topic Re: capital one approve in Credit Cards

capital one approve

GIXXER — Sun, 29 Jul 2007 02:16:52 GMT

capital one approve me today do you think if i call and request a credit line increase would i get one.

Re: capital one approve

Anonymous — Sun, 29 Jul 2007 12:50:57 GMT

@GIXXER wrote:
capital one approve me today do you think if i call and request a credit line increase would i get one.

Uh... you can try but I highly doubt it. lol

Re: capital one approve

Anonymous — Sun, 29 Jul 2007 18:19:41 GMT

I've had my card for 4 years and I still have the same 2K cl I started with

Re: capital one approve

Anonymous — Sun, 29 Jul 2007 23:40:01 GMT

CrapOne doesn't report your credit limit anyway, so unless you actually need the borrowing power, I'd say it's pretty much worthless.

Re: capital one approve

Anonymous — Mon, 30 Jul 2007 01:07:51 GMT

i doubt that you will get a CL. I have been stuck at $500 for 5 years now. They refuse to give me one.

Re: capital one approve

Anonymous — Mon, 30 Jul 2007 01:17:20 GMT

@Anonymous wrote:
CrapOne doesn't report your credit limit anyway, so unless you actually need the borrowing power, I'd say it's pretty much worthless.

my high balance is 1943 my cl 2K so I get benefit for all but $7

Re: capital one approve

Anonymous — Mon, 30 Jul 2007 01:44:39 GMT

Question? What is the benefit of having a card or lines of credit that only report your high limit but not your actual credit limit? Aren't they hurting us in the long run because the fico system is assuming that our cards are maxed out?

Re: capital one approve

Anonymous — Tue, 31 Jul 2007 01:51:04 GMT

Bingo! Yes, if your balance is "near" (or more than 10% I guess) of the high credit limit, then yes, it hurts you. Imagine a card with a 7,000 limit, yet you only charged say, $500 CrapOne reports $500 as your "limit" and if you charge say, $400, they'll report that and your FICO score is affected. (of course, the amount of the effect depends on your other revolving debt as well)>

Re: capital one approve

Anonymous — Tue, 31 Jul 2007 02:18:47 GMT

call the "magic number" for an increase... 800-889-9939. It works

Re: capital one approve

Anonymous — Thu, 02 Aug 2007 04:41:05 GMT

capital one approve me today do you think if i call and request a credit line increase would i get one.

I got a letter in the mail telling me that I will get an automatic increase to $500 if I:

1. use the card in the first 90 days

2. Don't go over the credit limit

3. Make your first 3 monthly payments on time.

and it should show up by the 5th statement

Message Edited by candigrl on 08-01-2007 09:41 PM

Re: capital one approve

Anonymous — Thu, 02 Aug 2007 12:16:41 GMT

Careful with that automatic $500 increase, etc. and Capital One in general.

1) As stated above they have never reported limits to the agencies and yes this DOES hurt everyone's score - especially those responsible folks that never have come close to maxing out their limits since the only "limit" they report is high balance. They are FINALLY supposedly going to start doing what they should have been forced to do all along and report "real" limits by the end of this year.

2) Perhaps one reason they didn't report limits is because they have REALLY messed with limits. For example a huge promotion to get new customers in December 2006. Most were given a card with $3K limit and told if they used in 90 days they would get $500 increase in that limit. GUESS WHAT. The "retro" adjusted down 10's of thousands of these cardholder's limits with NO WRITTEN NOTICE, causing over limit fees and worse that they refused in many cases to reverse! Imagine getting a card, an agreement and a statement that say you have $3K or $3.5K limit, charging $1K and then getting a statement with an OVER LIMIT fee on it and in some cases that same statement STILL SAID limit of $3K. When thousands called they were just told that they should have never received $3K limit in the first place nor the $500 increase. THESE IDIOTS it seems did not bother to check credit on anyone until AFTER they used the card the first time and THEN decided going BACK what the limit would be.

3) Some then tried to pay in full the accounts but interest unlike other cards is charged even if balance is paid IN FULL before due date.

I would strongly suggest doing searches on the net re: Capital One over the last two years, lawsuits, consumer reports, fraud allegations and worse.

I was a card holder with them for 13 years. At 8 years into it they raised my fixed rate and told me the only way I could get a lower rate was to close that card and open a new one (hurting my score with new card). I did it once in 2002 and got a card with a FIXED RATE GUARANTEE forEVER as long as no default. NEVER defaulted and rate was 6.9% until I got a notice two days ago that it is going up 130% to 15.9% for NO REASON even though I have all 3 FICOS OVER 800!

What card is in MY wallet? NOT THIS ONE. They said they were losing too much money (check out the CEO's pay for the last four years) AND that although the initial offer and agreement AND company spokesperson re: lawsuits all said rate would not be increased on this card unless consumer did something wrong..early this year they decided they just HAD to raise them all and most doubled or even worse like mine.

