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Does anyone really consider Cap1 a Prime Lender?

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Rackham94
Established Contributor

Re: Does anyone really consider Cap1 a Prime Lender?


@asteroidblues86 wrote:

If I knew nothing about its reputation on the forums Capital One would of had me really believing they are a Prime Lender. Instant approval online. Fast and easy account management online and with iphone app. Automatic card activation on the phone without having to talk to a person. Pretty good fraud detection department shutting my card down temporarily after two back to back $500 in store charges and notifying me immediately for verification. And finally, domestic CSR redeemed my No Hassle Miles on the telephone. Capital One has a place in my wallet. I pay no annual fee or foreign transaction fee. Plus my super shiny card is attractive. Smiley Happy


+1 I thought I was all that and a bag of chips when I got my Cap1 a couple months ago...until I got to myFico forums lol

Message 11 of 43
jsucool76
Super Contributor

Re: Does anyone really consider Cap1 a Prime Lender?

I love my cap1 card. For me they are the most prime card i have. 1.5% cash back, no annual fee, and they started me with 3k and then upped to 3.5k.
Message 12 of 43
WarJar101
Frequent Contributor

Re: Does anyone really consider Cap1 a Prime Lender?

By way of Cap One EO, they're prime to me. They gave my first big auto-cli 500 to 2.5k through the credit steps program. Potential to PC.

Rebuilding...been out of the game for a minute. Now, after suffering I'm back with greater wisdom. Scores: Currently @ around 6 teens to 20's, across all three EQ,TU, EX
Message 13 of 43
Cali_Credit
Frequent Contributor

Re: Does anyone really consider Cap1 a Prime Lender?

I'm sorry to say but Cap 1 is blah! I'd never charge anything on mines! There In the SD =)
Current Fico's: TU 797 / EQ 785 / EX 775
Wallet: US Bank Business Edge $16,000 I Chase Ink $18,500 | US Bank Cash + Visa Sig $15,000 | Amex PRG NSL | Barclay Arrival+ WMC $10,000 l Amex BCP $20,000 | PenFed Visa Sig $9,000 | DCU Plat. $10,000 | Logix $10,000 | Discover $18,900 | WalMart $10,000 | Paypal MC $15,000 | Barclay NFL $3,400 | Cap 1 Quicksilver WMC $34,500 | J C Penny $5000 | Target $2000 13 Personal & 2 Business CreditCards
Message 14 of 43
CreditScholar
Valued Contributor

Re: Does anyone really consider Cap1 a Prime Lender?

Cap1 isn't a prime lender nor is it even close. Yes it may have a couple products that are targeted at people with prime scores, but that doesn't make them a prime lender perse. The vast majority of their products and cardholders are still subprime, and a couple decent products isn't enough to change that reputation. In many ways its no different to Amex offering subprime products (Zync with a hard limit). The majority of their products are prime and thus they are seen as a prime lender. One low-end product like the Zync isn't enough to change Amex's reputation as a prime lender anymore than the Venture is going to change Cap1's overall reputation as a subprime one.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 15 of 43
VirtualCuriosity
Established Contributor

Re: Does anyone really consider Cap1 a Prime Lender?


@IECredit wrote:
I'm sorry to say but Cap 1 is blah! I'd never charge anything on mines! There In the SD =)

Me either.  Sounds dangerous.Smiley Tongue


TU713, EQ 731 , EX 726 (As of 12/13/14) - Personal Goal = 760

“Beware of little expenses. A small leak will sink a great ship” – Benjamin Franklin

Gardening since 3-26-15































Message 16 of 43
bs6054
Valued Contributor

Re: Does anyone really consider Cap1 a Prime Lender?

While (at least for many) Cap One isn't "prime", not sure "subprime" applies.   In the mortgage crisis, subprime mortgages were those where people were approved/enticed to borrow much more than they could afford to pay back.   Not sure anyone here accuses Cap One of flooding them with way too generous credit lines!

 

Message 17 of 43
Gunnar419
Valued Contributor

Re: Does anyone really consider Cap1 a Prime Lender?


@Rackham94 wrote:

@asteroidblues86 wrote:

If I knew nothing about its reputation on the forums Capital One would of had me really believing they are a Prime Lender. Instant approval online. Fast and easy account management online and with iphone app. Automatic card activation on the phone without having to talk to a person. Pretty good fraud detection department shutting my card down temporarily after two back to back $500 in store charges and notifying me immediately for verification. And finally, domestic CSR redeemed my No Hassle Miles on the telephone. Capital One has a place in my wallet. I pay no annual fee or foreign transaction fee. Plus my super shiny card is attractive. Smiley Happy


+1 I thought I was all that and a bag of chips when I got my Cap1 a couple months ago...until I got to myFico forums lol


+100. I got my Cap One VentureOne just before I joined these forums. I was planning a trip. I didn't know anything about CapOne's reputation as a subprime lender. I made a list of all the pros and cons of five cards including CSP and for my needs (which include NO AF), the VentureOne jumped off the list as the best card of all. Nobody else even close.

 

Then I applied and got instantly approved and they not only gave me a Visa siggy but my first right out of the box $10k limit. I felt great, partly because their requirements for the card are high. Then I came here and saw everybody looking down their noses.

 

Message 18 of 43
LS2982
Mega Contributor

Re: Does anyone really consider Cap1 a Prime Lender?

IMO Cap1 is borderline prime. They at least try to be prime. Unfortunately their subprime policies over the past decade hold them down tremendously.



EQ FICO 548 3/3/16
Message 19 of 43
sarkell
Frequent Contributor

Re: Does anyone really consider Cap1 a Prime Lender?

I like cap1 they gave me a chance and have me a pretty good limit 3k. I'm going to keep one of my 3 when conversion from orchard is complete. Just need to get one to 5k limit via executive office hopefully in the fall by then my 5k limit from csp will be reporting. The rewards are easy and post instantly. I've had the card 8 years. My point is I will keep one of them.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


Take the myFICO Fitness Challenge
Message 20 of 43
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