topic Re: Capital One in Credit Cards

Capital One

Anonymous — Mon, 24 Jun 2019 15:04:27 GMT

They are a big joke, I called to cancel my secured card that’s been open 5 years with perfect payment history, they never graduated the card, and today they never once offered anything to keep the account open, I will never give them my business again, I will use my discover and my Amex cards ( 2 cards ) as my daily’s, keep my new BoA as backup, I have 2 other cap 1 cards ( qs and qs1 ) and I will be working on paying those off this week and closing those as well! Bye bye cap1, your no longer in this wallet!

Re: Capital One

Anonymous — Mon, 24 Jun 2019 15:54:05 GMT

Cap1 needs some change at the corp HQ. Bad reward and stringint approval.

Only cap1 card I have was an old handover from my previous issuer they bought. And they rejected my savor app (7AAoA, 5INQ, no baddies, 780 FICO).

Re: Capital One

Anonymous — Mon, 24 Jun 2019 16:07:30 GMT

Yea they are the bottom of the barrel when it comes to cards, I’m thankful that they gave me my first chance at a credit care but 5 years of perfect payment history and no lates or baddies, my income has increased significantly each year for 5 years, from $65,000 to $130,000, that’s why I was approved with Amex and BoA, and also discover! I will gladly take cap 1 out of my wallet, I’m pretty sure my other 2 cards are bucketed anyway so no need to keep jacking around with them when my other cards will grow quickly

Re: Capital One

Shooting-For-800 — Mon, 24 Jun 2019 19:54:38 GMT

... I love Capital One and they love me ...

... YMMV ...

Re: Capital One

pinkandgrey — Mon, 24 Jun 2019 20:42:09 GMT

Good for you closing unnecessary cards. I realize that Cap One isn’t the BEST issuer out there, but some of the higher-tier cards like Savor and Venture can be excellent and give very healthy SLs. So it may not be necessary to swear off CapOne for all of eternity lol. Good luck on your credit-building and card closing!

Re: Capital One

chhull00 — Mon, 24 Jun 2019 22:50:19 GMT

I feel your pain guy, couldnt agree with you more, im thinking the same for me, whos in your wallet? not capital one

Re: Capital One

EdMan63 — Mon, 24 Jun 2019 23:20:03 GMT

Guess it all depends. My QS is one of my all time favorite cards. Very hassle free and gave me a great starting limit (10K). Now they did just deny me a CLI after instantly approving 2 over the last 3 years but I'm ok. Not that I really needed it. But do what's best for your needs.

Re: Capital One

Andypanda — Tue, 25 Jun 2019 00:06:00 GMT

My Cap 1 qs Was the first card to give ma cl over $10,000. Up to a werk ago it was my largest cl after 3 montgs they bumped me up from $3,00 to $12,500. The readon I don’t use it more now is that i am in my first year of my disco it card, so i get either 2% or 10% back. When i feel it is safe for me to app for citi dc i willl get rid of it. But when cap 1 definitely served a purpose fo me.

Re: Capital One

FireMedic1 — Tue, 25 Jun 2019 00:27:28 GMT

They suck so bad. They gave me my first card out of BK for 2000. Three months later 3000 for the QS1. Then came the Venture, QS, and finally the Savor. I closed out my starters and had a CL on all the cards of over 50K. I turned in a voluntary 16k to app for other cards. And now to this day I sit at 36k less than 4 yrs out of BK.

OP just like so many others. Without Cap1 they wouldnt be where they're at now. You got a secured for a reason 5 yrs ago. In case you missed it. They dont graduate secured any more for now. So did Cap1 help you begin? Yep.

Re: Capital One

Anonymous — Tue, 25 Jun 2019 02:43:25 GMT

Seems like there’s a Capital One hate thread every other day these days. I don’t really get it and it’s not my experience for sure. Honestly my favorite cards to use are my Capital One cards because of how quickly they award cash back with no hoops or asterisks anywhere and they’ve been very generous with me, it just took time.

