topic Re: Is it time to drop my sub-prime cards? in Credit Cards

Is it time to drop my sub-prime cards?

lawless05 — Tue, 15 Jan 2013 17:51:12 GMT

So at the start of my rebulit i had a CAP ONE card with 750 limit(6 year old account) and in FEB 2012 i got a USAA secured card with 750 limit. After a almost a year in the garden i have apply and got approved for the following cards all in the same month JAN2013:

BoA Travel Rewards 1500CL

Chase Sapphire 5000CL

Chase Freedom 1000CL for BT from CAP ONE

Navy Fed Cash Reward 5000CL

Now i feel that i can drop my sub-prime card and start to help my wife rebuit with the funds from my secured card to get her a secured card that will graduate. Is this a wise lookout or should i move on from my USAA that will never graduate and CAP ONE card? Try for a PC on the CAP ONE? HELP

Re: Is it time to drop my sub-prime cards?

chnceit — Tue, 15 Jan 2013 18:05:17 GMT

Congtrats on your credit journey! Call Cap One and see if they would give you a CLI or PC, I have heard many success stories with Cap One lately on here.

Re: Is it time to drop my sub-prime cards?

webhopper — Tue, 15 Jan 2013 18:09:48 GMT

You might push Cap 1 for a PC to the Cash Rewards card, and a CLI to 3k...

I would close USAA as long as you are 100% positive that it will never unsecure

Re: Is it time to drop my sub-prime cards?

lawless05 — Tue, 15 Jan 2013 18:23:30 GMT

I'm 100% that the USAA will never be unsecured i called this weekend to triple check. Im scared to try a PC with CAP ONE now that i have 4 IQR on my EX report. and i have been reading that they like to pull all 3! im suppose to be in the garden anyways now so i might just wait till SEP. depending on if its a HP which i'm sure that it is.

Re: Is it time to drop my sub-prime cards?

chnceit — Tue, 15 Jan 2013 18:29:25 GMT

You would just need to call Cap One and ask if your account is eligible. It usually doenst involve a HP

Re: Is it time to drop my sub-prime cards?

nicholasyud — Tue, 15 Jan 2013 18:31:11 GMT

callbackdoor number it's can be done without HP

Re: Is it time to drop my sub-prime cards?

Anonymous — Tue, 15 Jan 2013 18:31:12 GMT

@chnceit wrote:
You would just need to call Cap One and ask if your account is eligible. It usually doenst involve a HP

+1. I just did a PC with Cap1 and there was no HP.

Re: Is it time to drop my sub-prime cards?

Creditaddict — Tue, 15 Jan 2013 18:42:58 GMT

I would contact Capital One via the President E-mail... Private me and I can provide.

Tell them you have been with them long time and they have now become Sub-Prime in your current bank/cards profile. You want an upgrade to the new Cash Card which is 1% with 50% bonus on what you earned during the year. You will also need a Credit Line Increase to $10k and you want this done with no HP (Which they already know.) They will call VERY quickly and they will ask permission to do a credit inq (SP and they can confirm SP) they will ask about income and go over what you ask for and then ask if they can't meet the Credit Line requested amount would you take less and just answer yes. they will call back usually within hours if not within 24 hours usually....

My partner got interest rate from 17.99 down to 13.49% apparently what it was years ago when he got it. Then upgraded to the new cash with the 50% bonus (Venture was offered but it's really not that great especially for us... I want CASH!) and then finally he asked for $25k to match Navy and they came back with $15k which falls in line with Amex and Wells Fargo Credit Line...

Re: Is it time to drop my sub-prime cards?

Jutz — Tue, 15 Jan 2013 18:54:51 GMT

Worst case you can exec office your Cap1 and get a CLI with cash rewards added. Externally it will still be a platinum card, but internally it will look like a cash rewards card. It doesn't create a new tradeline, and no HP. You'd have no problem getting $3k+. I got $2k with questionable credit history and no other card over 1k.

Re: Is it time to drop my sub-prime cards?

lawless05 — Tue, 15 Jan 2013 18:55:22 GMT

Thanks for all the advise I'm going to give this CP with cap one a shot. And yes credit addict please pm the email!

Re: Is it time to drop my sub-prime cards?

lawless05 — Tue, 15 Jan 2013 18:59:23 GMT

I'll u all posted on my results

Re: Is it time to drop my sub-prime cards?

lawless05 — Tue, 15 Jan 2013 19:43:34 GMT

I just called twice. The first time to see about a PC denied! Then to possible see if they could lower my Apr or give me a CLI both denied. I hate capital one anyways but if someone PMs me the email I'll give that a go else when I get my new slate card this company is dead to me.

Re: Is it time to drop my sub-prime cards?

lawless05 — Wed, 16 Jan 2013 22:04:26 GMT

Ok so this is the letter i sent to the CEO email last night. I have yet to get a reply. Was i too nice or should have included more detail on my account?

