I don't honestly think that it's as much a matter of Crap1 haters as it is complete frustration of the cardholders experience with them. Lucky for some i suppose like me that they dropped a Preapproval for the dismal GM World Elite Card at the very end of a string of Preapprovals by High Quality Lenders such as Citi, Discover, etc. Had no idea this lender would prove to turn out such a hassle to have to deal with (EO) etc. and the SL was almost laughable at the time considering other cards at SL of 5K and beyond, Low UTIL., High FICO etc.. It's my guess they just needed to meet some New Customer Quota on this one and tossed anything else for it aside. That became very clear after FB them, receiving their call, then learning the denial which wasted a perfectly good HP while having 2 preapprovals elsewhere sitting around. Bahh! This is after running multiple useage almost up to, but not past the puny limit and then having to PIF then rinse n repeat. 
Chalked it up to a learning lesson on the negativity of Crap1 that so many have already posted numerous times about. Don't hate them, but won't ever become a CC customer with them again either. Just a waste and annoyance IMO.
Well, I'm not a CapOne fanboy but CapOne increased their profit by approx. $1,000,000,000 last year. Now whether that was by their lending policies or some accounting trickery that big companies sometime do, I don't know. But whatever they are doing is working for them.
My little CapOne credit limit card isn't the first card I pull out of my wallet either but at this point I have seen how they operate and I personally wouldn't attempt for another card in the near future because I have sseen the stories about them online. The funny thing is, I'm sure Capital One has bee this way for years yet people on this site still give them a chance, then still complain, even after they've been warned!!!
Why is it that people convince themselves that they are sooooo special that the rules don't apply to them? That there is something so great about them that they will beat the odds? It's like Vegas - you hear of the stories when people make a couple of bucks but they keep the stories to themselves when they lose their shirt. As I was once told by a resident of Vegas, "They don't build those billion dollar casinos because they like giving money away." The odds are the odds and over time they apply to everyone.
Most people who apply probably don't even realize Capital One's definition of "excellent credit"... So hear it is:
@keithB wrote:Well, I'm not a CapOne fanboy but CapOne increased their profit by approx. $1,000,000,000 last year. Now whether that was by their lending policies or some accounting trickery that big companies sometime do, I don't know. But whatever they are doing is working for them.
My little CapOne credit limit card isn't the first card I pull out of my wallet either but at this point I have seen how they operate and I personally wouldn't attempt for another card in the near future because I have sseen the stories about them online. The funny thing is, I'm sure Capital One has bee this way for years yet people on this site still give them a chance, then still complain, even after they've been warned!!!
Why is it that people convince themselves that they are sooooo special that the rules don't apply to them? That there is something so great about them that they will beat the odds? It's like Vegas - you hear of the stories when people make a couple of bucks but they keep the stories to themselves when they lose their shirt. As I was once told by a resident of Vegas, "They don't build those billion dollar casinos because they like giving money away." The odds are the odds and over time they apply to everyone.
Most people who apply probably don't even realize Capital One's definition of "excellent credit"... So hear it is:
"You may meet these criteria and still be declined"
That particular stipulation applies to every lender indeed but is also not completely written in stone for some for whatever reason. Example: Crap1 preapproval follows Citi with BOTH about the same CL. Citi was $200 better but no matter, an expectation is to useage both, PIF etc. try for a CLI in 6 months. In my case i requested a CLI with Citi at 3 Months Only! following 4, yes 4 denials via Luv button. Being persistant i contacted Citi EO for recon citing good history but admitting 3 months is probably too early? 2 days later Citi EO calls back with an Approval X3? 
Now for some of us that's exactly how to encourage new customer loyalty (given your other stats support it). Needless to say after that Citi quickly became chief recipient of plenty of this customer 's business and is to this day.
That said, with the profits mentioned above by Crap 1 perhaps they've already set aside where to apply encouragements and some of us just don't fall into their accounting numbers for consideration which if you're other CC's are growing with you and theirs is not, can't help but to turn your buisness & loyalties elsewhere where you don't have to go thru their circus hoops. Point is Crap1 apparently has their business model suiting them just fine but other lenders are more then ready to pick up customers turned off by them.
@CreditMagic7 wrote:
@keithB wrote:Well, I'm not a CapOne fanboy but CapOne increased their profit by approx. $1,000,000,000 last year. Now whether that was by their lending policies or some accounting trickery that big companies sometime do, I don't know. But whatever they are doing is working for them.
