topic Re: Hating Capital One in Credit Card Applications

Hating Capital One

Anonymous — Thu, 20 Jul 2017 20:10:43 GMT

I've applied for the Capital One secured card three times in the past year trying to get a lower deposit than $200. The last time was back in May, I believe it was. I did not pay the deposit because I have no need whatsoever for another secured card (I have the 99/500 from BoA and a fully secured card from Discover). However, for a lower deposit I was willing to open one with Capital One to start forming a relationship with them.

HOWEVER, I've been checking their pre-qualification thing for weeks because WalletHub told me I had a good chance of being approved for a non-secured card and it kept saying I had an existing application. Well, today it let me do the pre-qualification. I was hoping to see one for Platinum or QS, but it was just another secured pre-qualification. Bummer. But I thought, "Hey, my credit has improved considerably since my last app, so maybe they will ask for less than $200."

NOPE.

Even though my scores are now higher than my husbands were when they asked him for $99 for his deposit, they still want $200 from me. Grrrrr.

I really think I may just give up on Capital One permanently. Now I have YET ANOTHER hard pull on my credit report for absolutely nothing, AND I won't be able to apply for anything from Capital One until October now. I was so sure I would get at least a $99 offer this time since my scores are better than my husband's were when he got that offer. Why, Capital One? WHY?

Re: Hating Capital One

Anonymous — Thu, 20 Jul 2017 20:21:52 GMT

I think you should take the credit lines you have and let them mature in the garden for a bit. Applying with CapOne is costly as it hits all three bureaus. Slow and steady!

Re: Hating Capital One

Anonymous — Thu, 20 Jul 2017 20:35:58 GMT

You can get a store card if you want a third card. There is more than FICO scores involved as I got a Cap 1 Platinum with 528 FICO. Are your baddies pretty recent?

Really what benefit does a 500 dollar limit no rewards card with 25 percent give you anyway? The Bank of America 99/500 card is much better anyway. I got 84 dollars cash back in 2 months using it. Of course it came with a 39 dollar fee. Still if you use it for every purchase you make you will come out a head if you pay your bill in full. And mine unsecured at 5 months.

Re: Hating Capital One

FireMedic1 — Thu, 20 Jul 2017 21:26:12 GMT

@Anonymous wrote:
I've applied for the Capital One secured card three times in the past year trying to get a lower deposit than $200. The last time was back in May, I believe it was. I did not pay the deposit because I have no need whatsoever for another secured card (I have the 99/500 from BoA and a fully secured card from Discover). However, for a lower deposit I was willing to open one with Capital One to start forming a relationship with them.

HOWEVER, I've been checking their pre-qualification thing for weeks because WalletHub told me I had a good chance of being approved for a non-secured card and it kept saying I had an existing application. Well, today it let me do the pre-qualification. I was hoping to see one for Platinum or QS, but it was just another secured pre-qualification. Bummer. But I thought, "Hey, my credit has improved considerably since my last app, so maybe they will ask for less than $200."

NOPE.

Even though my scores are now higher than my husbands were when they asked him for $99 for his deposit, they still want $200 from me. Grrrrr.

I really think I may just give up on Capital One permanently. Now I have YET ANOTHER hard pull on my credit report for absolutely nothing, AND I won't be able to apply for anything from Capital One until October now. I was so sure I would get at least a $99 offer this time since my scores are better than my husband's were when he got that offer. Why, Capital One? WHY?

You can only apply for Cap1 cards every 6 months, probably why 3rd time was denied. Dont go by any of these websites and the chances you have for any CC. CK says I have a good chance for an AMEX card. Yeah right. I'm a BK'er. Go straight to Cap1's Prequal page and see directly what they have to offer you. Not a pass thru link. JMO. GL.

Re: Hating Capital One

Anonymous — Thu, 20 Jul 2017 21:27:53 GMT

@Anonymous wrote:
You can get a store card if you want a third card. There is more than FICO scores involved as I got a Cap 1 Platinum with 528 FICO. Are your baddies pretty recent?

Really what benefit does a 500 dollar limit no rewards card with 25 percent give you anyway? The Bank of America 99/500 card is much better anyway. I got 84 dollars cash back in 2 months using it. Of course it came with a 39 dollar fee. Still if you use it for every purchase you make you will come out a head if you pay your bill in full. And mine unsecured at 5 months.

She is showing in her sig that she has 6 revolving trade lines already which is why I suggested the garden for her and not more, often useless, store cards. I agree the BOA is a great card and would add the Discover she has to that too. If she keeps looking for new credit though, I'm sure BOA and Discover will drag their feet releasing the secured on them. The garden is her best place I believe.

