Reply
Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: What was your 2009 Credit Card Shocker?

 

I don't understand why people think Capital One should have lower standards during its underwriting decisions. 

Contributor
tmoney
Posts: 78
Registered: ‎08-04-2007
0

Re: What was your 2009 Credit Card Shocker?

My biggest shocker  was increasing my revolving credit from 12,500 to 90,800
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: What was your 2009 Credit Card Shocker?


DI wrote:

 

I don't understand why people think Capital One should have lower standards during its underwriting decisions. 


 

Might be because they have a well deserved reputation as bottom feeders. It is their modus operandi and they are famous for it. The concept of multiple, low limit cards issued to marginal cardholders to harvest fees was (and maybe is) their bread and butter.
Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
0

Re: What was your 2009 Credit Card Shocker?


creditwherecreditisdue wrote:

DI wrote:

 

I don't understand why people think Capital One should have lower standards during its underwriting decisions. 


 

Might be because they have a well deserved reputation as bottom feeders. It is their modus operandi and they are famous for it. The concept of multiple, low limit cards issued to marginal cardholders to harvest fees was (and maybe is) their bread and butter.

CWCID, in the interests of accuracy, please remove the words "might be" from your reply.  :smileywink:

IAALBNYL
Senior Contributor
fishbjc
Posts: 3,362
Registered: ‎11-30-2007
0

Re: What was your 2009 Credit Card Shocker?

Dh only received a couple very small cld's.....reached $50k in lines.  Lot's of cli from stores. 
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: What was your 2009 Credit Card Shocker?


O6 wrote:

creditwherecreditisdue wrote:

DI wrote:

 

I don't understand why people think Capital One should have lower standards during its underwriting decisions. 


 

Might be because they have a well deserved reputation as bottom feeders. It is their modus operandi and they are famous for it. The concept of multiple, low limit cards issued to marginal cardholders to harvest fees was (and maybe is) their bread and butter.

CWCID, in the interests of accuracy, please remove the words "might be" from your reply.  :smileywink:


 

     Smiley
Frequent Contributor
ladydi
Posts: 278
Registered: ‎10-17-2009
0

Re: What was your 2009 Credit Card Shocker?


Shane1 wrote:

Finding out I have a JCPenney credit card that I opened 12 years ago but didn't remember having. It was open but inactive, so I called them for a replacement, which they did without a problem, saving my oldest card by three years.

 

Aside from the CLD I got from HSBC in February, it was a good year. Three new cards (including one with my highest limit ever) and an auto loan. I also found out that anybody can join a credit union, regardless of what affiliation they have.

 

Most shocking credit moment of 2009: pulling my EQ FICO and seeing it at 803. After 7 years with a dozen or so derogatory accounts, I wasn't sure what to expect, but it wasn't that.


did u made those accounts good, or u let them fall off?

Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: What was your 2009 Credit Card Shocker?


creditwherecreditisdue wrote:

O6 wrote:

creditwherecreditisdue wrote:

DI wrote:

 

I don't understand why people think Capital One should have lower standards during its underwriting decisions. 


 

Might be because they have a well deserved reputation as bottom feeders. It is their modus operandi and they are famous for it. The concept of multiple, low limit cards issued to marginal cardholders to harvest fees was (and maybe is) their bread and butter.

CWCID, in the interests of accuracy, please remove the words "might be" from your reply.  :smileywink:


 

     Smiley

Awe it's not that funny! LOL.  They have helped a lot of 'bottom feeders' get their credit scores back up in due time.  Just look at mines!:smileywink:

Regular Contributor
favor4me2
Posts: 138
Registered: ‎03-05-2008
0

Re: What was your 2009 Credit Card Shocker?

My biggest shocker was a CLI to 1k from Target after having a $200 cl for over 2 years, and reading these forums about Target and how they don't increase your cl.

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: What was your 2009 Credit Card Shocker?


DI wrote:

creditwherecreditisdue wrote:

O6 wrote:

creditwherecreditisdue wrote:

DI wrote:

 

I don't understand why people think Capital One should have lower standards during its underwriting decisions. 


 

Might be because they have a well deserved reputation as bottom feeders. It is their modus operandi and they are famous for it. The concept of multiple, low limit cards issued to marginal cardholders to harvest fees was (and maybe is) their bread and butter.

CWCID, in the interests of accuracy, please remove the words "might be" from your reply.  :smileywink:


 

     Smiley

Awe it's not that funny! LOL.  They have helped a lot of 'bottom feeders' get their credit scores back up in due time.  Just look at mines!:smileywink:


 

Watch the PBS Frontline documentary on credit (available online) for further information on what solid citizens Cap1 are.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+