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Valued Contributor
wmarat
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
cartercorp
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
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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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
wmarat
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
creditwherecreditisdue
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 Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
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Re: WOW, I've got preapproval from ..

Cap1 are serious bottom feeders.

 

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

Senior Contributor
BungalowMo
Posts: 4,236
Registered: ‎05-01-2008
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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: 07/2011 TU 732 - EQ 717 - EX 702
Current Score: 06/2014 TU 739 - EQ '08 709 - EX 721
Goal Score: 850

Bury me in the garden...last app 06.18.14

Super Contributor
marty56
Posts: 5,679
Registered: ‎10-06-2007
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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.

09/12/2013 FICO: EQ: 772 EX:813 TU:752
Senior Contributor
creditwherecreditisdue
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!
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Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
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

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