After all I discovered about them re: lawsuits, improper marketing fraud, etc...I have learned to never get ANY credit card with ANY company until I do my research to see what their most recent reputation is. Capital One USED TO BE a decent CC company...no more! My opinion of course. Do your own research.

Re: capital one approve

Anonymous — Thu, 02 Aug 2007 13:16:29 GMT

They are easily the worst to have. They are actively looking to close accounts they don't like. AVOID THEM -- they will not be nice.

Re: capital one approve

VLGaffEsq — Thu, 02 Aug 2007 19:52:12 GMT

I would like to personally thank you for that phone number (different from the one on the back of our cards). One phone call raised my Platinum Visa $500 immediately to a credit limit of $4,600.00, with a three day review to raise my limit an additional 2 K. A second call for my Platinum MC raised that limit $500 immediately also, to a credit limit now of $1,350.00. These requests took less than 5 minutes each, and the service people couldn't have been nicer. Plus, I have a fixed rate on both these cards for 3 years at 4.9%! Granted I have been a loyal customer since 2001 (plus I just paid of a car loan with CapitalOne Auto earlier this year), but I have NOTHING but praise to give this company. They may not be the best credit card company out there today, but I personally do not think they are the worst by any means! As I've stated several times on this board, all you need to do to get around CapitalOne's failure to properly report your credit limit is simply take a cash advance near your limit and pay it off in full in one week...it's actually quite simple! Plus, this company has waived and refunded several service fees for me over the years, and my online payments post immediately, while others may take a couple days. I am proud to have both a CapitalOne Visa and MasterCard credit card in my wallet, and I have always and will continue to be a happy and loyal customer!

Re: capital one approve

Anonymous — Thu, 02 Aug 2007 21:55:06 GMT

Alrighty then...I called the "magic number". and still nothing...Rep says the computer tells her what she can offer. Stuck at these same miserable levels since 2003. No late pays..always more than the minimum....now all $0 balances...I just don't get it...As soon as I figure out how cancelling them will affect my scores (gotta get with Noah, Tuscani, TNWM), I am pretty sure these three cards are toast...Oh but she did put in to exclude me from the new and improved interest rate change....

Re: capital one approve

Anonymous — Fri, 03 Aug 2007 15:23:34 GMT

I called the magic number it's basically direct line to account specialist. I tried to explain why it's bad policy to base customers Account terms based on which card they have rather their personal performance. The way cap1 does things each card has set terms and your stuck with your card until you apply for another one. for instance say you get a approved for a credit builder type cards, You have for years never late, you keep a reasonably low balance no where near you CL. Then one day company the decides they to raise the rate on credit build cards,if they do like cap1 instead of contacting you and saying something like" We raising rates on all our credit builder cards such as yours, But after considering your excellent performance on the account over the years, We have decided to upgrade your account to one with more favorable terms, Thank you for being a valuable customer" They just stick it to you

Re: capital one approve

Anonymous — Sun, 05 Aug 2007 16:21:34 GMT

I wouldn't have a Capital One CC if it was the only way I could ever have a credit score. Their's is the only card I'd ever had until this year. Started out with a $500 CL about 10 years ago. I had some personal issues, couldn't make a couple of payments, card got cancelled and charged off. They refused to work with me. $500 turned into $1700 on my CR's. Not only that, it got sold a couple of times so the same account appeared multiple times on my CR's.

I just got a letter from them yesterday saying that at some point I was a customer and they really wanted me back. I'm sure they do - no doubt they'd immediately give me a card maxed out with that old balance. Thanks but no thanks! I don't trust them at all. That's one piece of mail I cherished shredding and sending to the trash.

Re: capital one approve

Anonymous — Sun, 05 Aug 2007 21:54:10 GMT

Capital One recently announced that it will be reporting credit limits to the CRAs.

http://www.washingtonpost.com/wp-dyn/content/article/2007/08/03/AR2007080300890_pf.html

Re: capital one approve

Anonymous — Tue, 07 Aug 2007 16:53:43 GMT

Thank you Doodah for the "magic number". My CA 1 card is the oldest card, and it had the lowest balance. Two years ago I requested a balance increase from the number on the card, and it was like pulling teeth!!! I used your info and received an increase today with ease!! In fact, I wanna take the woman out to on a date -- she was so nice. Thanks again . . .

Re: capital one approve

TKDALLSTAR — Fri, 07 Sep 2007 04:53:00 GMT

I too called the magic number, and they increased my limit by another $500! I am up to $1250 now! Thanks for that number!

Re: capital one approve

Anonymous — Fri, 07 Sep 2007 05:49:55 GMT

That reminds me I need to get a CLI out of them before they start reporting limits....

Will try the Magic number tomorrow-
One opened in 2000 the other 2005

I have been considering dropping the 2005 one or asking them to combine.

One of them should be reporting with a credit this week curious what FICO will do with that - A zero perhaps?\

FICO has been beating me up for "too many accts with balances" at 10 right now- then 9 , 8 , 7 to see where I get the best score-