topic Re: Capital One Cash Rewards, was planning balance transfer in Credit Cards

Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 02:42:33 GMT

I applied for the capital one cash rewards card because I wanted to transfer a $3k balance from a higher apr card. After sending in verification of SS# and address, I've had them tell me I'm approved. First person said they didn't know my credit limit but it would be between 3 and 7k, called back to ask about 100$ bonus and the rep said credit limit between 3k and $4,999. I called today and they told me the line is 3k. Not too helpful in the balance transfer department. Apparently I am getting the platinum MasterCard version instead of world? They still don't have the interest rate for me either. Obviously I'm not going to transfer 3k onto 3k card. I'm a little upset about the line of credit being lower than I expected/hoped for. Would it hurt to just close the account before using it and save the hassle of another (new) account that will bring down my AAoA? They also inquired on all three credit bureaus. Customer service seems totally out there? Any feedback?

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 02:47:18 GMT

@Anonymous wrote:
I applied for the capital one cash rewards card because I wanted to transfer a $3k balance from a higher apr card. After sending in verification of SS# and address, I've had them tell me I'm approved. First person said they didn't know my credit limit but it would be between 3 and 7k, called back to ask about 100$ bonus and the rep said credit limit between 3k and $4,999. I called today and they told me the line is 3k. Not too helpful in the balance transfer department. Apparently I am getting the platinum MasterCard version instead of world? They still don't have the interest rate for me either. Obviously I'm not going to transfer 3k onto 3k card. I'm a little upset about the line of credit being lower than I expected/hoped for. Would it hurt to just close the account before using it and save the hassle of another (new) account that will bring down my AAoA? They also inquired on all three credit bureaus. Customer service seems totally out there? Any feedback?

Worlds begin at 5K. This will lower your AAoA due to it being a new account. Not sure how much as more details are needed. Customer service, at least for me, has been the worst of any company from any card I have had.

I had an unknown charge of 200 appear and a credit appear the next day. I called and got no help about this mysterious charge. It cleared with the credit so I didnt owe anything. Then the next day it repeated. They kept charging 200 and crediting it back. Online chats just left me more confused than before I began the chat. If you never need to call them then you should be fine.

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 02:52:11 GMT

Maybe it's better because I read that the worlds don't report a limit, although my bank of America world MasterCard does report a limit. If I cancel the card without ever using it will the account be reported to the credit bureaus?

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 02:58:59 GMT

@Anonymous wrote:
Maybe it's better because I read that the worlds don't report a limit, although my bank of America world MasterCard does report a limit. If I cancel the card without ever using it will the account be reported to the credit bureaus?

Both sapphire prefered and JP Select report their limits on my reports also. It will still report even if you cancel. The card doesnt even have to be activated.

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 03:02:24 GMT

FloridaGator.....you are now my sworn enemy.

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 03:15:35 GMT

Haha I I'm a Seminole fan 'cept when they play the gators... So I guess I should wait until i receive the card/terms and maybe call then and explain what I wanted to do and why 3k isn't enough for me? Think that would potentially help?

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 03:17:56 GMT

I suppose any damage per se is done then... Guess I'll wait and see? What would you recommend?

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 03:23:07 GMT

@Anonymous wrote:
I suppose any damage per se is done then... Guess I'll wait and see? What would you recommend?

I doubt cap one will increase the limit. You have a better chance of being struck by an airplane while on the ground. You could use it ever now and then. The limit will help decrease existing uti. After awhile you may be able to request a PC to a sig/world card. In the mean time you could garden it. Putting gum or gas on it every 3-6 months will keep it active.

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 03:37:30 GMT

The thing that gets me was the range of 3k-7k, then 3k-4,999, and now firm 3k. I've never heard of such a process during a card application. Always has been approved, CL xxxx. Strange huh. Thanks for the advice :-)

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 03:38:20 GMT

Re: Capital One Cash Rewards, was planning balance transfer

Anonymous — Wed, 29 Feb 2012 03:40:35 GMT

@Anonymous wrote:
The thing that gets me was the range of 3k-7k, then 3k-4,999, and now firm 3k. I've never heard of such a process during a card application. Always has been approved, CL xxxx. Strange huh. Thanks for the advice, it's appreciated :-)

Your a lucky one. Apparently Amex's highest charge card gets you no where with cap one in terms of responsibility as they wont give me anything higher than 750. Thats 1 of the reasons im replacing them.