Cap 1 Confuses me

[Anonymous]

In the last week, I got my NM bumped from 2k to 3.5k, my Bergdorfs from 2k to 4.5k, but for the life of me, I cannot get a CLI on my Quicksilver (which had graduated form Platinum on Credit steps) at 500, or my Walmart Cap 1 I've had at the original SL of 1k for over a year. Absolutely no CLI joy with them except for their retail cards! 

Anyone else?

[Ficoproblems247]

Capital one issues cards as asset backed securities (ABS.) That is generally what is believed to be the cause of them bucketing their cards that they issue to sub-prime, or near-prime borrowers. You can find a lot of great info about ABS here. There are enough posts littered across the forums about bucketed Cap1 cards to keep you busy for a very, very long time. 

[FinStar]

An item to keep in mind, the Private Label (PLCC) side handles UW differently than the core Capital One cards.  These portfolios were acquired from HSBC a while ago (including Saks, Menards, etc.), and while Capital One may be the current servicer, those still operate under former legacy UW standards (to a certain extent).  The same would apply to Kohl's or other PLCC programs.

Even by comparison, Cabela's, GM BuyPower, Walmart, etc., are handled under different standards.

[Anonymous]

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@Anonymous wrote:

In the last week, I got my NM bumped from 2k to 3.5k, my Bergdorfs from 2k to 4.5k, but for the life of me, I cannot get a CLI on my Quicksilver (which had graduated form Platinum on Credit steps) at 500, or my Walmart Cap 1 I've had at the original SL of 1k for over a year. Absolutely no CLI joy with them except for their retail cards! 

Anyone else?

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YES! Literally almost everyone else here with a bucketed card.  It is what it is. 

[OmarGB9]

Yep, it's Cap One's MO: bucket sub-prime cards and limit CLIs to small/none, to force you to apply for a new card with them if you want a bigger CL.

[Anonymous]

May I ask what CC you reccomend above their low-tiered cards (I have Quicksilver & the Walmart MC). If you happen to know...

[OmarGB9]

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@Anonymous wrote:

May I ask what CC you reccomend above their low-tiered cards (I have Quicksilver & the Walmart MC). If you happen to know...

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Their cards for "excellent credit" (according to their site) would probably be considered upper-tier cards. The Quicksilver for good credit, the Venture, the Savor, the SavorOne Rewards for good credit, and the VentureOne Rewards for good credit.

[micvite]

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@FinStar wrote:

An item to keep in mind, the Private Label (PLCC) side handles UW differently than the core Capital One cards.  These portfolios were acquired from HSBC a while ago (including Saks, Menards, etc.), and while Capital One may be the current servicer, those still operate under former legacy UW standards (to a certain extent).  The same would apply to Kohl's or other PLCC programs.

Even by comparison, Cabela's, GM BuyPower, Walmart, etc., are handled under different standards.

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So... even though a cc is now a QS, if it originally was an HSBC platinum turned CAP 1 platinum the underwriting is old HSBC underwriting? Guess HSBC is lax with their underwriting or at least was many years ago...

[FinStar]

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@micvite wrote:

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@FinStar wrote:

An item to keep in mind, the Private Label (PLCC) side handles UW differently than the core Capital One cards.  These portfolios were acquired from HSBC a while ago (including Saks, Menards, etc.), and while Capital One may be the current servicer, those still operate under former legacy UW standards (to a certain extent).  The same would apply to Kohl's or other PLCC programs.

Even by comparison, Cabela's, GM BuyPower, Walmart, etc., are handled under different standards.

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So... even though a cc is now a QS, if it originally was an HSBC platinum turned CAP 1 platinum the underwriting is old HSBC underwriting? Guess HSBC is lax with their underwriting or at least was many years ago...

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No, my illustrations only apply to PPLCs as far as HSBC goes.  If your V/MC card was originally with Orchard Bank and/or HSBC, those accounts were integrated into Capital One's main (product family) platform.  So, any CLIs would be subject to similar criteria as that of Platinum, QS1, QS, Venture One, etc.  It also depends which tranche your card was aligned during the transition.

[micvite]

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@FinStar wrote:

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@micvite wrote:

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@FinStar wrote:

An item to keep in mind, the Private Label (PLCC) side handles UW differently than the core Capital One cards.  These portfolios were acquired from HSBC a while ago (including Saks, Menards, etc.), and while Capital One may be the current servicer, those still operate under former legacy UW standards (to a certain extent).  The same would apply to Kohl's or other PLCC programs.

Even by comparison, Cabela's, GM BuyPower, Walmart, etc., are handled under different standards.

---

So... even though a cc is now a QS, if it originally was an HSBC platinum turned CAP 1 platinum the underwriting is old HSBC underwriting? Guess HSBC is lax with their underwriting or at least was many years ago...

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No, my illustrations only apply to PPLCs as far as HSBC goes.  If your V/MC card was originally with Orchard Bank and/or HSBC, those accounts were integrated into Capital One's main (product family) platform.  So, any CLIs would be subject to similar criteria as that of Platinum, QS1, QS, Venture One, etc.  It also depends which tranche your card was aligned during the transition.

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Ah, Gotcha, thanks for clarification. So I always thought cap 1 platinum was like one of the lowest tiers of cc, my moms cap 1 obviously isnt a bucketed card (couple CLI to over 9k now), she had an hsbc plat with the 1.5% CB, that got transfered into a cap 1 plat with 1.5% CB. why not just give her a QS to begin with? (they eventually asked if we wanted a PC which we did but I never understood why)