Reply
Established Contributor
MojaveMoon
Posts: 536
Registered: ‎08-26-2008
0

Re: Myth about Capital One Credit Lines

[ Edited ]

txjohn wrote:

QUESTION:  Can you 'change products' with Capital One?  Maybe we should stop asking for CLI and start asking for product change?  Anyone have any info on if possible with Cap One?



My personal experience with my Capital One card that is one of the sub-prime-ish cards is that I've been told from the lowest levels up to the highest levels that I will never be able to convert this card.

But I don't know if the rules about conversion are different for the non sub-prime cards.
Message Edited by MojaveMoon on 03-29-2009 05:42 PM
New Contributor
jjmcc323
Posts: 57
Registered: ‎12-17-2008
0

Re: Myth about Capital One Credit Lines

have one cap one card with 12k limit they sent me offer for second card i got it limit was 500.00 i called they

said could not raise it, i charged 450.00 about 7 times and pif each time called again and was turned down 

again for cli tu score is 775 most cl on other cc is over 20k , cannot understand why cap one will not give

cli on second card.

Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Myth about Capital One Credit Lines


txjohn wrote:

If you have been less than happy with your Capital One experience, maybe this information could help.

 

Here is a link where you can compare ALL Cap One cards.  Look to see where you are:

 

http://www.capitalone.com/creditcards/products/compare/?linkid=WWW_0608_CARD_TGUNS05_CCPMP_C2_02_T_C...


Have you noticed how most of the cards are listed in every category with the same exact limits and only difference is "SOMETIMES" the APR and nothing else. This is nothing more than a scheme to make it appear they have a wide range of product when out of the 30 cards, there is maybe, and maybe 5-10 distinct cards. Plus a company should not be treating their customers based on which pigeonhole they decide to stick you in. The fact is that everyone calls the same number and I know people with "good" cards from Capital One who get the same crappy service as the ones who are in the "poor" card category. Anyway, maybe I am just too jaded because of my experience with them, so many people can't be wrong, but then again who knows.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Myth about Capital One Credit Lines


jjmcc323 wrote:

have one cap one card with 12k limit they sent me offer for second card i got it limit was 500.00 i called they

said could not raise it, i charged 450.00 about 7 times and pif each time called again and was turned down 

again for cli tu score is 775 most cl on other cc is over 20k , cannot understand why cap one will not give

cli on second card.


There is no rhyme or reason really. I mean they gave me a card with $500 and I had EXCELLENT credit and wouldn't raise it in like 2 years and I just dumped them, frankly I didn't need them and it was stupid to even bother. But my wife, with one of the worst credit profiles I have ever seen applied with them and got a $4000 credit line with them, so they are full of it and I wouldn't trust them if they told me it was dark outside at night.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Established Contributor
MojaveMoon
Posts: 536
Registered: ‎08-26-2008
0

Re: Myth about Capital One Credit Lines

[ Edited ]

jjmcc323 wrote:

have one cap one card with 12k limit they sent me offer for second card i got it limit was 500.00 i called they



I'm glad you posted this experience. This is the first time I've heard a Capital One experience like that. But I'm also not the least bit shocked that Capital One did this.

On another discussion site I was reading customer experiences with the Capital One high yield savings account. Even for that product the customer service sounds as bad as the Capital One credit card service.
Message Edited by MojaveMoon on 03-29-2009 10:49 PM
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Myth about Capital One Credit Lines

[ Edited ]

I'm curious if you know specifically which "card type" by name you applied for.  I mean they are all called Capital One Platinum, etc. 

 

One thing I have gathered is that it appears:

 

1.  If you get an instant notice of the limit, you applied for a crap card.  All high end cards notify you 7-10 days later with the card and there is no way to find out otherwise.

2.  If you happen to app for a crap card, regardless of credit, you get a crap card, crap limit and crap cli.

3.  There does not appear to be a way to upgrade or change products with Cap One, other than combine CL's of one card into another.  But a crap card never gets bumped to a good card type.

 

Anyway, I am suspecting that it is important to know for sure what application or offer you are applying/responding to, cause if you app the wrong one.......crap.

 

I'm not defending Capitol One in any way, I am just attempting to see if there is any way to find a rhyme or reason or some method to their madness. 

 

I'll let you know what happens on my current app.  Approved but don't know the CL yet.  I called in after a week and could only find out that I will have my card and welcome kit by April 6 and it will contain the CL.

 

If they only give me a $500 CL, I won't activate the card and will cancel.  I will also test my theory that a card not accepted and activated is an account that should not be reported to CR and if they do I will challenge it.