My little CapOne credit limit card isn't the first card I pull out of my wallet either but at this point I have seen how they operate and I personally wouldn't attempt for another card in the near future because I have sseen the stories about them online. The funny thing is, I'm sure Capital One has bee this way for years yet people on this site still give them a chance, then still complain, even after they've been warned!!!
Why is it that people convince themselves that they are sooooo special that the rules don't apply to them? That there is something so great about them that they will beat the odds? It's like Vegas - you hear of the stories when people make a couple of bucks but they keep the stories to themselves when they lose their shirt. As I was once told by a resident of Vegas, "They don't build those billion dollar casinos because they like giving money away." The odds are the odds and over time they apply to everyone.
Most people who apply probably don't even realize Capital One's definition of "excellent credit"... So hear it is:
"You may meet these criteria and still be declined"
That particular stipulation applies to every lender indeed but is also not completely written in stone for some for whatever reason. Example: Crap1 preapproval follows Citi with BOTH about the same CL. Citi was $200 better but no matter, an expectation is to useage both, PIF etc. try for a CLI in 6 months. In my case i requested a CLI with Citi at 3 Months Only! following 4, yes 4 denials via Luv button. Being persistant i contacted Citi EO for recon citing good history but admitting 3 months is probably too early? 2 days later Citi EO calls back with an Approval X3?
That said, with the profits mentioned above by Crap 1 perhaps they've already set aside where to apply encouragements and some of us just don't fall into their accounting numbers for consideration which if you're other CC's are growing with you and theirs is not, can't help but to turn your buisness & loyalties elsewhere where you don't have to go thru their circus hoops. Point is Crap1 apparently has their business model suiting them just fine but other lenders are more then ready to pick up customers turned off by them.
Exactly... ***edited*** Move on and do your own thing. Thank you for making my point.
@keithB wrote:
@CreditMagic7 wrote:
@keithB wrote:Well, I'm not a CapOne fanboy but CapOne increased their profit by approx. $1,000,000,000 last year. Now whether that was by their lending policies or some accounting trickery that big companies sometime do, I don't know. But whatever they are doing is working for them.
My little CapOne credit limit card isn't the first card I pull out of my wallet either but at this point I have seen how they operate and I personally wouldn't attempt for another card in the near future because I have sseen the stories about them online. The funny thing is, I'm sure Capital One has bee this way for years yet people on this site still give them a chance, then still complain, even after they've been warned!!!
Why is it that people convince themselves that they are sooooo special that the rules don't apply to them? That there is something so great about them that they will beat the odds? It's like Vegas - you hear of the stories when people make a couple of bucks but they keep the stories to themselves when they lose their shirt. As I was once told by a resident of Vegas, "They don't build those billion dollar casinos because they like giving money away." The odds are the odds and over time they apply to everyone.
Most people who apply probably don't even realize Capital One's definition of "excellent credit"... So hear it is:
"You may meet these criteria and still be declined"
That particular stipulation applies to every lender indeed but is also not completely written in stone for some for whatever reason. Example: Crap1 preapproval follows Citi with BOTH about the same CL. Citi was $200 better but no matter, an expectation is to useage both, PIF etc. try for a CLI in 6 months. In my case i requested a CLI with Citi at 3 Months Only! following 4, yes 4 denials via Luv button. Being persistant i contacted Citi EO for recon citing good history but admitting 3 months is probably too early? 2 days later Citi EO calls back with an Approval X3?
That said, with the profits mentioned above by Crap 1 perhaps they've already set aside where to apply encouragements and some of us just don't fall into their accounting numbers for consideration which if you're other CC's are growing with you and theirs is not, can't help but to turn your buisness & loyalties elsewhere where you don't have to go thru their circus hoops. Point is Crap1 apparently has their business model suiting them just fine but other lenders are more then ready to pick up customers turned off by them.
Exactly... So why cry about it? Move on and do your own thing. Thank you for making my point.
Who's crying? It serves this forum productively to bring attention to their own experiences be it good, or frustrating so others can make their own determinations whether to RISK wasting their time & energy on certains CC's/Lenders when they would have better choices with lenders who are not afraid to grow with you.
So you can MOVE ON and do your own thing too wise guy 