What's the Real reason you like Cap1?

[TekkenQQ7]

I really don't know why but I just do

[Anonymous]

I think they are popular because they serve people in all stages and types of rebuilding MUCH better than any national competitor. Even people who burned them are giving second chances at what most would consider fair interest rates and fees.
They also serve the prime market pretty well, especially people who are not quite in prime territory but close.
I love them for those reasons, but also because they have fairly simple and straight forward rewards structures and don't make you wait for them.
And lastly, imo they have the best and easiest to use website.

Overall, they have treated me better than any other bank at all stages of my journey.

[Anonymous]

---

@Anonymous wrote:

I dunno. I am ambivalent about them. I am not in any position to be incurring more inquiries from them, especially when I already have 6 on my report until next april when 3 drop off...  November1 is when my qs goes to 24.9 from 0. If they cant work with me on the APR, and if in 6 months I cant get the limit up, I DOUBT I would close the card but I will not use it that often. I do not care for their venture card whatsoever. Its only good for the high limit and easy approval. I would like to think my shifting of general spend to my DC will broaden my horizons with citi for a premier one day in the future.

Cap1 does have some pretty fast redeeming rewards. With DC you have to make 2 payments from a checking account before you can have your rewards deposited to your checking account.....

I still dont understand why they dont change their behavior as a persons profile changes. A customer with credit scores above 700 should not be dealing with triple pulls. Nor should capital one encourage its customers to carry duplicate products, thus boxing themselves in from other lendors.

HOWEVER, if you wrant a credit card where its limit is pretty much guaranteed even if your other cards are maxed out and being balance chased...I guess capital one would be the one to let you accrue more debt without batting and eyelash.

---

Agree, the triple pull is a pain and it's why I am being strategic & waiting to get the venture. By pulling all 3 CB's they cover all bases, satisfy the UW's requirements and are able to extend credit where other banks won't\cant'. I just hope  other banks don't start doing the same.

[Anonymous]

For me personally theyre the only ones who would give me my first card. and in my case they have been great with CLI's jumping from $300 to $1.5k in exactly a year!! theyve gained my respect and probably an app for a prime card in the near future! lol!

[IllinoisNative]

---

@Anonymous wrote:

So many posts re: Cap1. Lots of people here like them alot.

Is it because of the credit steps, their 'forgiving' nature or short memory, the nice limits on their higher tiered cards or their ambiguous criteria for excellent credit?

COF's ( cap one financial )  income statement is staggering.

The losses are big but nothing compared to quarterly gains. Cap 1's interest alone could finance several 3rd world countries.

For those that burn them they hire the biggest, baddest, collection co.s and  these 'no necks' are Not nice.

Right now, I like them and I hope it stays that way.

---

I burned them years ago and they were the first company to give me a second change.  Now they reward my loyalty and "good behavior."    I get routine credit line increases without a hard pull, they don't usually take adverse action, it just works when I need it to (they aren't TRIMS happy), I find their website user friendly, when I had fraud on my account, they immediately took care if it with minimal fuss, you can redeem rewards any time, and they earn more than my Freedom card.  Plus, they aren't a nervous lender and I appreciate that - use them responsibly and they leave you alone.

[Anonymous]

They were the first to extend me unsecured credit. That means a lot when you are trying to rebuild. Any issues have been quickly resolved. My only complaint is the random holding of payments at times, but even that has stopped now.

[tntexans72]

Generous SL on their prime cards, a wallet app that send instant alerts to my iPhone when i use the card, from my personal experience they treat me better than other banks, they approved just about every tranactions for me and once your in the door....unlimited requested cli SP. 

These reasons along with what OP have stated. Hands down they are my favorite bank and I use the Venture for everything. 

[DeeBee78]

Frankly, I'm not so sure I like them anymore. The Capital One generosity train seems to have left the station for me. My experiences with them have been completely opposite of everyone else's in these forums. 

1. No pre-credit steps CLI's. Everyone in here seems to get a bump before their 5th statement credit steps CLI. Do you know how hard it is to run $8k through a $300 card in 6 months, hoping for a small CLI? I got nothing on both cards, and my credit steps increases were standard $200 increases. This is petty, but it set the tone for the lending relationship. Seems like they don't trust me.

2. CLI's don't match spending patterns. Last CLI's were a few weeks ago. The card I never use got a $1K CLI. The card I use all the time got $200. Contradicts all anecdotal evidence posted here. 

3. No more cards. I seem to be at some weird internal limit for the number of cards Capital One is willing to give me. I don't get any prequals for their "higher" tier cards, despite having better scores than several people with them. The last denial reason was a very vague "no real estate accounts," and "current credit is sufficient for usage." I ran over $7,500 through those cards between my previous CLI and new one. Meanwhile, BK Betty applies two days after filing for bankruptcy and gets a $30K Venture. Yes, I'm exaggerating, but it's still annoying to see someone with a fresh BK with better cards and limits than you. 

[Anonymous]

---

@DeeBee78 wrote:

3. No more cards. I seem to be at some weird internal limit for the number of cards Capital One is willing to give me. I don't get any prequals for their "higher" tier cards, despite having better scores than several people with them. The last denial reason was a very vague "no real estate accounts," and "current credit is sufficient for usage." I ran over $7,500 through those cards between my previous CLI and new one. Meanwhile, BK Betty applies two days after filing for bankruptcy and gets a $30K Venture. Yes, I'm exaggerating, but it's still annoying to see someone with a fresh BK with better cards and limits than you. 

---

I feel your frustration. To be fair however, pretty much all of the major lenders talked about on here have mostly the same unpredictable issues like that. I still don't know why Amex won't raise my $500 CL, even though I see people with similar and lower scores, plus BK's and less income getting 3x CLI's. Sometimes the banks computer tells them something about you and you get what you get, but it's certainly not an issue that only Cap One has.

[ErikaC1]

I like them because they gave me a chance when I didn't have credit, and after butning them in the past as well. I will not complain.