topic Re: Cap one you are out of here in Credit Cards

Cap one you are out of here

Jnbmom — Thu, 26 Apr 2018 17:59:50 GMT

After trimming the herd I decided to close my 2 cap one cards. They would not let me combine so I decided they have helped me build up and it's time to say goodbye.

Once again didn't even try to convince me to stay with them.

Re: Cap one you are gotta here

Anonymous — Fri, 27 Apr 2018 04:05:13 GMT

They couldn't care less that you closed them.

Re: Cap one you are gotta here

K-in-Boston — Thu, 26 Apr 2018 18:22:13 GMT

feelsgoodman.jpg

Did the same on my last remaining CapOne card this month and it felt good. 20+ years of no CLIs and high APRs. Parting with DW's is a little more difficult, though. Staying in the sock drawer for now.

Re: Cap one you are out of here

EvilR-T — Thu, 26 Apr 2018 22:35:57 GMT

Good for you! I bet it feels great. I can't stand cap one. I would close mine if it weren't my oldest at 15 years. It was a discover direct rewards rebuilder before it became a cap1 platinum rewards pos.

Re: Cap one you are out of here

Anonymous — Thu, 26 Apr 2018 23:31:57 GMT

Everybody can't stand Capital One.

You didn't hate them when they said "Congratulations" and everyone else said "DECLINED".

Re: Cap one you are out of here

Jnbmom — Thu, 26 Apr 2018 23:34:29 GMT

I don't hate them. I am thankful to them for giving me a start. I have built since then and now it's time to move on.

Re: Cap one you are out of here

AverageJoesCredit — Thu, 26 Apr 2018 23:40:26 GMT

Congrats Mom

Lol, Donny's got a point. If ever there was more or less a prime lender , in this I say at least of the big names, Cap One seems like the #1 stop to start rebuilding. I would just use them for their intended purpose build your credit and either continue or move on. We know the banks won't lose a wink of sleep on us closing up our accounts. The csrs get paid either way and the banks will make their money through rain or shine.

Re: Cap one you are out of here

Jnbmom — Thu, 26 Apr 2018 23:42:36 GMT

And that's exactly what I did. Never claimed to "hate" them.

Re: Cap one you are gotta here

Anonymous — Fri, 27 Apr 2018 00:05:22 GMT

@Anonymous wrote:
They could care less that you closed them.

I would argue that they couldn't care less.

Re: Cap one you are gotta here

K-in-Boston — Fri, 27 Apr 2018 01:00:24 GMT

CapOne wasn’t close to my first card. I’ve had like 6 over the years, but 4 of those were from other lenders they acquired years later. The card I just closed was my “newest” from 2004, a $5k+ card they bought out years ago and jacked my interest rate up on.

Re: Cap one you are gotta here

Anonymous — Fri, 27 Apr 2018 01:25:19 GMT

I’m not gonna get rid of my Cap1 card cuz it’s my oldest card in my rebuilding stages but I’m definitely gonna fall back from them.

Re: Cap one you are gotta here

Anonymous — Fri, 27 Apr 2018 04:05:49 GMT

@Anonymous wrote:
@Anonymous wrote:
They could care less that you closed them.
I would argue that they couldn't care less.

Feel better?

Re: Cap one you are gotta here

Gmood1 — Fri, 27 Apr 2018 04:09:32 GMT

Congrats OP, I'll keep holding on to mine for now and probably till they cut me loose. Being it's my oldest CC and also highest CL. It will continue to ride the bench in my wallet with a $3 monthly recurring charge.😂
The 2% and higher cards have made it nearly obsolete. It's not alone on the oak bench though. As NFCU cash rewards, NASA FCU cash rewards, FNBO Amex and BBVA Amex are all 3rd string players here.😆

Re: Cap one you are out of here

Anonymous — Fri, 27 Apr 2018 04:10:23 GMT

@Jnbmom wrote:
I don't hate them. I am thankful to them for giving me a start. I have built since then and now it's time to move on.

Post wasn't directed at anyone in particular. Just an observation I see frequently. When I drink from the well, I remember who dug it. It's my opinion, no one else has to agree. PERIOD....lol...

Re: Cap one you are out of here

Anonymous — Fri, 27 Apr 2018 04:26:39 GMT

They were my first card. I will always appreciate them for inviting & accepting me into the world of credit. 14mos later, they are by far my lowest CL & lowest CLI. I will probably keep QS, but it's only 6mo older than BCE... so at some point it's age won't matter.

Re: Cap one you are out of here

pipeguy — Fri, 27 Apr 2018 04:46:40 GMT

I will say that the wife and I have closed all of our Cap-1 cards, we grew they didn't. That being said, Cap-1 is a moody critter on Fico forums, if you look back 5-6 years ago and read the various posts you'll see them referred to as "Crap-1" a lot, then maybe 3 years ago Cap-1 started giving out mega SL's to many posters and they became the "favorite son" around here.

Having read card issuer and default rates as of late (2017-18), Cap-1 is in the top 3 on both stats (number of cards issues and highest default rate). So it seems now, from later 2017 and so far 2018, Cap-1 is pretty much a "yawn" with some liking them and some don't (I don't) because of their lending policies, higher APR's and failure to launch with improving card holders.

Personally, I think Barclays is a better issuer, but I know Barclays has a lot of haters around here - I guess its just how you perceive the relationship.

Re: Cap one you are out of here

joltdude — Sat, 28 Apr 2018 01:03:46 GMT

Cap One is still primarily a better, go-to rebuilder card..... but they are easily outgrown by most... Part of it is due to the "bucket" they put you in.. and you grow out of but they dont move you up.... its also how they pad their numbers to look better to investors... and its why they do 3 HPS... they want folks to go.. no i dont want the pulls and stick with what they have longer than they need to or should... it basically holds better tiered customers in the dirty rebuilder buckets... They want to make it harder to climb up with the 3 HPs....

Cap One is like Kleenex, you use them, and then you throw it away..... Yes its great they give folks a chance. but they also are using you and holding you back as well.. You do not owe any loyalty or allegence to a bank, because they do not hold any loyalty to you...

You should NEVER feel guilt about closing a card if it no longer fits.....

-J

Re: Cap one you are out of here

Anonymous — Sat, 28 Apr 2018 22:24:32 GMT

I want to close my account with them so bad but it's my oldest card. I've had the card for 7 years and no cli or anything of the sort. I'm over them.

Re: Cap one you are out of here

Jnbmom — Sat, 28 Apr 2018 22:26:55 GMT

Darn 7 years and no CLI?? Man that's terrible. Did it start out as secured or was it just a low limit to start with?

Re: Cap one you are out of here

Anonymous — Sat, 28 Apr 2018 22:28:01 GMT

@Anonymous wrote:
I want to close my account with them so bad but it's my oldest card. I've had the card for 7 years and no cli or anything of the sort. I'm over them.

What' your next oldest?