Reply
Valued Contributor
Posts: 1,754
Registered: ‎11-03-2007
0

WOW, I've got preapproval from ..

CapOne, with fabulous 22.9% APR and promise to increase CL every 3 mos. Should I?
IN VINO VERITAS.
Established Contributor
Posts: 851
Registered: ‎07-01-2008
0

Re: WOW, I've got preapproval from ..

Tough decision. 22.9 % APR does look pretty sweet.CL every 3 months, now that's a deal breaker thou..If there only giving out a CLI every 3 months I would have to decline there super sweet offer.
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: WOW, I've got preapproval from ..

Why do you suppose they sent you that offer? How low would the APR have to be before you or I would bite on app'ing a card when you know you're going to be hit with three hard INQ's for your efforts?
Valued Contributor
Posts: 1,754
Registered: ‎11-03-2007
0

Re: WOW, I've got preapproval from ..

Speaking seriously:

 

I think they send me this offer based of length of my credit history, assuming that anyone with short credit history must be happy with such an opportunity. I have recently chatted with CapOne rep and he refused to believe that I have 6 figures in available revolving credit.

 

APR itself does not matter, all my APR's are 0%, regardless what creditors think they are.

 

What puzzles me is that I opted out about a year ago and 3 out of 4 CRA are frozen.

IN VINO VERITAS.
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: WOW, I've got preapproval from ..


wmarat wrote:
CapOne, with fabulous 22.9% APR and promise to increase CL every 3 mos. Should I?

 

So the offer isn't based on a soft PRM INQ. Cap1 are serious bottom feeders. If they detect a sign of life somehow they'll get to ya.

 

If it is a serious question, no, you should definitely let this one slip from your hand and into the shredder.

Moderator
Posts: 16,481
Registered: ‎07-14-2009
0

Re: WOW, I've got preapproval from ..

Cap1 are serious bottom feeders.

 

Hey now. You're insulting my oldest account. :smileyvery-happy:

Senior Contributor
Posts: 4,267
Registered: ‎05-01-2008
0

Re: WOW, I've got preapproval from ..


marinevietvet wrote:

Cap1 are serious bottom feeders.

 

Hey now. You're insulting my oldest account. :smileyvery-happy:


...and MY oldest CO!!!!  hahahaha



Starting Score: 02/2015 TU 709 - EQ 676 - EX 729
Current Score: 02/2015 TU 709 - EQ 676 - EX 729
Goal Score: 850

Bury me in the garden...last app 12.19.14

Super Contributor
Posts: 5,703
Registered: ‎10-06-2007
0

Re: WOW, I've got preapproval from ..


wmarat wrote:

What puzzles me is that I opted out about a year ago and 3 out of 4 CRA are frozen.


Funny you mentioned that.  About 4 years ago, I close my $500 CLI card (pre FICO aware) out of protest that they would incrase my CL since that said that type (subprime) of account didnt allow CLIs.  Last week a got a pre-approval from them the went into the garbage almost as fast as any BofA mail.

11/28/2014 FICO: EQ: 796 EX:788 TU:803
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: WOW, I've got preapproval from ..

Well Cap1 are the folks who perfected the concept of sticking cardholders with multiple, low limit cards so they could harvest late and overlimit fees. They would even open second and subsequent accounts for those already in default. Real humanitarians they!
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: WOW, I've got preapproval from ..


wmarat wrote:

Speaking seriously:

 

I think they send me this offer based of length of my credit history, assuming that anyone with short credit history must be happy with such an opportunity. I have recently chatted with CapOne rep and he refused to believe that I have 6 figures in available revolving credit.

 

APR itself does not matter, all my APR's are 0%, regardless what creditors think they are.

 

What puzzles me is that I opted out about a year ago and 3 out of 4 CRA are frozen.



lol, welcome to the US! You're in the big-time now. :smileywink:

Interesting about the freeze, though. You must have come up on some non-credit-related list. Have you opted out of everything, or just frozen your reports?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.