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What is bad about Capital One?

Frequent Contributor

Re: What is bad about Capital One?


DonGonzalo wrote:

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


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.


Starting Score: 732 October 2007; Current Score: EQ 825; TU 873, April 2018; Oldest Reporting EQ Account: 16.2 years; EQ AAoA: 8.1 years; Typical credit utilization 1.8% typical single card utilization 10.6%
Message 71 of 99
Valued Contributor

Re: What is bad about Capital One?


Roarmeister wrote:

DonGonzalo wrote:

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


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

+10 !

Message 72 of 99
Established Contributor

Re: What is bad about Capital One?

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.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 73 of 99
Regular Contributor

Re: What is bad about Capital One?

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. 

Capital One Journey (12/2010) | Chase Freedom (03/2012) | American Express Zync (03/2012)

Gardening since 03/2012
Experian score: 752 (6/2014)
Message 74 of 99
New Contributor

Re: What is bad about Capital One?

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. Smiley Mad
My Current Plastic: {Amazon Store Card} {Amazon Visa} {Amex Zync} {Amex Gold PRG} {Amex BCE} {Bloomingdales} {BOA 123 Cash Rewards} {Capital One Platinum Visa} {Chase Freedom Visa} {Discover IT} {Kohls} {Macy's} {Nordstrom} {SonyCard Visa} {Target RedCard}
Message 75 of 99
Highlighted
Contributor

Re: What is bad about Capital One?

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.

Walmart TU-724 on 12-2012
EX-707 on 08-2012
EQ-668on 08-2012
_________________________________
Wallet - Discover 1500 | Chase Freedom 1500 | OldNavy Visa 2750 | Walmart 2000 | Amex BCE 6000 | BoA Visa Sig 5000 | Chase Marriott 5000 | Amex Hhonor 2000 | CSP 5000
__________________________________________
Message 76 of 99
New Visitor

Re: What is bad about Capital One?

Capitol are crooks. The steal peoples money. Capitol One took $5789 dollars out of my account.

They never told me they would take this money out of my poor family. They hired a rich agency Recovery out if San diego,ca

Since 1996 to get money i did not have. Capitol One are bad people. Don't trust Capitol One they steal poor peoples money

Message 77 of 99
Senior Contributor

Re: What is bad about Capital One?


1124design wrote:

Capitol are crooks. The steal peoples money. Capitol One took $5789 dollars out of my account.

They never told me they would take this money out of my poor family. They hired a rich agency Recovery out if San diego,ca

Since 1996 to get money i did not have. Capitol One are bad people. Don't trust Capitol One they steal poor peoples money


I hope you are aware that what you charge on your credit cards (not only Cap1) it is YOUR responsibility to pay back! Smiley Surprised

Message 78 of 99
Frequent Contributor

Re: What is bad about Capital One?


lg8302ch wrote:

1124design wrote:

Capitol are crooks. The steal peoples money. Capitol One took $5789 dollars out of my account.

They never told me they would take this money out of my poor family. They hired a rich agency Recovery out if San diego,ca

Since 1996 to get money i did not have. Capitol One are bad people. Don't trust Capitol One they steal poor peoples money


I hope you are aware that what you charge on your credit cards (not only Cap1) it is YOUR responsibility to pay back! Smiley Surprised


Yep, exactly as lg8302ch-!!! Second of all, it is CapitAl One, not ''Capitol''....Credit is not a gift card and why do you consider yourself ''poor''??  Why did Capital One grant you credit in the first place?? ''This could get ugly.......''

Capital One QS1, Capital One Journey, Williams-Sonoma Visa, Amex Travelocity, Chase Slate, Amex SPG, Amex Blue Sky, Bank of America Travel Rewards, JCPenney...and more ( Holy Spirit rocks-!! ) TU-Fico-777
Message 79 of 99
Frequent Contributor

Re: What is bad about Capital One?

CapOne has always been good to me. I can't say anything bad about them.

 

 

 

Message 80 of 99