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Established Contributor
KingAdrock
Posts: 656
Registered: ‎07-17-2007
0

What to do about Cap One...

:smileymad: So I've posted recently about my Cap One card; I've been declined for a CLI and an APR reduction despite my perfect payment history and high (760+) FICOs. Cap 1 has the highest APR and lowest CL of all my cards. I'm so annoyed with them all I really want to do is keep it in the sock drawer and only pull it out to buy a bottle of soda every few months. (or maybe just a pack of gum!)

BUT... I keep reading that Cap One likes activity. All the Cap One CSRs say using your card a lot and PIF makes their computers happy; then you are more likely to get offers for CLIs, APR reductions, etc. In the interest of getting ahead, should I play the game by their rules and use the card more? I PIF every month, so the high APR doesn't affect me. (even if I DO deserve better)

Or should I just give them what they deserve, a one way ticket to sock drawer city until they treat me (a good customer by their own admission) better?
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: What to do about Cap One...

That is an excellent question, which I have been struggling with myself.
 
I am convinced that certain Cap1 cards are capped, depending on what your reports looked like when you first applied.  My scores are not as good as yours, but honestly, I really do deserve more than the $500 CL I'm stuck at.  Every time I call the backdoor number, I'm told there is nothing available for my account, and the "Sr. Account Managers" sometimes even seem perplexed by this.
 
I think once your credit has improved a great deal, the only way out of this hole they have put you in is to apply for a new and better card, and then combine the CLs.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Contributor
betamunupe
Posts: 91
Registered: ‎02-12-2008
0

Re: What to do about Cap One...

:smileyhappy:that's what I had to do...I had a 300 L with them and paid in full all the time...but couldn't get a CL increase that was my first card......called and was unable to give me a increase so I was told to apply for a new one...did so gave me 2000 and the rep told me to use it and just pay it off with normal stuff I would buy with cash...I will see how this works if not I know Cap1 is full of ish!!! hopefully not...
Having credit is important if not more important than having cash!!!
Established Contributor
KingAdrock
Posts: 656
Registered: ‎07-17-2007
0

Re: What to do about Cap One...

Warning: Rant Incoming.

I've heard the new card/combine strategy suggested before, and I'm sure it would work. I'm sure that's what Cap One wants me to do. But I won't do it. I already have a card with them and I'm a good customer. My current card should grow with me. If they aren't willing to do that then as far as I'm concerned they don't want my business. I'm barely willing to play ball as far as regularly using the card, (while they give me no incentive to do so) there's no way I'm apping for a new one. While Cap One is snubbing me with no luv, I'm getting pre-apps from Discover and BofA. If primo companies like that want me as a customer, I'd say a new Cap One card isn't worth the inq.


*Deep Breath*

Ok, that feels better. But seriously, Cap One has some goofy ideas on how to retain customers.

Regular Contributor
Vanyel
Posts: 216
Registered: ‎05-17-2007
0

Re: What to do about Cap One...


I've heard the new card/combine strategy suggested before, and I'm sure it would work. I'm sure that's what Cap One wants me to do. But I won't do it. I already have a card with them and I'm a good customer. My current card should grow with me. If they aren't willing to do that then as far as I'm concerned they don't want my business. I'm barely willing to play ball as far as regularly using the card, (while they give me no incentive to do so) there's no way I'm apping for a new one. While Cap One is snubbing me with no luv, I'm getting pre-apps from Discover and BofA. If primo companies like that want me as a customer, I'd say a new Cap One card isn't worth the inq.


 
This is a little bit like buying a Yugo, and then complaining that they didn't deliver you a Lincoln.  The product you have is the one you qualified for when you applied.  Why not just bite the bullet and get the product you can afford and qualify for now and trade in that old Yugo?
 
Van
 
FICO 6/25/08 TU 668 EQ 646 EX 652
FACO 6/25/08 TU 655 EQ 622 EX 641
Recovering from the App Spree that dropped me like a rock. Post Car loan apps as well.
.
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
0

Re: What to do about Cap One...

I say give them a little usage and see what they do.
 