Message Edited by txjohn on 03-30-2009 03:41 AM

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Senior Contributor
score_building
Posts: 3,552
Registered: ‎01-10-2008
0

Re: Myth about Capital One Credit Lines

[ Edited ]

txjohn wrote:

I'm curious if you know specifically which "card type" by name you applied for.  I mean they are all called Capital One Platinum, etc. 

 

One thing I have gathered is that it appears:

 

1.  If you get an instant notice of the limit, you applied for a crap card.  All high end cards notify you 7-10 days later with the card and there is no way to find out otherwise.

2.  If you happen to app for a crap card, regardless of credit, you get a crap card, crap limit and crap cli.

3.  There does not appear to be a way to upgrade or change products with Cap One, other than combine CL's of one card into another.  But a crap card never gets bumped to a good card type.

 

Anyway, I am suspecting that it is important to know for sure what application or offer you are applying/responding to, cause if you app the wrong one.......crap.

 

I'm not defending Capitol One in any way, I am just attempting to see if there is any way to find a rhyme or reason or some method to their madness. 

 

I'll let you know what happens on my current app.  Approved but don't know the CL yet.  I called in after a week and could only find out that I will have my card and welcome kit by April 6 and it will contain the CL.

 

If they only give me a $500 CL, I won't activate the card and will cancel.  I will also test my theory that a card not accepted and activated is an account that should not be reported to CR and if they do I will challenge it.

Message Edited by txjohn on 03-30-2009 03:41 AM

there have been other threads on this topic.  for some reason my macy's card did not report until i activated and used it for the first time months after apping it.  in general, however, this is a test with a pretty much foredrawn conclusion:  it will in all likelihood report and ding your avg age regardless of 'activation' and the additional ding from 3 hard inqs will have been a wasted effort if you don't use the card. in any case, with your profile i'd bet you are likely to be granted 5 -15k or more but i guess cap1 can be rather unpredictable.  GL!

 

Message Edited by score_building on 03-30-2009 06:52 AM
FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Myth about Capital One Credit Lines

As a general rule of what happens, I understand.

 

However, in my 500's to 800's ascent, I have found that when I cannot get what I need, that often a letter and follow up calls directly from an attorney goes to a different dept. with different authority and things out of the norm or not possible suddenly become possible :smileyhappy:

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Myth about Capital One Credit Lines


txjohn wrote:

I'm curious if you know specifically which "card type" by name you applied for.  I mean they are all called Capital One Platinum, etc. 

 

One thing I have gathered is that it appears:

 

1.  If you get an instant notice of the limit, you applied for a crap card.  All high end cards notify you 7-10 days later with the card and there is no way to find out otherwise.

2.  If you happen to app for a crap card, regardless of credit, you get a crap card, crap limit and crap cli.

3.  There does not appear to be a way to upgrade or change products with Cap One, other than combine CL's of one card into another.  But a crap card never gets bumped to a good card type.

 

Anyway, I am suspecting that it is important to know for sure what application or offer you are applying/responding to, cause if you app the wrong one.......crap.

 

I'm not defending Capitol One in any way, I am just attempting to see if there is any way to find a rhyme or reason or some method to their madness. 

 

I'll let you know what happens on my current app.  Approved but don't know the CL yet.  I called in after a week and could only find out that I will have my card and welcome kit by April 6 and it will contain the CL.

 

If they only give me a $500 CL, I won't activate the card and will cancel.  I will also test my theory that a card not accepted and activated is an account that should not be reported to CR and if they do I will challenge it.


That may very well be, but I KNOW I did not apply for crap card, it was the same one Mark got here, my wife however did apply for the platinum card off the website, did not get an instant decision but got the 4k limit. No matter how anyone tries to justify Capital One's actions, there really trully is NO logic to it, I am sorry to say but I respect all who find it otherwise and have had great experiences, I am happy for them, we can't all be happy right?


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Established Contributor
KingAdrock
Posts: 656
Registered: ‎07-17-2007
0

Re: Myth about Capital One Credit Lines

I would say the idea that Cap One mainly issues low CL cards isn't a myth at all. Out of 30 cards listed on their site, 19 have a CL cap of 3k or less.

 

My main issue with Cap One is they do not grow with you. They do not know the meaning of product change. It seems the one and only way to improve a crappy card is to combine it with a better card. Don't have another Cap One card? Then you have to app for it. But of course this requires 3 hard inqs on all your CRs.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}