WOW, I've got preapproval from ..

[wmarat]

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

[Anonymous]

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.

[creditwherecreditisdue]

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?

[wmarat]

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.

[creditwherecreditisdue]

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

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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.

[MarineVietVet]

Cap1 are serious bottom feeders.

Hey now. You're insulting my oldest account. 

[BungalowMo]

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@MarineVietVet wrote:

Cap1 are serious bottom feeders.

Hey now. You're insulting my oldest account. 

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...and MY oldest CO!!!!  hahahaha

[marty56]

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@wmarat wrote:

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

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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.

[creditwherecreditisdue]

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!

[haulingthescoreup]

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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.

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

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?