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Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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Re: What was your 2009 Credit Card Shocker?


creditwherecreditisdue wrote:

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.

I just finished watching Frontline documentary.  There was no mentioning of Capital One.  Not even a credit card image of them.  I wish people would stop bashing Capital One for unjust reasons.  

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
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Re: What was your 2009 Credit Card Shocker?


creditwherecreditisdue wrote:

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.

 

How about a PM with a link, please?
IAALBNYL
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: What was your 2009 Credit Card Shocker?


DI wrote:

creditwherecreditisdue wrote:

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.

I just finished watching Frontline documentary.  There was no mentioning of Capital One.  Not even a credit card image of them.  I wish people would stop bashing Capital One for unjust reasons.  


You might have to try this one:

 

     http://www.maxedoutmovie.com/

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

Re: What was your 2009 Credit Card Shocker?


O6 wrote:

creditwherecreditisdue wrote:

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.

 

How about a PM with a link, please?

http://www.pbs.org/wgbh/pages/frontline/shows/credit/

New Member
Posts: 3
Registered: ‎01-07-2010
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Re: What was your 2009 Credit Card Shocker?

People bash Capital One because they SUCK! They charge OUTRAGEOUS INTEREST RATES. Let’s see what you have to say when you try to pay off / close your account you'll see! I won’t spoil it for you. I’ll let you experience Capital One yourself. Then you will see why so many people have so many bad things to say. I place them right up there with EXPERIAN. They suck too!

Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
0

Re: What was your 2009 Credit Card Shocker?


pltc wrote:

People bash Capital One because they SUCK! They charge OUTRAGEOUS INTEREST RATES. Let’s see what you have to say when you try to pay off / close your account you'll see! I won’t spoil it for you. I’ll let you experience Capital One yourself. Then you will see why so many people have so many bad things to say. I place them right up there with EXPERIAN. They suck too!


I have had my  Capital One card since October 2001.  I haven't paid any interest on the card since 2004.  I have seen my interest rate go up and down, but never cared what it was.  Paying in Full monthly is a problem solver.  

Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
0

Re: What was your 2009 Credit Card Shocker?

Besides a 10 second SOT(sound on tape) of a representative of Capital One during a Senate hearing, there were no mentioning of Capital One being the culprit of predatory lending. 

 

I watched both documentary! And there's no mentioning of Capital One.  People need to stop posting negative claims, that holds no merit, about Capital One.  

Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
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Re: What was your 2009 Credit Card Shocker?

DI, have you ever checked into their top-tier card, now that your scores and reports are so good? I don't know if Cap One does PC's or not; if so, it might be worth investigating.

In the past, we've had members report getting the top-tier No-Hassle Miles card and the other Plat card, and they had great CL's, customer service, and so forth. I haven't heard any updates recently, so I don't know if things have changed, but these folks were delighted with Cap One.

But you do have to admit that since so many of their cards are for rebuilders, they come with the frustrations of low CL's, few CLI's, and so forth, and so we see the exasperations expressed here. A lot of this comes from people trying to change their card into something it was never meant to be.

And I also think that some of it is just from the fun pun of "Crap One." Smiley Wink
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
0

Re: What was your 2009 Credit Card Shocker?

[ Edited ]

haulingthescoreup wrote:
DI, have you ever checked into their top-tier card, now that your scores and reports are so good? I don't know if Cap One does PC's or not; if so, it might be worth investigating.

In the past, we've had members report getting the top-tier No-Hassle Miles card and the other Plat card, and they had great CL's, customer service, and so forth. I haven't heard any updates recently, so I don't know if things have changed, but these folks were delighted with Cap One.

But you do have to admit that since so many of their cards are for rebuilders, they come with the frustrations of low CL's, few CLI's, and so forth, and so we see the exasperations expressed here. A lot of this comes from people trying to change their card into something it was never meant to be.

And I also think that some of it is just from the fun pun of "Crap One." Smiley Wink

I haven't applied for any other Capital One cards.  I vowed to not carry two if it's cards.  Unless they do a PC, I will still hold on to my 9 Y.O. card.  The age of the account is more important than the credit limit.  

 

Also, when I first recevied the Cap 1 card, I had just start building credit.  

Message Edited by DI on 01-10-2010 11:21 AM
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: What was your 2009 Credit Card Shocker?


DI wrote:

Besides a 10 second SOT(sound on tape) of a representative of Capital One during a Senate hearing, there were no mentioning of Capital One being the culprit of predatory lending. 

 

I watched both documentary! And there's no mentioning of Capital One.  People need to stop posting negative claims, that holds no merit, about Capital One.  


 

No false claim, DI. Only false company PR. 

 

There is a mainstream documentary available which clearly presents Capital One's modus operandi as a bottom feeder, issuing multiple additional low limit credit cards to their existing cardholders who are already in default. The purpose for issuing these additional low limit CC accounts is to harvest late and overlimit fees from cardholders who are already in trouble. I know for a fact that this is not a false depiction. Both Capital One and Providian pioneered new methods for extracting profits from desperate, subprime credit card seekers. Both have depicted themselves as acting in the public interest, providing an "educational" service. The actual education to be gained is that once a subprime creditcard issuer gets their hooks into you there is nothing they will not do to extract the last nickel possible from you. And Capital One is predominately subprime.

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