I have had my card with your company for almost 7 years with the same limit of 750. I have asked for increases of limit and been denied at every turn. I have asked for a decrease in APR(currently at 22%) and been denied plus I still have to pay annual fees. When you look at my account you see a lot of activity but i'm alway close to my max credit line but have never been late. I have greatly improved my credit profile since getting this card and think that i should be able to get something in return for being a great customer. I was about to close the card out when a friend told me to email the company and see what i get in return. I hope to keep doing business with Capital One but i feel if this is not fix in some way I will move on to other companies that currently giving me higher limits and lower ARP. Thank you for you time looking into the matter.

Thanks for any feedback.

Re: Is it time to drop my sub-prime cards?

Creditaddict — Wed, 16 Jan 2013 23:33:16 GMT

@lawless05 wrote:
Ok so this is the letter i sent to the CEO email last night. I have yet to get a reply. Was i too nice or should have included more detail on my account?

I have had my card with your company for almost 7 years with the same limit of 750. I have asked for increases of limit and been denied at every turn. I have asked for a decrease in APR(currently at 22%) and been denied plus I still have to pay annual fees. When you look at my account you see a lot of activity but i'm alway close to my max credit line but have never been late. I have greatly improved my credit profile since getting this card and think that i should be able to get something in return for being a great customer. I was about to close the card out when a friend told me to email the company and see what i get in return. I hope to keep doing business with Capital One but i feel if this is not fix in some way I will move on to other companies that currently giving me higher limits and lower ARP. Thank you for you time looking into the matter.

Thanks for any feedback.

Be Prepared to respond to what limit you want, rewards you want (airline or cash basically) and possible interest.

Ask for at least matching of your highest limit if not more, they will counter.

Re: Is it time to drop my sub-prime cards?

Anonymous — Wed, 16 Jan 2013 23:59:23 GMT

@lawless05 wrote:
Ok so this is the letter i sent to the CEO email last night. I have yet to get a reply. Was i too nice or should have included more detail on my account?

I have had my card with your company for almost 7 years with the same limit of 750. I have asked for increases of limit and been denied at every turn. I have asked for a decrease in APR(currently at 22%) and been denied plus I still have to pay annual fees. When you look at my account you see a lot of activity but i'm alway close to my max credit line but have never been late. I have greatly improved my credit profile since getting this card and think that i should be able to get something in return for being a great customer. I was about to close the card out when a friend told me to email the company and see what i get in return. I hope to keep doing business with Capital One but i feel if this is not fix in some way I will move on to other companies that currently giving me higher limits and lower ARP. Thank you for you time looking into the matter.

Thanks for any feedback.

I think that is fine, certainly don't worry about being too nice, there is no point in being aggressive with these people. As always, you need to consider the company perspective. How much of a loss is it to lose you? Unfortunately, probably not much at all (given your $750 limit, you couldn't have been spending enough money for them to really care) so just state your case as you have done. Good luck

Re: Is it time to drop my sub-prime cards?

visorboy1974 — Thu, 17 Jan 2013 00:02:27 GMT

Call them, threaten to close the card...if they close it immediately, you'll know you never had a chance.

Re: Is it time to drop my sub-prime cards?

Anonymous — Thu, 17 Jan 2013 00:10:23 GMT

@visorboy1974 wrote:
Call them, threaten to close the card...if they close it immediately, you'll know you never had a chance.

If you call a front-line CSR, and threaten to close, I think they almost always will close (no time, no concern) whereas the exec office MIGHT try harder to accomodate. I.E. the reaction of the CSR is no indication of what could happen with EO, but if you call the CSR first, it will be too late!

Re: Is it time to drop my sub-prime cards?

Creditaddict — Thu, 17 Jan 2013 00:26:45 GMT

@Anonymous wrote:
@lawless05 wrote:
Ok so this is the letter i sent to the CEO email last night. I have yet to get a reply. Was i too nice or should have included more detail on my account?

I have had my card with your company for almost 7 years with the same limit of 750. I have asked for increases of limit and been denied at every turn. I have asked for a decrease in APR(currently at 22%) and been denied plus I still have to pay annual fees. When you look at my account you see a lot of activity but i'm alway close to my max credit line but have never been late. I have greatly improved my credit profile since getting this card and think that i should be able to get something in return for being a great customer. I was about to close the card out when a friend told me to email the company and see what i get in return. I hope to keep doing business with Capital One but i feel if this is not fix in some way I will move on to other companies that currently giving me higher limits and lower ARP. Thank you for you time looking into the matter.

