topic Re: Fed up with Cap1 in Credit Cards

Fed up with Cap1

Journey — Thu, 26 Mar 2009 01:15:10 GMT

Hi all,

I opened a Cap1 Platinum acct in 9/07. After 3 on time pymts they gave me CLI. Since then, nothing. I requested twice last year and got so frustrated! I call today (did not request CLI, just wanted to know what kind of acct I have) and the man acknowledges that my pymt history/ acct history is spotless and tells me I am doing everything they expect. What???

Has anyone else had similar problems? He said I do not have the rebuilder card or "steps" card, yet my score was around 565 when I got it. Now I am at 646 and not eligible for CLI?

*sigh* I know that maybe I should show good pymt history for longer, but I know people who get multiple CLIs per year.

So, I am wondering...does anyone know which scores/ how high/ time frame for CLIs on Cap1?

Thanks!

Re: Fed up with Cap1

Creditaddict — Thu, 26 Mar 2009 01:21:15 GMT

sounds like it has done what it needed to do, move on to a better bank that wants to grow with you.

Bank of america is on the top of my list

Re: Fed up with Cap1

Journey — Thu, 26 Mar 2009 01:44:02 GMT

You are right...just took me a moment to come to my senses!

What do you think of Citi or Chase?

Re: Fed up with Cap1

Anonymous — Thu, 26 Mar 2009 07:00:40 GMT

I opened my card in 10/04, they increased my CL from $500 to $1,000 after a few months. Here I am 5 years & 137 CLI requests later (OK thats an exaggeration, but it's close) still $1,000. They call them CRAP1 for a reason babe, nothing they do makes sense. If they weren't my oldest TL, I would cancel them in a heartbeat!

Message Edited by boobsANDbrains on 03-26-2009 01:58 AM

Message Edited by boobsANDbrains on 03-26-2009 03:00 AM

Re: Fed up with Cap1

score_building — Thu, 26 Mar 2009 06:52:40 GMT

by order of preference:

credit unions

boa

citi

chase

@Journey wrote:
You are right...just took me a moment to come to my senses!
What do you think of Citi or Chase?

Re: Fed up with Cap1

Anonymous — Thu, 26 Mar 2009 17:46:33 GMT

I have had my original "starter" (what you called Crap1) card for almost 4 years. They raised my initial $500 limit to $1000. It is still at $1000 and my FICO's are now 800 plus.

The problem is not CLI, it is product type. You have a high risk starter card. As long as you do, you will be treated as such.

Even though I have a $1000 starter card, I recently app'ed for a high end Cap One Reward Card (Platinum Travel Reward Ultra for Professionals) which requires Excellent Credit and limits up to $30k and was approved. So, on the one hand, I have a starter card that hasn't gone anywhere, yet they approved me for a high end card that will grow.

Some people go for a "product change" and I am not sure if Cap One actually does this (even if they say they do). Some people report having received CLI over time from small limits to larger limits. But I believe they did not have a "Starter" account to begin with.

Example: The high end (requires execellent credit) Cap One card I just got can have an initial limit as low as $500 but can go as high as $30k. The starter cards have low end of $200-300 and max out at $3000 if they give that much to you, which is not likely. I mean, if an 800, no derog, perfect credit and 6 figure income and having 4 year history perfect payment with Cap One won't budge the limit, I think I have made my point on "product type."

Moral of the story: If you want higher limits with Cap One you will probably have to app for different care with them once you have your house of credit in order.

Message Edited by txjohn on 03-26-2009 10:46 AM

Re: Fed up with Cap1

Anonymous — Thu, 26 Mar 2009 17:10:06 GMT

Don't take it personally. They're not giving increases to their existing customers now. Look at the brightside, at least they don't go around and slashing CL's like AMEX.

Re: Fed up with Cap1

Journey — Fri, 27 Mar 2009 01:15:54 GMT

Thanks so much for the stories...that makes me feel better!

Maybe I will consider applying later...or maybe just go with my local CU.

Re: Fed up with Cap1

Anonymous — Mon, 30 Mar 2009 00:05:59 GMT

You really can't go wrong with a CU once you have begun to re-establish your credit and even to help re-establish. Alliant CU has been doing very well for many. But local is a good place too.