@Anonymous wrote:
@red259 wrote:I am a bit confused. What evidence do we have that capital one has drastically changed their credit line approvals other than one person claiming a 50k line? From all the frequent bashing of cap 1 on this site I am shocked how quickly people seem to change their tune. For what it is worth I got an instant 5k approval on the venture when I did not have any other open cards and that was almost two years ago, so if people are getting crazy for a 5-10k instant approval this is nothing new.
I tend to agree with you. I'm not sure that they changed anything. It started with that high limit and people started posting approvals and this just led to a frenzy of people applying. I got my $10K approval 7 months ago when my credit score was much worse so I think if I had applied now I would have been $20K or higher.
I think what changed is the high limits appearing and making people forget certain pain aspects they had built into their "CapOne Experience".
From the time I started reading posts here at the end of October, there is a large contingent of disaffected CapOne builders who got the starter cards, then got to the max available credit lines on those cards, whether $500, $750, $1,500, or $2,500 depending on the person. And then were frustrated at not being able to continue to get larger CLI on the same cards.
The common knowledge also is, CapOne pulls all three credit bureaus. And in this crowd, 3 pulls is just Not Cool. AF Cards are Not Cool. So these builders sat on their starter cards, clucked like hens, and the cards never hatched into larger limits, could never hatch into larger limits, while other lenders started seeing these same cardholders improving scores and gave them larger limits, only making it apparent how small those CapOne starter cards were.
Thus, the older starter CapOne cards become a reminder of the starter days.
Now that a few larger limits are being publicized here, people forget that "3 HP are always bad" in the interest of getting a serious large limit, AF be damned. And they find out that, wow, Capital One is a real CC bank that likes to give cards to people with good credit! Amazing!
@barbaralee wrote:When I first started coming here the mania was the Hooters card, lol. They were giving generous credit lines for mediocre profiles. Then left, came back and it was Navy. Took a very long break, came back and it was the Duck card. Now the Venture. There have been a few in between, but those are what stick out to me.
I am quite proud of the fact that I do not have a Hooters card in my wallet.
;
@Anonymous wrote:From the veterans of this site, have you seen a "run on the bank" scenario like what is currently going on with Capital One and the Venture card? I am looking at the board, observing scores, profiles, incomes, baddies and it seems insane? I have already outlined my take on what I believe is the current strategy for Capital One but I wanted to hear from other who have seen similar events and their thought out take on what is occuring right now?
Oh good god, this is nothing... I've been around for a longer time than most, I cant even recount how many "crazes" there have been since I joined.
@barbaralee wrote:When I first started coming here the mania was the Hooters card, lol. They were giving generous credit lines for mediocre profiles. Then left, came back and it was Navy. Took a very long break, came back and it was the Duck card. Now the Venture. There have been a few in between, but those are what stick out to me.
OMG, I totally forgot about the hooters card craze!! I could just never bring myself to ever actually use the card in public, therefore, I never applied...