topic Re: Capital One in Credit Cards

Capital One

hawkins — Thu, 16 Aug 2018 19:48:26 GMT

Was just thinking about C1 and if they are really any use to me anymore. I have a QS which is a decent card but with a low $500 limit on it. My daily driver is PenFed Power Cash now followed my my USAA visa that by all measures is pretty much the same card as the QS but with 6 times the limit. I don’t know other then some subs I put on it to show some activity. The QS simply does not grow very fast. I have been looking at all their other cards in depth and have decided they just don’t have enough anymore that interests me. I used to think the Venture was exciting but am turned off by the $95 AF and the Venture One well forget about it. Savor card I thought might be ok but then C1 had to add an AF to that as well. And no I am not interested in the new Savor One. I don’t know the only thing the QS has going for it is no AF. I will see what happens when my year mark hits. Otherwise I am leaning on closing it. Sorry C1 I just lost interest in you. Now if you make the QS into a 2% card or 2.5% (WILL NEVER HAPPEN LOL!) then we can definitely continue our relationship. Otherwise I guess time to move on.

Re: Capital One

FinStar — Thu, 16 Aug 2018 19:55:13 GMT

And sometimes that happens, right?

The bottom line is you will eventually evaluate when a product is no longer a good fit, which could be the limited capacity to use it depending on your spending habits, nerfing, discontinued features, etc., especially if you have other products that are comparable or more flexible.

I'd say evaluate to see if a CLI is in order. Did you obtain the QS as part of an early build or rebuild?

Re: Capital One

hawkins — Thu, 16 Aug 2018 20:06:22 GMT

Was part of a re-build. I kind of feel disloyal by thinking of dumping them when they gave me a good start. But I don’t like having cards laying around with no real use for me.

Re: Capital One

rbentley — Thu, 16 Aug 2018 20:17:45 GMT

Cap 1 is not your BFF and really doesn't care about your loyalty. You are merely a financial transaction to them. They lent you credit because it made financial sense to them and they have profited by you using their card. They would not hesitate to shut you down or do a CLD the minute they felt insecure. They will make no attempt to retain your business.

I am not saying to not be grateful to them for helping you rebuild, but that is their business model. They don't deserve or value your loyalty as their stingy CLI's show. I am not hating on Cap 1. They have their value and purpose. When they are no longer of value, move on.

Re: Capital One

Anonymous — Thu, 16 Aug 2018 20:28:26 GMT

This applies to 99.99 of lenders, if not all. Admittedly, some more than others are quicker to pull the trigger.

@rbentley wrote:
Cap 1 is not your BFF and really doesn't care about your loyalty. You are merely a financial transaction to them. They lent you credit because it made financial sense to them and they have profited by you using their card. They would not hesitate to shut you down or do a CLD the minute they felt insecure. They will make no attempt to retain your business.

Re: Capital One

FireMedic1 — Thu, 16 Aug 2018 22:22:44 GMT

That QS started out as a Plat and upgraded yes?

Re: Capital One

Soelden — Thu, 16 Aug 2018 23:05:38 GMT

My QS has also been bucketed. Started as a secured Platinum and has never grown since upgrading to QS. Despite heavy usage always paid off before the statement, every CLI has been denied. I guess its just alway going to be considered a high risk account. Ive since moved on to credit cards with more generous CLs. Just add some subscriptions, sock drawer it, and move on. It did its job and will still be good for your average credit age.

Re: Capital One

Shooting-For-800 — Thu, 16 Aug 2018 23:15:26 GMT

Savor and Venture have a $500 bonus. That is over 6 years worth of AFs to see if you are happy.

Re: Capital One

hawkins — Fri, 17 Aug 2018 03:43:44 GMT

Yes that’s right.

Re: Capital One

Anonymous — Fri, 17 Aug 2018 04:30:40 GMT

@Shooting-For-800 wrote:
Savor and Venture have a $500 bonus. That is over 6 years worth of AFs to see if you are happy.

800, I know you love CapOne but that's not how it works, it's like saying Chase gives you $500 SUB for their deposit accounts, that's 2 years of lost interest to see if you're happy. Once you've grabbed the SUB it's yours to keep and should have no bearing in determining the viability of Savor on year 2 with $95 AF, same with whether Chase deposit accounts are worth keeping. Like many have already said, it's all just business transactions.

Re: Capital One

Shooting-For-800 — Fri, 17 Aug 2018 05:41:21 GMT

I think it is more than reasonable to include a SUB when comparing to a no AF card with no or lower SUB.

Money is money. Out of pocket costs means the difference between what you receive and what you pay.

Re: Capital One

Anonymous — Fri, 17 Aug 2018 06:09:13 GMT

@Shooting-For-800 wrote:
I think it is more than reasonable to include a SUB when comparing to a no AF card with no or lower SUB.

Money is money. Out of pocket costs means the difference between what you receive and what you pay.