Re: Hating Capital One

FireMedic1 — Thu, 20 Jul 2017 21:34:33 GMT

@Anonymous wrote:
@Anonymous wrote:
You can get a store card if you want a third card. There is more than FICO scores involved as I got a Cap 1 Platinum with 528 FICO. Are your baddies pretty recent?

Really what benefit does a 500 dollar limit no rewards card with 25 percent give you anyway? The Bank of America 99/500 card is much better anyway. I got 84 dollars cash back in 2 months using it. Of course it came with a 39 dollar fee. Still if you use it for every purchase you make you will come out a head if you pay your bill in full. And mine unsecured at 5 months.
She is showing in her sig that she has 6 revolving trade lines already which is why I suggested the garden for her and not more, often useless, store cards. I agree the BOA is a great card and would add the Discover she has to that too. If she keeps looking for new credit though, I'm sure BOA and Discover will drag their feet releasing the secured on them. The garden is her best place I believe.

i agree. I paid more attention to the displeasure and times applied in a year. Tx.

Re: Hating Capital One

Anonymous — Thu, 20 Jul 2017 21:53:27 GMT

I guess I was more hoping for my first non-store unsecured line and was really disappointed to see they only offered me a secured card pre-approval. Then I figured maybe I could at least get my foot in the door with a secured card if they'd offer me less than a $200 deposit. No way I'm accepting nearly 25% interest and no rewards for a fully secured card, but I would have for partially-secured.

I do have a handful of baddies, but my husband has more than me and got the 99/200 offer. His and mine are all around the same time period (when our daughter was in the hospital for 2.5 months a couple of years ago) but he has a few more than I do. I think mine are slightly higher in overall value, though, because I have 3 four-figure medical collections from when we didn't have insurance and I don't even remotely have any hope of paying them anytime soon. I also have a tax lien that's been removed from EQ, but not TU or EX yet, and I believe they only pulled EX because that's the only alert I've had from all the various credit monitoring services I'm signed up for. At least I might have gotten lucky enough to escape a triple pull.

Income is around $36,000 per year for each of us. He's been employed at his current job for 6 months, and I've been self-employed for 20+ years.

Re: Hating Capital One

Anonymous — Thu, 20 Jul 2017 22:47:06 GMT

I'm not sure what Cap 1 critera is, but I got a $300 unsecured card back in February, and my score was 533.

Re: Hating Capital One

SouthJamaica — Fri, 21 Jul 2017 14:48:07 GMT

@Anonymous wrote:
I've applied for the Capital One secured card three times in the past year trying to get a lower deposit than $200. The last time was back in May, I believe it was. I did not pay the deposit because I have no need whatsoever for another secured card (I have the 99/500 from BoA and a fully secured card from Discover). However, for a lower deposit I was willing to open one with Capital One to start forming a relationship with them.

HOWEVER, I've been checking their pre-qualification thing for weeks because WalletHub told me I had a good chance of being approved for a non-secured card and it kept saying I had an existing application. Well, today it let me do the pre-qualification. I was hoping to see one for Platinum or QS, but it was just another secured pre-qualification. Bummer. But I thought, "Hey, my credit has improved considerably since my last app, so maybe they will ask for less than $200."

NOPE.

Even though my scores are now higher than my husbands were when they asked him for $99 for his deposit, they still want $200 from me. Grrrrr.

I really think I may just give up on Capital One permanently. Now I have YET ANOTHER hard pull on my credit report for absolutely nothing, AND I won't be able to apply for anything from Capital One until October now. I was so sure I would get at least a $99 offer this time since my scores are better than my husband's were when he got that offer. Why, Capital One? WHY?

I'm not going to disagree with someone who decides to give up on Capital One permanently. I used to defend Capital One from its many detractors on this site, but then after many years of exemplary management of my Cap One accounts and all of my credit, my accounts were closed for reasons that make no sense, and I wasn't even able to get an explanation.

They treat their customers like dogs, so I think ditching Capital One is a wise move.

Re: Hating Capital One

Total80sKid — Sat, 22 Jul 2017 05:23:51 GMT

Capital One has been the worst credit card company I have had to deal with.

Their constant condescending, 'well we currently don't see any offers for you at the moment, but feel free to call back at a later date' send me over the edge!

For 3yrs. That's all they will ever say. Twitter, Facebook, pvt chat, supervisors, etc.

I understand a lot of people love them and I'm glad they help so many people but when they refuse to upgrade a secured card after 3yrs or to at least remove the fee for a card with no benefits, they do not get my swipes nor y loyalty.

Tomorrow both accounts are being closed.

I am so excited I finally got th down to $0. I'm almost as excited as I was for Christmas at 7 years old!

