cancel
Showing results for 
Search instead for 
Did you mean: 

What was your 2009 Credit Card Shocker?

Super Contributor

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. 

Message 51 of 79
Regular Contributor

Re: What was your 2009 Credit Card Shocker?

My biggest shocker  was increasing my revolving credit from 12,500 to 90,800
Message 52 of 79
Senior Contributor

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.
Message 53 of 79
Senior Contributor

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.  Smiley Wink

IAALBNYL
Message 54 of 79
Senior Contributor

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. 
Message 55 of 79
Senior Contributor

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.  Smiley Wink


 

     Smiley
Message 56 of 79
Frequent Contributor

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?

Message 57 of 79
Super Contributor

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.  Smiley Wink


 

     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!Smiley Wink

Message 58 of 79
Regular Contributor

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.

Message 59 of 79
Senior Contributor

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.  Smiley Wink


 

     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!Smiley Wink


 

Watch the PBS Frontline documentary on credit (available online) for further information on what solid citizens Cap1 are.
Message 60 of 79