a purpose as a rebuilder creditor, but quit masquerading as a prime lender.

[Dustink]

Maybe she applied for the wrong crap 1 card. The visa signature no AF card I have isn't too bad. Just email EO.

[dddewdrop]

    Hi. All the information available on this site should have provided you guidance that Capital One is an excellent company to rebuild credit with but not a great company to obtain a hi Credit Limit when you already have high limits. I don't understand why this is a big surprise to you. That is just the way they operate. If you wanted a big credit limit, better to try a company which is know to operate that way. I think you are wasting your energy getting upset at a company which is just treating you the same way they treat everyone else and who already has a reputation for giving smaller credit limits. I really don't understand where your indignation comes from here. What is that signature line that one guy had? :"every card has its purpose". That is the case with this card. It does an awesome job of doing its purpose which in my mind is to provide a credit card with no annual fee for people whose scores are too low to qualify for much else....  If you keep reading on this site you can locate some cards that may suit your need better. May I suggest a credit union card? They are known for giving higher limits. There are several good ones.. Good luck.

[cottontop]

In hindsight, I agree, but $1000 on a card marketed as prime... I wouldn't have given $2-2500 a second thought because of what I read on the board.   But as the title said had to see myself, I was raised in Missouri, you gotta Show Me.  In hindsight, very stupid app.  Three hardpulls for an expected low CL.  Not Indignation, just a bit irked by false advertisement as a prime.  Now it will show on report, hurt AAOA, althougth she has 30+ accts open and closed reporting, so effect should be minimal

[dddewdrop]

    Well at least she got approved and it has no annual fee so it will help her credit to have this card and just keep it open. It certainly won't hurt her. I'm sorry you didnt get a higher limit.

[myjourney]

Closing out I wouldn't have done since you took the HP for it .

I would have followed the success members have had throughout this forum and emailed the EO in hopes of getting a possible solution through someone who had the authority to make and override decisions. Possibly in my favor

[09Lexie]

+1

[cottontop]

Well, closing might have been a bit of a knee jerk reaction.  It would have been a SD card for sure.  But over the past few weeks, we've been evaluating the cards we have and had reached the conclusion that it wouldn't see much use anyway.  It'll still report 10 years, help AAOA eventually, and be a positive line.  Trying to get her average open revolving lines over $5K as that seems to help with a slight score bump, it did mine.  

[myjourney]

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@cottontop wrote:

Well, closing might have been a bit of a knee jerk reaction.  It would have been a SD card for sure.  But over the past few weeks, we've been evaluating the cards we have and had reached the conclusion that it wouldn't see much use anyway.  It'll still report 10 years, help AAOA eventually, and be a positive line.  Trying to get her average open revolving lines over $5K as that seems to help with a slight score bump, it did mine.  

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IMO and please don't take offense but a recent member took the EO route and came away with $12000 YMMV but since she had other high limit card perhaps they would have matched them to get your business. They're adding rewards programs, doing PC's, removing AF's and crediting back some AF as well....

I just think it was a waste of 3 HP's before all avenues were exhausted 

I also have seen them open old accounts so there still maybe hope in your case if you feel you wish to try.

Best wishes 

[cottontop]

No offense taken, appreciate the input.  I just didn't have the drive to go the EO route.