What is up with Capital One ...?

[iamrayl]

So I've had their Visa Platinum card since Oct. 2004 ($1000 CL, 8.99 APR), best APR of all my other cards. So I called the backdoor number listed here last week to inquire about a CLI, they asked me a bunch of questions then said they can't increase my limit even though I've never missed a payment and the account is in good standing. So I decided to call again today. Rep asked me to hold on and came back and said the best she could do for me was increase it by $500.00, I was like are you serious (that's the best you can do for a good customer). She said Cap One appreciates my business and she went ahead and increased it. What is up with Capital One? I have two other cards, one with BOA with a 9500 CL and one with Citibank with 3K. Shouldn't Capital One reward customers that do good by them? Anyway I took the $500.00 CLI, I guess it's better than nothing but I was hoping for a bigger increase.

Message Edited by iamrayl on 06-30-2008 08:54 AM

[voidman]

How often did you use this Capital One card?

Capital one likes high usage on their card.

[iamrayl]

I use it alot and usually PIF every month and I also do alot of balance transfers. They can see that from the account history. The only reason I am keeping this card is because of the good interest rate, if not I'd stop using it and do business elsewhere.

[voidman]

strange, if you search the forum there are bunch of people who have received good CLIs within a year or so.

btw, is BT free for the card you have?

[Anonymous]

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voidman wrote:
strange, if you search the forum there are bunch of people who have received good CLIs within a year or so.

btw, is BT free for the card you have?

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...and lots of us who get nothin' from them at all.

I always cringe a little when I read posts that say, "Call the backdoor number and they will..." etc, etc, etc., as if it's a sure thing.  Cap1 is very, very much YMMV.

I'm in the 10th month with my Cap1 card.  Stuck at $500, and I use about $240 of that each month.  Always PIF.  Never, ever late.  They will not give me a CLI no matter how often I try.

Meanwhile, my scores are up 100+ across the board, and I have other lines up to $15K.

[iamrayl]

No it's at 5.99, occassionally they send me offers for 0% BT.

[voidman]

I have a Cap1 card, just 3 months old, I got a $250 auto CLI this month, now its at $750. I envied the guy who jumped from $300 to $1100 by calling the backdoor number and his auto CLI.


But looks like, Cap1 earning model is different from other banks besides the transaction fees.

First they don't care about less usage guys.
They probably hate people who PIF, they want to earn money from people who do not PIF.
They target people who "could" go over the limit, If you have another card with 10k limit, then they figure that you will never go over the limit on a $500 card.

Well, anyway, those reasons don't make any sense to me...

Since this is my first unsecured credit card, lets see how it goes.

Thanks for the info though.

[msheresy]

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voidman wrote:
I have a Cap1 card, just 3 months old, I got a $250 auto CLI this month, now its at $750. I envied the guy who jumped from $300 to $1100 by calling the backdoor number and his auto CLI.


But looks like, Cap1 earning model is different from other banks besides the transaction fees.

First they don't care about less usage guys.
They probably hate people who PIF, they want to earn money from people who do not PIF.
They target people who "could" go over the limit, If you have another card with 10k limit, then they figure that you will never go over the limit on a $500 card.

Well, anyway, those reasons don't make any sense to me...

Since this is my first unsecured credit card, lets see how it goes.

Thanks for the info though.

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I called the backdoor and went from 300 to 600 then my credit steps kicked in this past friday and it went to 1100.  I called today and asked when I would be eligible for another increase and was told that I do not have any offers currently on my account........?   I plan to call back a few more times until it sinks in that they arent going to give me any more money.  :-)

Once the credit steps is done, does it continue?  SHould I expect another auto cli in another 3 months?

[WhirledPeasPlease]

I went from 3k to 3750 to 4250 in less than 4 months.  Cap1 is indeed a strange beast.

[voidman]

msheresy,

I think they are no credit step programs after the first one. after that consider yourself lucky (you are as you went from $300 to $1100)