topic Re: Cap One - Thought I hated them but... in Credit Cards

Cap One - Thought I hated them but...

Anonymous — Wed, 16 Jul 2008 18:10:12 GMT

I like the ( 500 Dollars much ) Now. My 4th card I got this year. Going to try to CLI increase in 6 months. (Guy from Discover told me to try this -heh) ....Weird this is this card is only a 2 year expire (till 2011) card....why?

Re: Cap One - Thought I hated them but...

Anonymous — Wed, 16 Jul 2008 19:26:33 GMT

Sorry, but I don't think I understand your post. I was expecting to read something positive about Capital One, but I'm confused as to what you're getting at ...

Re: Cap One - Thought I hated them but...

Anonymous — Wed, 16 Jul 2008 19:32:51 GMT

@Anonymous wrote:
Sorry, but I don't think I understand your post. I was expecting to read something positive about Capital One, but I'm confused as to what you're getting at ...

I got accepted by them in the mail today. A small CLI of 500 of a custom card. Thats all.

Re: Cap One - Thought I hated them but...

Anonymous — Wed, 16 Jul 2008 20:40:46 GMT

You will most likely get a letter about Credit Steps in the mail in a week or so. You should get an auto CLI on your 4th statement. You should call before then and ask for CLI, then your auto CLI will likely be higher.

Maybe they just want you to use your card so much between now and 2011 that it gets totally worn out and you need a new one

Re: Cap One - Thought I hated them but...

Anonymous — Thu, 17 Jul 2008 02:24:43 GMT

CapOne can be a blessing to credit rebuilders...of course, it's usually one of those cards you jettison after your scores pass 720 or so.

A lot of the negative feelings toward CapOne stem from the days when they didn't report credit limits and thus hurt a consumer's utilization. Fortunately, that was corrected last year around this time, and they're now a respectable rebuilder to subprime card.

Re: Cap One - Thought I hated them but...

Anonymous — Thu, 17 Jul 2008 02:33:47 GMT

@Anonymous wrote:
CapOne can be a blessing to credit rebuilders...of course, it's usually one of those cards you jettison after your scores pass 720 or so.

A lot of the negative feelings toward CapOne stem from the days when they didn't report credit limits and thus hurt a consumer's utilization. Fortunately, that was corrected last year around this time, and they're now a respectable rebuilder to subprime card.

Well this extra 500 bucks better HELP my UTI out. I did not get it to make myself feel good. haha.

Re: Cap One - Thought I hated them but...

Anonymous — Thu, 17 Jul 2008 02:51:00 GMT

@Anonymous wrote:
CapOne can be a blessing to credit rebuilders...of course, it's usually one of those cards you jettison after your scores pass 720 or so.

A lot of the negative feelings toward CapOne stem from the days when they didn't report credit limits and thus hurt a consumer's utilization. Fortunately, that was corrected last year around this time, and they're now a respectable rebuilder to subprime card.

I completely agree TNWM. Capital One may be stingy, rude, et al, but they were an excellent rebuilder card for me. While everyone else wanted account setup fees, monthly membership fees, account maintainence fees, 29.99 percent interest, and an annual fee, Capital One was there with 14 percent interest and a small $19 AF.

It was only $500, but it grew into $3800 within a year. Granted, it stays in the SD now, but I definitely gained respect for Capital One along the way to 700.

Re: Cap One - Thought I hated them but...

athensguy — Thu, 17 Jul 2008 23:11:58 GMT

TheNewWorldMan wrote: CapOne can be a blessing to credit rebuilders...of course, it's usually one of those cards you jettison after your scores pass 720 or so. A lot of the negative feelings toward CapOne stem from the days when they didn't report credit limits and thus hurt a consumer's utilization. Fortunately, that was corrected last year around this time, and they're now a respectable rebuilder to subprime card.

My CapOne is one of my lower limit cards, at $8K, but it currently has an APR of 7.55%. It doesn't feel subprime or rebuilder. While it's somewhat hazardous, they do send no fee cash advance checks pretty often.

Re: Cap One - Thought I hated them but...

unknown_entity — Thu, 17 Jul 2008 23:20:08 GMT

CapOne is pretty cool. I can see how people get ticked at them though. It seems to me that they like to see lots of usage. They also don't seem to mind you carrying a balance. I got a $500 cli last year when I was about $30 short of my limit. If you get stuck in a dead end card with them, just get one of their newer cards and combine the older one to that. They will still report the combined cards as 2 accounts both open and current.