topic Re: Capital One Help in Credit Cards

Capital One Help

atst2000 — Sat, 28 Jan 2017 06:38:13 GMT

Howdy everyone,

So heres a quick run down of my situation with Capital One. Years ago (2011) I filed a CH 13 BK

along with my now ex-wife. It was just discharged in July of last year. I have been itching

to get in with Capital One and finally got approved and got whopping $300 SL.

A week before I was approved for a $32k Car loan with Cap One. I have paid on the card faithfully and in full

all the time. Fast forward to last week and they gave me a auto CLI

Wanna guess how much it was?! Drumroll please!!!!! $500!!! (I am being sarcastic if you havent noticed).

And of course they dont recon at all. It's hillarious to me theyll give me the keys to a new car, but screw me over

for a card with them. My scores are ok but not excellent. TU 660/EQ 647/EX 675.

What (if anything) can I do to actaully get some customer service from them?

Re: Capital One Help

ls2016 — Sat, 28 Jan 2017 06:51:36 GMT

Be patient..give it some time! I know...easily said than done! Best wishes!

Re: Capital One Help

UncleB — Sat, 28 Jan 2017 07:40:46 GMT

@atst2000 wrote:
Howdy everyone,

So heres a quick run down of my situation with Capital One. Years ago (2011) I filed a CH 13 BK
along with my now ex-wife. It was just discharged in July of last year. I have been itching
to get in with Capital One and finally got approved and got whopping $300 SL.

A week before I was approved for a $32k Car loan with Cap One. I have paid on the card faithfully and in full
all the time. Fast forward to last week and they gave me a auto CLI
Wanna guess how much it was?! Drumroll please!!!!! $500!!! (I am being sarcastic if you havent noticed).

And of course they dont recon at all. It's hillarious to me theyll give me the keys to a new car, but screw me over
for a card with them. My scores are ok but not excellent. TU 660/EQ 647/EX 675.

What (if anything) can I do to actaully get some customer service from them?

First of all, congrats on the new car and the progress youve made!

Unfortunately, Capital One is well-known around here for being fairly rigid with their CLI process, so it's unlikely you'll be able to find anybody able/willing to override the computer decision. You could always try the EO, but in general they won't be willing to act unless there's an exceptional reason (computer glitch, etc.). They aren't known to go against the computer just because someone asks them to.

At some point you might consider looking beyond Capital One, but for now I can say (from personal experience) that the account will grow, abeit at a slower rate than you might like (they will give CLIs every six months).

I started out with a card years ago also at $300; it was bought by Capital One when the credit line wasn't much higher than that and eventually it ended up at $4900. This did take years, though, and most of my other cards now have a higher credit line even though they are newer. I keep the card around because it's significantly older than my others, and it has a relatively low APR.

At some point you also might consider getting a second card with Capital One, since they now allow card limits to be combined (once a card is six months old). This is somewhat 'controversial' around here, though, since Capital One also does a 'triple pull' for new approvals, and many see this as being too much for a single new account. In any case, since you have a fairly fresh BK discharge I probably wouldn't apply for anything else with them without a pre-qual offer with a set APR.

Others on here will likely soon chime in with other good options; hopefully this is somewhat helpful. Good luck whatever you decide!

Re: Capital One Help

Gollum — Sat, 28 Jan 2017 10:53:00 GMT

@atst2000 wrote:
Howdy everyone,

So heres a quick run down of my situation with Capital One. Years ago (2011) I filed a CH 13 BK
along with my now ex-wife. It was just discharged in July of last year. I have been itching
to get in with Capital One and finally got approved and got whopping $300 SL.

A week before I was approved for a $32k Car loan with Cap One. I have paid on the card faithfully and in full
all the time. Fast forward to last week and they gave me a auto CLI
Wanna guess how much it was?! Drumroll please!!!!! $500!!! (I am being sarcastic if you havent noticed).

And of course they dont recon at all. It's hillarious to me theyll give me the keys to a new car, but screw me over
for a card with them. My scores are ok but not excellent. TU 660/EQ 647/EX 675.

What (if anything) can I do to actaully get some customer service from them?

A car loan is secured by the car. If the borrower stops making payments, the car can be repossessed by the lender, then resold to someone else.

A credit card is unsecured (not secured by a car, for example) debt, so there is more risk to the lender.

Re: Capital One Help

steelers1 — Sat, 28 Jan 2017 14:01:52 GMT

Apply for a new card and in 6 months combine them into one.

Sometimes their starter cards will stay starter cards. A new credit card should breathe new life into your Cap One's credit card woes.

Good Luck

Re: Capital One Help

SouthJamaica — Sat, 28 Jan 2017 14:22:10 GMT

@ls2016 wrote:
Be patient..give it some time! I know...easily said than done! Best wishes!

Re: Capital One Help

Anonymous — Sat, 28 Jan 2017 15:02:06 GMT

Agree with everyone else. I would like to add based on your starting credit limit, a $500 increase is awesome! They more than doubled your line.

