@Anonymous wrote:I'm debating so hard about this. I would love the large CL, but I have like 6 new accounts since December inclusing a QS. My FICO scores are about 770 for TU and EQ , and 750 for EX. I think I could get approved even though I have a million new accounts, and I was also pre approved. Does anyone alredy have this card that could comment on the benefits of the airline miles? From my understanding, its really not miles its still sort of like cash back?
Yeah, the Venture rewards are pretty much cash back. They can be redeemed for travel charged to the card. If you have any travel at all, the points work just like cash, so 40k signup bonus is like $400. If you never travel, then redeeming could be less valuable.
Nixon, you may be right about relaxed credit standards... which may mean we learned nothing from the last eight years.
@IgnatiusReilly wrote:
Nixon, you may be right about relaxed credit standards... which may mean we learned nothing from the last eight years.
If they took the bail out money, it is about time they dish it back out to the consumers. Also, they must be anxious to get back to their old ways with these wild approvals
@Anonymous wrote:
@IgnatiusReilly wrote:
Nixon, you may be right about relaxed credit standards... which may mean we learned nothing from the last eight years.If they took the bail out money, it is about time they dish it back out to the consumers. Also, they must be anxious to get back to their old ways with these wild approvals
Do you mean that it USED to be normal business for Cap one to run these style of manias like this?
@CreditMagic7 wrote:
@Anonymous wrote:
@IgnatiusReilly wrote:
Nixon, you may be right about relaxed credit standards... which may mean we learned nothing from the last eight years.If they took the bail out money, it is about time they dish it back out to the consumers. Also, they must be anxious to get back to their old ways with these wild approvals
Do you mean that it USED to be normal business for Cap one to run these style of manias like this?
They used to be very conservative and rarely give high limits. Those were reserved for their "elite customers". So as Nixon pointed out, they have probably relaxed the rules and are ready to play and pay heavy fines like other banks we know
Yes-It's-Me:
What I do not want to see is another bailout. Yes, financial institutions took TARP funds but that money came from printing and the Fed essentially borrowing from itself and the taxpayers. And the bailout created one hell of a moral hazard going forward.
Of course, Brian Williams singlehandedly funded TARP with his Centurion Card...
What I do not want to see is another bailout. Yes, financial institutions took TARP funds but that money came from printing and the Fed essentially borrowing from itself and the taxpayers. And the bailout created one hell of a moral hazard going forward.
Of course, Brian Williams singlehandedly funded TARP with his Centurion Card...
@Anonymous wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
@IgnatiusReilly wrote:
Nixon, you may be right about relaxed credit standards... which may mean we learned nothing from the last eight years.If they took the bail out money, it is about time they dish it back out to the consumers. Also, they must be anxious to get back to their old ways with these wild approvals
Do you mean that it USED to be normal business for Cap one to run these style of manias like this?
They used to be very conservative and rarely give high limits. Those were reserved for their "elite customers". So as Nixon pointed out, they have probably relaxed the rules and are ready to play and pay heavy fines like other banks we know
Yes, and not just CapOne, Chase, Washington Mutual, BofA, Citi, others I have forgotten, got cards from many, and have been merged into the surviving banks. Giving big limits was the standard operating procedure. And granting CLI when the balances increased. That's how I ended up with cards with $20k to $30k limits and lots of cash advances. 
Somehow I think the "cash draw works like a BT" for perpetually low interest rates, that part might not be the same this time around.