Re: Capital One

gdale6 — Tue, 25 Jun 2019 03:28:37 GMT

@Anonymous wrote:
Yea they are the bottom of the barrel when it comes to cards, I’m thankful that they gave me my first chance at a credit care but 5 years of perfect payment history and no lates or baddies, my income has increased significantly each year for 5 years, from $65,000 to $130,000, that’s why I was approved with Amex and BoA, and also discover! I will gladly take cap 1 out of my wallet, I’m pretty sure my other 2 cards are bucketed anyway so no need to keep jacking around with them when my other cards will grow quickly

While that may be a factor it is not the deciding factor, there are those on these boards who are approved for these cards with under 30K income.

Re: Capital One

stonedog23 — Tue, 25 Jun 2019 04:34:47 GMT

Although my card is bucketed, I won’t close it, I’ll just let them close it for non use. It’s not hurting anything.

Re: Capital One

Andypanda — Tue, 25 Jun 2019 05:09:42 GMT

@gdale6 wrote:
@Anonymous wrote:
Yea they are the bottom of the barrel when it comes to cards, I’m thankful that they gave me my first chance at a credit care but 5 years of perfect payment history and no lates or baddies, my income has increased significantly each year for 5 years, from $65,000 to $130,000, that’s why I was approved with Amex and BoA, and also discover! I will gladly take cap 1 out of my wallet, I’m pretty sure my other 2 cards are bucketed anyway so no need to keep jacking around with them when my other cards will grow quickly
While that may be a factor it is not the deciding factor, there are those on these boards who are approved for these cards with under 30K income.

Income is a bigger factor when it comes to the cl, not if th fi issues the card or not.

Re: Capital One

Gollum — Tue, 25 Jun 2019 08:16:23 GMT

@Anonymous wrote:
They are a big joke, I called to cancel my secured card that’s been open 5 years with perfect payment history, they never graduated the card, and today they never once offered anything to keep the account open, I will never give them my business again, I will use my discover and my Amex cards ( 2 cards ) as my daily’s, keep my new BoA as backup, I have 2 other cap 1 cards ( qs and qs1 ) and I will be working on paying those off this week and closing those as well! Bye bye cap1, your no longer in this wallet!

Batwood1,

I am certainly not fond of Capital One, but just in case you have not read this before, apparently some (many? most?) Capital One starter credit cards will never graduate/improve:

https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-why-some-subprime/td-p/5083619

It may be possible to apply for and obtain a better credit card from Capital One even though a particular Capital One credit card is "bucketed."

Re: Capital One

Anonymous — Tue, 25 Jun 2019 18:32:27 GMT

If you're willing to waste 3 HPs for one card!

IMO, why bother when existing Amex customers can app without a HP?

I don't hate Cap1, but I also don't need them(anymore). They were fine with limited exposure. But when a person reaches a point and has several other higher limit cards. Yet Cap1 remains bucketed, or takes 20 years just to reach a decent limit. Then it's time for goodbyes.

I was at 5 times the CL of my Cap1 card with Amex and only within one year, now I'm at 20 time the Cap1 limit. So I closed.

If they can't upgrade their algorithms without a new app, I might as well app for a much better card/issuer.

A friend of mine also loves Cap1, it was his very first and has treated him alright. But he also doesn't play the rewards game nor even use CC that much.

Everyone certainly does have varying experiences with them for sure. I always assumed they were meant for starters or people with bruised credit, yet now they seem to be more stringent on certain profiles. And also offer higher tier CC.

Re: Capital One

Dalmus — Tue, 25 Jun 2019 19:04:56 GMT

I personally love my Venture and Savor (I'm grandfathered in, no AF for Savor and only $49 for Venture). That being said, since I've rebuilt my credit, there's nothing in their portfolio that would be worth 3 HPs to me.

That being said, they USED to give out credit increases like candy. They've really tightened up over the last two years though, and they no longer want to give you a credit increase if you're not actually using the credit limit you have now. And by using, that appears to mean putting 25-50% of your limit through in spend regularly. Remember about a year ago all the threads about how people had their $25K limits slashed to $15K or 10K?