Cap1-NO human customer service. Algorithms only.

[TaperRandy]

By what measure? An algorithm? I stated what I was purchasing, for explanatory purposes here. I'm fairly certain that my purchases aren't scrutinized on a specificity level. That is to say, an algorithm doesn't know a pile of 2x4s from Patriots season tickets. Thats what I'm goin' with anyway! 😉🙂

[Anonymous]

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@MakingProgress wrote:

One fact to keep in mind is that when you call a company there is a very good chance that the CSR you are talking to does not work for that company but for a company that runs call centers.  i.e I call Capital One ,but the phone is answered by someone who works for XYZ call center.  XYZ has a contract with Capital One to provide "Customer Service" for thier products.  The employee at XYZ may one day be taking calls for Capital One and the next they might be tech support for Verizion.

IMO companies that maintain thier own call centers provide better customer service than companies that farm it out.   

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Very interesting ... that may be why sometimes it seems like the CSR does not know the product as they have many and don't necessariy know all about the specifics (always ticks me off when I know more than the CSR).

[kshurika]

SouthJamaica wrote:

"If you use your personal card for business purposes your account may be terminated by Capital One."

While it is not good to commingle funds, it is completely legal for a business owner to spend his own funds to buy capital for his own business and then be reimbursed by that business. If the IRS and a state's tax board have no problems with this, why should Capital One?

[pipeguy]

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@kshurika wrote:
@SouthJamaica wrote:

"If you use your personal card for business purposes your account may be terminated by Capital One."

While it is not good to commingle funds, it is completely legal for a business owner to spend his own funds to buy capital for his own business and then be reimbursed by that business. If the IRS and a state's tax board have no problems with this, why should Capital One?

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Although it is "legal" it may be against the terms of use by a lender and that too is legal.  When I had my own business for 18 years I was the business and used personally issued cards for a lot of business spending - no one complained about be running hundreds of thousands through my cards. That being said, if I did it today I'd have several cards that I solely used for business and keep my personal cards separate.

Capital one issues "business cards" as do many other lenders (card issuers) and these cards tend to have higher limits based on need and usage and at times a financial statement or business tax return.  I would suggest the op looks into opening one or two business cards such as Spark or Ink for general spend, business travel cards are a whole different situation.

There is also a greater risk for both the lender and the cardholder to finance the ongoing operation of a business using credit cards - not only high-interest costs if you need to carry a balance, but personal ruin if things go south for the business - been there it's not fun. 

[TaperRandy]

All valid points and appreciated. Non applicable in my case however. I pay my balances for my business down immediately. I have credit lines with suppliers that don't even offer credit lines, my reputation can boast. They will drop materials and send me a bill, wait for me to call with a card. To the point of business going south, impossible unless I become addicted or incompacitated. My region, brand, and trade demand don't allow for that option, thanks be to God. Lastly, Cap1 pulls TU. Can't have another inq on my TU. 15/24 currently. My point? I get the Business Card thing. I have two as it is. It's just not an option. Thank you for the reply though.

[Anonymous]

Your signature says you have the capital one platinum with a higher limit. Any possibility of combining that into the QS? I’m new to the credit game so excuse me if this question is stupid.

[TaperRandy]

Yes, the option is available if I have my Platinum at zero balance, and take a hit on my oldest account age. 

[SOGGIE]

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@TaperRandy So here's the kicker. I get a call escalated to a "supervising credit manager" 🙄. To her credit, she does take the time to explain that everything credit related is decided by an algorithm program. Cap1 has a business model predicated on having NO humans, no underwriters, and no analysts making any judgment calls or overrides on what a numbers program produces to the customer.

Say it isn't so.

[Anonymous]

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@TaperRandyYes, the option is available if I have my Platinum at zero balance, and take a hit on my oldest account age. 

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Combining limits, closing accounts, etc. has no bearing at all on your AoOA.

[TaperRandy]

So, closing your oldest account (In this case, the aforementioned Cap Plat I had used as an example to the OP) has NO bearing on your AoOA! Well, you've reinvented the credit universe as we've all come to understand it. Congrats. Looking forward to the global FICO announcement. 

p.s.  You do understand that when combining two accounts that one of them no longer is an account, hence...it becomes, a closed account?? Yeah, you knew that.