topic Re: Thanks capital one in Credit Card Approvals

Thanks capital one

Anonymous — Mon, 27 Jul 2015 14:32:42 GMT

finally got a CLI from capital one a whole $1000 utili is 3% i was really surprised

Re: Thanks capital one

OmarGB9 — Mon, 27 Jul 2015 14:33:40 GMT

Congrats! Cap1 is really changing for the better, IMO.

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 14:40:27 GMT

Only for their top-rated cards, I think. I made a big mistake of applying for a mastercard 14 months ago when I had good credit that was probably a lower tier card, because I didn't know any better. Cap One has that card at 3k, which is super lame, but just gave me a new 15k Venture and a new 5k Quicksilver.

I'll take the higher limit cards because they are more appropriate to my credit level (have cards with 5,800, 10k, 13k, 15k credit limits, etc), but I still do not like the uneven business practices of Capital One.

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 22:47:36 GMT

@Anonymous wrote:
Only for their top-rated cards, I think. I made a big mistake of applying for a mastercard 14 months ago when I had good credit that was probably a lower tier card, because I didn't know any better. Cap One has that card at 3k, which is super lame, but just gave me a new 15k Venture and a new 5k Quicksilver.

I'll take the higher limit cards because they are more appropriate to my credit level (have cards with 5,800, 10k, 13k, 15k credit limits, etc), but I still do not like the uneven business practices of Capital One.

It might seem uneven but you have to look at it from their view; they have to minimize risk and they take on a lot of risk giving cards to those of us with low credit scores, derogs on our reports, BK, etc. So while they give us a second chance at credit, they still have to be careful as to how much risk they're willing to take on for us. That's why their sub-prime cards never grow but their prime cards do. It's ok for us to start with the low limit cards to build or rebuild our credit, and then once we establish a good credit history and better scores, then it's time to let go of the sub-prime card and apply for a prime one. So I'm glad that Cap1 has this uneven practice, because it gives those who can't get credit anywhere else a chance (unlike most other lenders who won't give credit at all unless you have good scores).

And to OP - congrats on your CLI!

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 16:13:55 GMT

@Anonymous wrote:
finally got a CLI from capital one a whole $1000 utili is 3% i was really surprised

Very nice.. Enjoy your CLI..

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 16:19:47 GMT

Justme, that may be true but I''ve never had anyn negatives on my report and was not a reubuilder. The only mistake I made was applying for one of their subtier cards by mistake and not understanding that they would not appropriately give CLis' in line with my credit profile unless I applied for a top tier card. Just hit 112k in available credit with a few new approvals and am only using CapOne for what i can as advised to do on here. Don't have much use for them otherwise.

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 16:27:43 GMT

@Anonymous wrote:
Justme, that may be true but I''ve never had anyn negatives on my report and was not a reubuilder. The only mistake I made was applying for one of their subtier cards by mistake and not understanding that they would not appropriately give CLis' in line with my credit profile unless I applied for a top tier card. Just hit 112k in available credit with a few new approvals and am only using CapOne for what i can as advised to do on here. Don't have much use for them otherwise.

I understand. Not many people realize that some of their cards won't grow. It would be nice if they had a disclaimer before you app that said that the card you're applying for will have a max limit of "x" for its lifetime. Then people can make the decision of whether or not that will be worth 3 HPs for them. Or even if they just came out and labeled the cards as either "prime" or "sub-prime" would help a little. I guess maybe to make up to all of its customers for those crappy cards with crappy limits, they started to let us combine cards

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 17:10:26 GMT

@Anonymous wrote:
@Anonymous wrote:
Justme, that may be true but I''ve never had anyn negatives on my report and was not a reubuilder. The only mistake I made was applying for one of their subtier cards by mistake and not understanding that they would not appropriately give CLis' in line with my credit profile unless I applied for a top tier card. Just hit 112k in available credit with a few new approvals and am only using CapOne for what i can as advised to do on here. Don't have much use for them otherwise.
I understand. Not many people realize that some of their cards won't grow. It would be nice if they had a disclaimer before you app that said that the card you're applying for will have a max limit of "x" for its lifetime. Then people can make the decision of whether or not that will be worth 3 HPs for them. Or even if they just came out and labeled the cards as either "prime" or "sub-prime" would help a little. I guess maybe to make up to all of its customers for those crappy cards with crappy limits, they started to let us combine cards

Agreed, JustMe! Better labeling would be great. I'm hoping to combine the old baby limit 3k mastercard with my new 15k Venture but from what I am hearing, may have to wait until the Venture hits 6 months?

Re: Thanks capital one

OmarGB9 — Mon, 27 Jul 2015 17:14:10 GMT

^Yes

Re: Thanks capital one

MissMoni223 — Mon, 27 Jul 2015 18:18:22 GMT

Way to go!!!

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 18:34:13 GMT

Congrats!

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 20:11:55 GMT

Thank you myfico for all the advise and luv that this board provides for us rebuilding our credit and on our home journey aswell.

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 22:42:04 GMT

Congrats on the CLI

Re: Thanks capital one

Anonymous — Mon, 27 Jul 2015 22:52:19 GMT

@Anonymous wrote:

Agreed, JustMe! Better labeling would be great. I'm hoping to combine the old baby limit 3k mastercard with my new 15k Venture but from what I am hearing, may have to wait until the Venture hits 6 months?

Yes, both cards must be at least 6 months old.

Re: Thanks capital one

alextercero — Mon, 27 Jul 2015 23:07:11 GMT

Congrats

Re: Thanks capital one

tbque — Tue, 28 Jul 2015 00:17:08 GMT

Congratulations!