Re: Hating Capital One

Chrisla2077 — Sat, 22 Jul 2017 05:48:09 GMT

I agree that you should allow the accounts you have to Garden. I was approved for the secured at $49 after about a 1 year history on a fingerhut and express credit card. and then roughly 1 year later the QS1 and Platinum cards, which they upgraded to to a Venture 1 a year later.

All that to say..I know t's beyond hard being patient, but gardening what you have will only get you better offers later.

Re: Hating Capital One

Anonymous — Sat, 22 Jul 2017 07:06:33 GMT

@FireMedic1 wrote:
@Anonymous wrote:
I've applied for the Capital One secured card three times in the past year trying to get a lower deposit than $200. The last time was back in May, I believe it was. I did not pay the deposit because I have no need whatsoever for another secured card (I have the 99/500 from BoA and a fully secured card from Discover). However, for a lower deposit I was willing to open one with Capital One to start forming a relationship with them.

HOWEVER, I've been checking their pre-qualification thing for weeks because WalletHub told me I had a good chance of being approved for a non-secured card and it kept saying I had an existing application. Well, today it let me do the pre-qualification. I was hoping to see one for Platinum or QS, but it was just another secured pre-qualification. Bummer. But I thought, "Hey, my credit has improved considerably since my last app, so maybe they will ask for less than $200."

NOPE.

Even though my scores are now higher than my husbands were when they asked him for $99 for his deposit, they still want $200 from me. Grrrrr.

I really think I may just give up on Capital One permanently. Now I have YET ANOTHER hard pull on my credit report for absolutely nothing, AND I won't be able to apply for anything from Capital One until October now. I was so sure I would get at least a $99 offer this time since my scores are better than my husband's were when he got that offer. Why, Capital One? WHY?
You can only apply for Cap1 cards every 6 months, probably why 3rd time was denied. Dont go by any of these websites and the chances you have for any CC. CK says I have a good chance for an AMEX card. Yeah right. I'm a BK'er. Go straight to Cap1's Prequal page and see directly what they have to offer you. Not a pass thru link. JMO. GL.

Is this a new rule? I seem to recall applying for 2 in about 6 days.(and being approved!). I agree with the rest of your post though! Capital One has been an amazing tool in my rebuild, and I am extremely grateful for them! (I learned the hard way that Barclays was not the same way about approving a 2nd card, lol). It's funny the things we can laugh about now that hurt a bit at the time.

Re: Hating Capital One

Anonymous — Sat, 22 Jul 2017 08:08:31 GMT

@Anonymous wrote:
I guess I was more hoping for my first non-store unsecured line and was really disappointed to see they only offered me a secured card pre-approval. Then I figured maybe I could at least get my foot in the door with a secured card if they'd offer me less than a $200 deposit. No way I'm accepting nearly 25% interest and no rewards for a fully secured card, but I would have for partially-secured.

I do have a handful of baddies, but my husband has more than me and got the 99/200 offer. His and mine are all around the same time period (when our daughter was in the hospital for 2.5 months a couple of years ago) but he has a few more than I do. I think mine are slightly higher in overall value, though, because I have 3 four-figure medical collections from when we didn't have insurance and I don't even remotely have any hope of paying them anytime soon. I also have a tax lien that's been removed from EQ, but not TU or EX yet, and I believe they only pulled EX because that's the only alert I've had from all the various credit monitoring services I'm signed up for. At least I might have gotten lucky enough to escape a triple pull.

Income is around $36,000 per year for each of us. He's been employed at his current job for 6 months, and I've been self-employed for 20+ years.

If you haven't already, I think you should run to the garden.

Based on your signature it appears you have more than enough revolving credit to maximize FICO scoring for that section.

One of the best things you can do for yourself is stop comparing your credit profile to your husbands. This will cause you unnecessary aggravation and it's not worth it. You already have 2 very good secured credit cards in your arsenal that will graduate.

Good luck!

Re: Hating Capital One

Anonymous — Sat, 22 Jul 2017 08:11:15 GMT

@Anonymous wrote:
@FireMedic1 wrote:
@Anonymous wrote:
I've applied for the Capital One secured card three times in the past year trying to get a lower deposit than $200. The last time was back in May, I believe it was. I did not pay the deposit because I have no need whatsoever for another secured card (I have the 99/500 from BoA and a fully secured card from Discover). However, for a lower deposit I was willing to open one with Capital One to start forming a relationship with them.

HOWEVER, I've been checking their pre-qualification thing for weeks because WalletHub told me I had a good chance of being approved for a non-secured card and it kept saying I had an existing application. Well, today it let me do the pre-qualification. I was hoping to see one for Platinum or QS, but it was just another secured pre-qualification. Bummer. But I thought, "Hey, my credit has improved considerably since my last app, so maybe they will ask for less than $200."

