09-20-2012 07:14 AM
I won't close my account...but I definitely won't be using it again due to their stupid CLI rules--if they are working on their system as they claim, they shouldn't be letting people with these cards request CLI and get denied for no reason. I paid off my balance and cashed in my rewards. I'm done with Capital One.
Check this out. I've had a rebuilder card for about 2 years. Starting CL 300. It went to 500 and has stayed there since the last time Jesus wept. Called in for a CLI a few months back and they declined. I told the rep that I was going to take my CC and Car Loan elsewhere and that's exactly what I did. Auto loan decreased $100 per month and got a $5k CC limit with the same institution that refi'd my loan.
I don't care if they construct new review guidelines out of gold bars, I'm not entertaining them anymore. I'll keep the TL open but they won't make another cent off of me, except the annual fee.
09-20-2012 07:31 AM
OP, did you tell her why people don't reopen accounts with them after closing them?
First, they have a bad taste in their mouth from talking to (generally) rude csrs.
Then, they are upset because of all the cli and pc denials.
Third, it's THREE hard pulls for ONE card! They are the only ones I'm aware of who do that.
I told her my experience (thats all I can vouch for since I don't know if anyone elses experiences are truth).
I said if I was denied a credit limit increase I would probably eventually close out my cards and move to another bank. For me personally being denied a limit above $300 when our household income is over 75K is kind of an insult. She asked why I wouldn't apply for another card one that was more suited for my needs. I told her other than "excellent credit" and "average credit" there is really nothing stating that one card would be better suited than the other. I would have been left with a bad taste in my mouth - a card that never grew with me and my credit scores and spending habits. Why would I risk applying for a card that might just end up being the same?
We did have a discussion on the CSRs - I have never come across a RUDE csr, but I did come across a few that blatantly lied. I told her when I know the answer is one thing don't try to tell me something that is both illogical and contrary to common knowledge - its insulting as a customer and makes you loose faith that you'll have someone to go to for an answer when you really need it. I did express that with the chat I rarely get my answer answered the first time around and usually have to rephrase it another way.
I didn't mention the HP becuase honestly it doesn't bother me. I'm usually always in garden mode anyways and if your going on an App spree of prime cards wouldn't you make this the last one you applied for anyways?
I felt as though it was productive and she appreciated my candor with my responses.
I ended the phone call with "I'd love to stay as a customer with Cap 1 as you gave me a start when no one else would, but when push comes to shove - history only goes so far and loyalty needs to be reciprical. If I'm a loyal customer, I'd expect to be rewarded for my sticking around over the years."
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