Re: Capital One Help

Anonymous — Sat, 28 Jan 2017 16:13:38 GMT

Increase is still an increase. I would wait for your next increase and when that goes through apply for the regular Quicksilver. They might give it to you with the bonus, 0% intro etc. A powerful card good features in the hands of a rebuilder.

Re: Capital One Help

atst2000 — Sat, 28 Jan 2017 17:04:53 GMT

Thank you

Re: Capital One Help

DeeBee78 — Sat, 28 Jan 2017 19:15:50 GMT

"It's hillarious to me theyll give me the keys to a new car, but screw me over for a card with them."

Edit: OP says he didn't burn Capital One, so I've removed my comment.

Re: Capital One Help

Anonymous — Sat, 28 Jan 2017 17:27:45 GMT

@DeeBee78 wrote:
"It's hillarious to me theyll give me the keys to a new car, but screw me over for a card with them."

Screw YOU over? You're the one that burned them in a BK, and they're screwing you over? I'm used to entitled BK-er behaviors on this forum, but I think you've just set a new low.

I had to log right on to "like" your post. OP, Capital One does not owe you a credit line at all after your irresponsible borrowing behaviour. Be happy with what they gave you, study the concept of "secured" and "unsecured" lines and be patient.

Re: Capital One Help

UncleB — Sat, 28 Jan 2017 17:50:29 GMT

Although I agree that there's a sense of 'entitlement' on here at times, I do hesitate to judge people who have been through a bankruptcy on that fact alone.

There are many reasons for bankruptcy that don't involve being irresponsible; illness (either your own or a child/spouse), divorce, job loss, and other things out of one's control can lead to bankruptcy just as easy as being spendthrift... perhaps even easier since being a spendthrift can/should be easily avoidable.

Since the OP didn't mention including Capital One in his bankruptcy and it was a Chapter 13 (rather than Chapter 7) I'm especially hesitant to judge too harshly.

Re: Capital One Help

Anonymous — Sat, 28 Jan 2017 17:56:10 GMT

I know Uncle B I had to backspace a lot of stuff I almost posted as well. No one knows details, or why people make their decisions but after coming away from BK it's like they are on the winning team and given rockstar access to credit opportunity

Re: Capital One Help

MyLoFICO — Sat, 28 Jan 2017 18:41:07 GMT

You stand a better chance of putting biscuits back in a can than you do of getting them to give you a decent CLI. I have a QS1 that I combined with another QS1 last month to get a total limit of $4900 so I could payer bigger invoices with my business. I make 4500 payments a couple of times a month and I got a $250 inrease this past month.

A word to the wise, take what they gave you and handle it wisely. Show them you learned from your CH13. Then go with a better card once you have a little history. But by all means DO NOT rush this process. It will backfire on you so badly.

Re: Capital One Help

MyLoFICO — Sat, 28 Jan 2017 19:27:49 GMT

@DeeBee78 wrote:
"It's hillarious to me theyll give me the keys to a new car, but screw me over for a card with them."

Actually, I do not see in the OP that they burned C1 in the 13. Just that they wanted to get in with them. Unless I missed a post.

Edit: Gah! I did the same thing you did. lol Disregard.

Re: Capital One Help

Anonymous — Sat, 28 Jan 2017 18:47:53 GMT

The entitlement is on 90% of this forum....BK or not. There are complaints of not getting "what I think" I deserve all over this board.
As for BKrs having rock star credit after discharge .......please point me to the post. The most successful BK rebuilds have stemmed from patience and hard work. It did not happen over night.

Re: Capital One Help

atst2000 — Sat, 28 Jan 2017 19:06:08 GMT

Good lord I have never seen so many hateful negative judgemental reviews from people I dont even know.

I am 100% not entitled thank you. My now exwife ran up tremendous amounts of debt which forced

us to both file. Never burned Cap One either.

Seriously guys chill out, it's just a post lol

Re: Capital One Help

AverageJoesCredit — Sat, 28 Jan 2017 19:14:44 GMT

I had a bk no way do i feel entitled. Im paying for my mistakes, learning the right way to go about things but like UB says, too many tangibles on why one goes bk. Its easy to rip someone a new,-- but i find it best if nothing good can be said constructively, just dont mention it. . My ho for the day

Re: Capital One Help

gdale6 — Sat, 28 Jan 2017 19:32:29 GMT

Hi all,

Several posts have been removed from this thread as they did nothing to help the OP. All posting must be done in an FSR manner there is no other way, Please review our policies in posting and if one cannot post within the guidelines then they should not be posting at all. Thanks for understanding.

http://ficoforums.myfico.com/t5/Credit-Cards/Forum-Etiquette/td-p/2905196

Re: Capital One Help

Anonymous — Sat, 28 Jan 2017 19:32:37 GMT

Do I have $40k in credit less than year after discharging 20k in CC's? Yes. Do I feel entitled to any of it? No. Do I work hard to make the best of a bad situation? Yes. Am I a rockstar? Autographs available on request. (joking on that one - I don't do autographs)

Joking aside, and getting back on topic: Capital One responds best to high spend - the more you spend, the more you get. I can also recommend applying for a second card as a way to boost your lines. My experience is fully documented in the thread you will find linked in my siggy.

Peace, and Good Luck!