Thanks for any feedback.
I think that is fine, certainly don't worry about being too nice, there is no point in being aggressive with these people. As always, you need to consider the company perspective. How much of a loss is it to lose you? Unfortunately, probably not much at all (given your $750 limit, you couldn't have been spending enough money for them to really care) so just state your case as you have done. Good luck

and also post from: @visorboy1974 wrote:

Call them, threaten to close the card...if they close it immediately, you'll know you never had a chance.

bs6054 I see that you have a $30k limit and a $15k limit with Capital One so clearly you have never been a Sub-Prime customer with Capital One and have a different perspective on Capital One. I know dozens (literally dozens of friends and associates that have had Capital One since they were 18... One friend I have talked about a lot on here because of what I find in process of talking to him and then helping him look into his credit worth elsewhere.... so here it is quick.... 28 Years old, Capital One card with $500 limit since he was 18. ONLY other credit card he had was Bloomingdales and that was about $5k range (never really requested) Also at time of meeting him he was at about $70k, his Fico (I was there upon pull were both over 800 and Cap1 never CLI... he then proceeded to move up in company from 70 to 90 to 120k and then go instant approval for citi and amex and quickly had over $10k lines on those 2 companies.

now more on your size, my parents have had personal capital one cards and business capital one cards and never knew subprime either... but making statements that witha $750 limit and your usage and credit probably are to blame for not getting increases and not getting crazy requesting things from capital one... They do all CSR stuff overseas and have NO one in those call centers that can actually do ANYTHING regarding CLI's... it's all computer... this opening up in president office has only been really working for past 4-6 months I would say... it has changed everything for many of us on here...

and the other of threaten to close... you are dealing with folks overseas who don't care, don't know what you are talking about, and don't have any computer authority to do otherwise.

this email is the only way.

Re: Is it time to drop my sub-prime cards?

lawless05 — Thu, 17 Jan 2013 00:50:07 GMT

Thanks for all the support and I'll take the GOOD advise lol. Waiting is hard when other are saying they got a call in 24 hours.

Re: Is it time to drop my sub-prime cards?

Anonymous — Thu, 17 Jan 2013 01:48:10 GMT

@Creditaddict wrote:
@Anonymous wrote:
@lawless05 wrote:
Ok so this is the letter i sent to the CEO email last night. I have yet to get a reply. Was i too nice or should have included more detail on my account?

I have had my card with your company for almost 7 years with the same limit of 750. I have asked for increases of limit and been denied at every turn. I have asked for a decrease in APR(currently at 22%) and been denied plus I still have to pay annual fees. When you look at my account you see a lot of activity but i'm alway close to my max credit line but have never been late. I have greatly improved my credit profile since getting this card and think that i should be able to get something in return for being a great customer. I was about to close the card out when a friend told me to email the company and see what i get in return. I hope to keep doing business with Capital One but i feel if this is not fix in some way I will move on to other companies that currently giving me higher limits and lower ARP. Thank you for you time looking into the matter.

Thanks for any feedback.
I think that is fine, certainly don't worry about being too nice, there is no point in being aggressive with these people. As always, you need to consider the company perspective. How much of a loss is it to lose you? Unfortunately, probably not much at all (given your $750 limit, you couldn't have been spending enough money for them to really care) so just state your case as you have done. Good luck
and also post from: @visorboy1974 wrote:
Call them, threaten to close the card...if they close it immediately, you'll know you never had a chance.

bs6054 I see that you have a $30k limit and a $15k limit with Capital One so clearly you have never been a Sub-Prime customer with Capital One and have a different perspective on Capital One. I know dozens (literally dozens of friends and associates that have had Capital One since they were 18... One friend I have talked about a lot on here because of what I find in process of talking to him and then helping him look into his credit worth elsewhere.... so here it is quick.... 28 Years old, Capital One card with $500 limit since he was 18. ONLY other credit card he had was Bloomingdales and that was about $5k range (never really requested) Also at time of meeting him he was at about $70k, his Fico (I was there upon pull were both over 800 and Cap1 never CLI... he then proceeded to move up in company from 70 to 90 to 120k and then go instant approval for citi and amex and quickly had over $10k lines on those 2 companies.
now more on your size, my parents have had personal capital one cards and business capital one cards and never knew subprime either... but making statements that witha $750 limit and your usage and credit probably are to blame for not getting increases and not getting crazy requesting things from capital one... They do all CSR stuff overseas and have NO one in those call centers that can actually do ANYTHING regarding CLI's... it's all computer... this opening up in president office has only been really working for past 4-6 months I would say... it has changed everything for many of us on here...

and the other of threaten to close... you are dealing with folks overseas who don't care, don't know what you are talking about, and don't have any computer authority to do otherwise.

this email is the only way.

I think you are misunderstanding what I was saying. I completely agree that contacting the exec office seems to be the only way to get things done, I recently did that to get my rewards updated, after repeatedly hearing "Sorry, we can't do that" from the frontline CSRs. If you look at my post, I was saying that the text was fine (first sentence), and he shouldn't worry about it not being rude, because being rude won't help. I didn't say that it was his usage that was preventing getting CLIs, with a low CL, you really can't push huge sums through. My point was because of that, which is Cap One's fault anyway, being more aggressive won't help, because he isn't going to appear to be a super-valuable customer who they will bend over backwards not to lose. Being rude is more likely to make them say, "No". So I was supporting the email..

And I also fully agree that threatening with front line CSRs is pointless, as I posted in an additional post earlier!