NOPE.

Even though my scores are now higher than my husbands were when they asked him for $99 for his deposit, they still want $200 from me. Grrrrr.

I really think I may just give up on Capital One permanently. Now I have YET ANOTHER hard pull on my credit report for absolutely nothing, AND I won't be able to apply for anything from Capital One until October now. I was so sure I would get at least a $99 offer this time since my scores are better than my husband's were when he got that offer. Why, Capital One? WHY?
You can only apply for Cap1 cards every 6 months, probably why 3rd time was denied. Dont go by any of these websites and the chances you have for any CC. CK says I have a good chance for an AMEX card. Yeah right. I'm a BK'er. Go straight to Cap1's Prequal page and see directly what they have to offer you. Not a pass thru link. JMO. GL.
Is this a new rule? I seem to recall applying for 2 in about 6 days.(and being approved!). I agree with the rest of your post though! Capital One has been an amazing tool in my rebuild, and I am extremely grateful for them! (I learned the hard way that Barclays was not the same way about approving a 2nd card, lol). It's funny the things we can laugh about now that hurt a bit at the time.

Cap 1 closed this loophole several months ago.

Re: Hating Capital One

Anonymous — Sat, 22 Jul 2017 08:13:59 GMT

Every loophole gets closed not long before I find out about it, LOL

But yes, I'm going into garden mode just until I can get my scores up to over 600 and bring my util down a little more and then I'm gong to try for NFCU one more time. Then I'll be in garden mode for at least a year more than likely.

Re: Hating Capital One

FireMedic1 — Sat, 22 Jul 2017 09:25:50 GMT

@Anonymous wrote:
Every loophole gets closed not long before I find out about it, LOL

But yes, I'm going into garden mode just until I can get my scores up to over 600 and bring my util down a little more and then I'm gong to try for NFCU one more time. Then I'll be in garden mode for at least a year more than likely.

Good idea. 11/15 I had the same scores as you rigfht after BK. It takes time and discipline and you will be rewarded. When I hit 650's. Yes! 700's came. Awesome! Look below now. 20 months later 730-740. One at a time and spread out. Let those cards age. PIF all cards except 1. I haven't paid 1 cent in interest. Hundreds sitting in rewards and sign up bonuses. Like they say. Its not a race. You'll get there. Trust me. These guys know what thery're saying. See ya in the garden......

Re: Hating Capital One

Anonymous — Sat, 22 Jul 2017 14:45:07 GMT

I wish I'd said this earlier in the thread, but in response to the thread title, there is too much hate on here. I'm hoping we can all eventually help foster an environment instead of love and forgiveness, even to those who wrong us. In regards to that latter part, Cap 1 never struck me as one of the credit bullies, if you know what I mean. They remind me more of the Shaft theme song: https://www.youtube.com/watch?v=nFvRvSxsW-I

Re: Hating Capital One

AverageJoesCredit — Sat, 22 Jul 2017 15:51:48 GMT

Actually good post Captain J , moments before reading your post i saw headline and in my quirky way of thinking imagined it to read i heart cap one lol. I agree with you though, if one finds that a certain lender doesnt suit them or is not meshing well, just move on to the next, at least we have some options in this credit game

Re: Hating Capital One

Anonymous — Sat, 22 Jul 2017 15:54:23 GMT

But in fairness, Capital One is one of the better subprime card issuers. And they are one of the only ones that will give a card to people with very low scores without charging $75 or more as an annual fee. Kind of hard to move on with that without just waiting for a much better score.

Re: Hating Capital One

Anonymous — Sat, 22 Jul 2017 18:07:30 GMT

@Anonymous wrote:
But in fairness, Capital One is one of the better subprime card issuers. And they are one of the only ones that will give a card to people with very low scores without charging $75 or more as an annual fee. Kind of hard to move on with that without just waiting for a much better score.

I was being playful in my post, although a bit serious too. I agree with you! I get that people can have problems with any lender, but these guys are maybe THE best for giving people a shot at glory when they are down in a hole. Theyre currently my highest non-store card(thanks to a combination....another thing that makes them awesome...how many lenders let you do something like that? Especially with no human interaction? I find that STELLAR!!).

I was just messing about the title, maybe I should go back and read the OP again so I can remember what the bitterness is about, but for now I want so share the message of forgiveness, and repairing relationships, including with Capital One, who has been awesome to me(along with the also maligned Synchrony). I dont wish to become a martyr for sharing the Good word, so maybe I can add some bitterness later if I think hard enough,

Cap One has been like a cool uncle(that lets you drink) to me.