I was at $500 for 6 years and $500 for 2 years -
Started using them and PIF'ing they were raised to 2K and 3K and I then combined them.
 
If you use the card and they give no love- cust them loose.

KingAdrock wrote:
Warning: Rant Incoming.

I've heard the new card/combine strategy suggested before, and I'm sure it would work. I'm sure that's what Cap One wants me to do. But I won't do it. I already have a card with them and I'm a good customer. My current card should grow with me. If they aren't willing to do that then as far as I'm concerned they don't want my business. I'm barely willing to play ball as far as regularly using the card, (while they give me no incentive to do so) there's no way I'm apping for a new one. While Cap One is snubbing me with no luv, I'm getting pre-apps from Discover and BofA. If primo companies like that want me as a customer, I'd say a new Cap One card isn't worth the inq.


*Deep Breath*

Ok, that feels better. But seriously, Cap One has some goofy ideas on how to retain customers.




Established Member
shelby127
Posts: 19
Registered: ‎01-08-2008
0

Re: What to do about Cap One...

I agree with Timothy.  I don't think there are really "ceilings" for the Cap One cards because my card was classified as a young adult starter card that was only supposed to go up to a CL of 1K, but I've had a CL of 2.5K for the last 3 years out of 6 years of having it.  I've just recently got an upgrade on the same card to a higher tier. ( I guess this would be now be classified as one of their cards for "above average" credit due to my new APR).  So I guess Timothy and I are proof that the "ceiling" mumbo jumbo doesn't mean anything.  I've always used the card and I'm using it even more now (almost all of the limit) and PIFing every month in hopes that the computer will like me and give me a much deserved CLI.  So long story short, try increasing your usage a lot and if that doesn't get you a CLI after a few months then dump 'em.
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: What to do about Cap One...



Vanyel wrote:
 
This is a little bit like buying a Yugo, and then complaining that they didn't deliver you a Lincoln.  The product you have is the one you qualified for when you applied.  Why not just bite the bullet and get the product you can afford and qualify for now and trade in that old Yugo?
 
Van

The problem with that analogy is that Yugos can't just magically turn into Lincolns with the push of a button, while the terms on a CC can be modified very easily.  It's not like the OP is asking for something extremely unusual here.  Other CCCs regulary modify the terms of a card as a cardholder's credit profile improves, including CLIs and APR reductions, without requiring a "trade in."
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Frequent Contributor
BoysMumx2
Posts: 309
Registered: ‎01-24-2008
0

Re: What to do about Cap One...

I think this is interesting, as it echoes my experiences with Cap 1 completely.  I checked the website for the type of card (with the fees and limits) that I got back in 2004 and I don't see it offered.  The backdoor reps told me I had a great history with them, but said they couldn't do anything for me on a CLI.  Then I was told they couldn't waive the AF, so I requested it to be closed.  I wonder if this isn't a kind of "grandfathered" card and they don't treat it like they do the newer cards.
 
Now I know there are folks out there who have those older cards and sometimes they get treated well, but it seems like there are many of us who get shuffled off to the side.  My scores are now about 70 pts higher than they were when I got the card (at least!)...  I think closing it and "taking off the training wheels" as someone said, was a good idea.
 
The tough part is that I seem to have this obsession with being treated well by them.  Don't know why... I just want to see something good come out of all the time I've been a customer with them.  Currently I'm fighting the urge to apply for one of the better cards and if I get it, see if they'd combine it with my old account...  But maybe I'm just being obsessive...
 
One last comment - they seem to really like those folks just freshly out of bk, but not the ones that have been out longer.  This is just an impression and MHO, but it's a pattern I've seen.

Starting Score: EQ 622, TU 676, EX 643 (mtg lender pulls) 2/1/12
Current Score: EQ 743, TU 775 (6/18 MyFico), EX 722 (per CITI approval letter 6/29/12 pull)
Goal Score: New goal: 760+ on all 3


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Established Contributor
FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007
0

Re: What to do about Cap One...

It seems to me that the only time I get a CLI is after BT and paying off in 3 payments.

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