Credit Cards

[Roarmeister]

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DonGonzalo wrote:

Everything is bad about Capital One starting from the application process to the CSR to the arrival and activation of the card. 

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Your experience is obviously different from mine.  I applied in April. 

The website made it easy to figure out which card was best for me and I made an online application for a low-interest card (5.99% rising to prime+4.99% after 3 years, transfers at 5.99% with no transfer fee and no annual fee) and transferred a balance.  The website allowed me to customize the picture so I choose a camping theme.  They did a hard pull the next day.  I got notice of my approval with a very high credit limit about 9 days later and the chip-enabled card came 3 days after that.  When I called to activate, the representative actually spoke clear English, congratulated me on choice and offered advice on how to use the online banking website.  The website is quite useful and I immediately set up my notifications, created a new passcode, transferred my remaining balances to the lower rate card and then went to my own banking site and set up standard 2x monthly payments to the CC account. The monthly statement includes all the required information in a clear easy to follow layout.

It couldn't have been smoother.  I don't foresee a need for CLI ever because they gave me $20k to start which practically doubled my overall credit card limit!

Note: to pay my CCs, I set up 2x monthly payments on paydays through to the end of the year by which time the card will be close to being paid off (pending other charges to it).  That way I know I will never miss a required payment, I will never be late, and the extra payment allows me to pay down the card faster and with less interest than a single payment per month.

[pipeguy]

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Roarmeister wrote:

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DonGonzalo wrote:

Everything is bad about Capital One starting from the application process to the CSR to the arrival and activation of the card. 

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Your experience is obviously different from mine. .....

+10 !

[bettercreditguy1]

Their products have low credit ceiling limits. Some of their beginner cards only go to $ 750.00 max. As you can see, if you start at $ 250,00  there is little room for upward flexibility. To get to a better product after a successful payment history, you must sacrifice another credit hard pull to see if you qualify, which also upon approval would mean closing your old card and starting with a new card, new history, different account number.  Since hard pulls stay on your report for two years and often you are not moved up, this sometimes uses up your pulls when they could be better used to obtain more serious finances as an auto loan or home mortage. Many lenders frown upon multiple hard pulls as it can imply "panic" attemps to get more credit, ie has the person currently or soon going to lose their job, etc.,  So as you see, it raises red flags. Hope this helps.

[Eschaton]

I have nothing against Cap1, they were the only creditor to give me the opportunity to open an account. So my first credit card was an unsecured card with no AF, I guess that's why I have no gripe with Cap1.  The Journey was a great card and served me well, and I had fairly good customer service (I only talked to them through the messaging on their website) where I asked for a CLI but got denied for whatever reason. Fine with me though, because I immediately opened up a Chase Freedom an AmEx ZYNC after that.

I no longer use my Journey card, nor do I think I plan to apply for anything else from Cap1. As mentioned, 3 HP is just unacceptable in my opinion. 

[ItchyAppFingers]

One thing that really gets me about Crap 1 is there clueless, unknowledgable CSR. You talk to them it is like talking to a wall! Its pretty clear they are reading from some script because they have no knowledge what so ever on there products. Thats my experience with them.

[wealthcreator]

I will always love Cap1 because this is the first one to offer me credit card. I started building my credit with this when all other lenders denied me.