But that's a false choice because they aren't mutually exclusive, you can both grab the SUB as well as not be constrained to paying the AF by downgrade to non-AF Savor One, combine it to another non-AF CO card (like a grandfathered Savor), or just close it and move your spending to your other cards that would net higher rewards, if one feels their spending does not justify the $95 AF. Like you said, money is money, the SUB is indeed unusually good for a cash back card, weather it's worth keeping with AF in the 2nd year is probably debatable at best.

Re: Capital One

staticvoidmain — Fri, 17 Aug 2018 06:29:03 GMT

I've had tsimilar experience today with Cap1. I was trying to get my QS recon'ed for the stupid CLI denial reason they gave me (long story), or even getting it PC'ed to Savor. I was told to apply for a new card.... like I am adding another card if they couldn't even address my issue with my current card. Shame, I even bank with them with their 360 as my default, because I'm such a loyal customer. First time it happened, I replaced it with the PayPal cashback as my daily driver. Today, I applied for the Uber card instead (under verification).

Re: Capital One

hawkins — Fri, 17 Aug 2018 07:17:12 GMT

Well here’s hoping you get the Uber card. I hear it’s a great card to have. I tried for it but was denied for too many new accounts usual for Barclays stuff. Gonna try again late next year and see what happens.

Re: Capital One

hawkins — Fri, 17 Aug 2018 07:41:15 GMT

I should also warn you that Barclays is an extremely skittish lender to say the least. So if you do get approved be prepared at anytime to get a CLD. Barclays is like that. A fantastic card like the Uber card being issued by Barclays just does it no justice.

Re: Capital One

LunaBuna — Fri, 17 Aug 2018 13:27:46 GMT

@rbentley wrote:
Cap 1 is not your BFF and really doesn't care about your loyalty. You are merely a financial transaction to them. They lent you credit because it made financial sense to them and they have profited by you using their card. They would not hesitate to shut you down or do a CLD the minute they felt insecure. They will make no attempt to retain your business.

I am not saying to not be grateful to them for helping you rebuild, but that is their business model. They don't deserve or value your loyalty as their stingy CLI's show. I am not hating on Cap 1. They have their value and purpose. When they are no longer of value, move on.

This is pretty much every financial institution. Unless you are a huge depositor, they do not care.

Re: Capital One

Shooting-For-800 — Fri, 17 Aug 2018 16:06:33 GMT

@Anonymous wrote:
@Shooting-For-800 wrote:
I think it is more than reasonable to include a SUB when comparing to a no AF card with no or lower SUB.

Money is money. Out of pocket costs means the difference between what you receive and what you pay.
But that's a false choice because they aren't mutually exclusive, you can both grab the SUB as well as not be constrained to paying the AF by downgrade to non-AF Savor One, combine it to another non-AF CO card (like a grandfathered Savor), or just close it and move your spending to your other cards that would net higher rewards, if one feels their spending does not justify the $95 AF. Like you said, money is money, the SUB is indeed unusually good for a cash back card, weather it's worth keeping with AF in the 2nd year is probably debatable at best.

I personally do not see the value of the Savor with AF versus the SavorOne without AF but I do not spend a lot on dining out and entertainment. I think the Savor should bump up groceries to 3% or 4% and the SavorOne should not. That would make a lot more sense for the AF difference.

However, I would take a $500 SUB with $95 AF and higher rewards over a $0 SUB with no AF and lower rewards.

There is a reason there are hundreds of different credit cards. Different people think differently.

Re: Capital One

Anonymous — Fri, 05 Oct 2018 23:21:46 GMT

I agree. The customer service is HORRIBLE!! I have had a simple card with them since 2008. I have asked several times for a credit line increase and they tell me NO. Pardon me, Transunion score=811 Equifax 803. Credit line with them is 2000. The lowest card I have. I only keep it for the established credit. The exuse I get when I ask, that account is not up for credit line increase. **bleep**? I never use it so that is why I am sure. They do suck

Re: Capital One

Shooting-For-800 — Sat, 06 Oct 2018 16:24:19 GMT

@Anonymous wrote:
I agree. The customer service is HORRIBLE!! I have had a simple card with them since 2008. I have asked several times for a credit line increase and they tell me NO. Pardon me, Transunion score=811 Equifax 803. Credit line with them is 2000. The lowest card I have. I only keep it for the established credit. The exuse I get when I ask, that account is not up for credit line increase. **bleep**? I never use it so that is why I am sure. They do suck

What was your credit score when you opened the card?

Why would they give you more credit if you do not ever use the credit they gave you?

You are costing them more money than they make off of your account.

Re: Capital One

Anonymous — Sat, 06 Oct 2018 20:08:08 GMT

Capital One has an advantage for those that a) Like Peet's (a lot) and b) are near a Capital One cafe. The 50% off can certainly add up, with a no AF card you use just for this purpose (then you don't need to worry about CLI unless your spend is VERY big, and in that case, the discount is worth poor service!)