Again, why do people care about Capital One?

[simplynoir]

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From reading through this thread, it seems many feel that Capital One holds a place in the market for rebuilders.  I agree, as they were my rebuilder card when I was at my lowest point.

I'm not sure I see value in trying to compare Capital One to Citi or Chase, as Capital One is 1/5 to 1/7 of the size of those two monsters. 

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Yep, there's no shame for CapOne cornering a segment of the market that will always have business since certain people are always looking for a good rebuild card to work with assuming they do their research first beforehand. I agree though that as you progress or already have good scores there are better options out there for whatever you're looking for from cashback to travel rewards/benefits.

[Anonymous]

@ OP, the Venture' 2pts back is limited? I thought it wasn't.

Also, the spark cash is awesome 2% back on everything, pretty nice signup bonus. There is no such thing as too many 2% back on everything cards

[Anonymous]

People like capital one because it has perfect mass market appeal: lots of "catchy" ad's, friendly to those with far from perfect credit & what appears to the less credit educated as good rewards. That last category is the important one.

Those of us on this forum are a tiny, microscopic, insignificant (numerically speaking) portion of the credit holding population.
Most people with credit cards know next to nothing about scoring, rewards structures or how to determine a cards true value/redemption rate from the advertised AF. Ask your parents, grandparents or sweet old lady aunts what percentage CB or redemption rate they get and you'll get a blank stare. Ask them what's in their wallet and odds are they'll say capital one.

These days America likes things as dumbed down and simplified as possible. I've given up explaining how to game credit to all our "debit/cash only" friends and family unless they specifically ask me about it - even the concept of PIF = never having debt or paying interest seems to require more thought than people want to put into spending. This is why capital one gets business - it's mass marketed, "simple with no blackout dates" and easy to get.

[Anonymous]

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wrote:
People like capital one because it has perfect mass market appeal: lots of "catchy" ad's, friendly to those with far from perfect credit & what appears to the less credit educated as good rewards. That last category is the important one.

Those of us on this forum are a tiny, microscopic, insignificant (numerically speaking) portion of the credit holding population.
Most people with credit cards know next to nothing about scoring, rewards structures or how to determine a cards true value/redemption rate from the advertised AF. Ask your parents, grandparents or sweet old lady aunts what percentage CB or redemption rate they get and you'll get a blank stare. Ask them what's in their wallet and odds are they'll say capital one.

These days America likes things as dumbed down and simplified as possible. I've given up explaining how to game credit to all our "debit/cash only" friends and family unless they specifically ask me about it - even the concept of PIF = never having debt or paying interest seems to require more thought than people want to put into spending. This is why capital one gets business - it's mass marketed, "simple with no blackout dates" and easy to get.

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100% agree..    the movie idiocracy was supposed to be a comedy, not a future predicting documentary. 

[Anonymous]

Cap1 is great for builders and rebuilders like myself. As stated in this post 10 times before me lol. 

Also I feel like their prequals are 95% solid .And that matters to a lot of people .Who cares about the 3 inquiries. 2 years later they're gone. After 1 year they don't even matter anyway. To add to it, some people are looking for high limit cards $25k etc. If they are preapproved for a venture they are almost guaranteed $20-25k at the rate they have been going as of lately. Sure you can grow any other cards but some people prefer to get that much right off the bat. Customer service is good .There's several other reasons .Whatever floats your goat but ill be with them for another couple years at least and see what else they can do for me. Because 1 year ago they were one of the few who trusted me with a 150 day late charge off on my report on my only card at that time. Then CLI 5 months later. Sure we can nitpick every company's cards and say what they DONT have. But that would be pointless. That's why theres so many different cards and carriers .Different rewards,cash back,etc . however each card and company do have their flaws .Nobody is perfect in this world and neither is credit. Just a matter of personal preference .In my opinion though it seems you cared enough about them to write a post for them so all you did was give them publicity. As they say any publicity is good publicity

[Anonymous]

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Not to hijack the thread, but the Citi Simplicity has a 21-month zero percent interest, no late fee, no penalty rate, etc. Best card to carry a BT, I think.

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Right. Citi has some solid offerings. 

The ThankYou Premier and Prestige are pretty good cards. Double Cash (even with FTF's) is pretty good because it gives 2% back with a 0% for 18 months balance transfer offer, and then you have the Simplicity, like you've said. 

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Different strokes for different folks. As for the Simplicity, the Freedom and Freedom Unlimited provide 0% interest for 15 months along with $150-$300 in cash. Plus cash back on purchases. A perk of Simplicity is no late fees but, while it doesn't pubicize it, Capitol One regularly waives interest fee penalties for customers with good track records. The Thankyou Premier only offers 30,000 points whereas I can get 50,000+ from multiple Chase and Amex cards. The Prestige comes with a $450 fee and its perks are inferior to the Amex Platinum, Amex Aspire and Chase Sapphire Reserve. Double Cash is the most appealing card for my needs. But even then, it doesn't move the needle much.  

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Not really sure where you're getting inferior perks for the Prestige v. Platinum. 

Price rewind, 4th night free (before taxes) unlimited times a year at hotels, $250 towards plane travel (more than AMEX Plat), lost ticket protection, trip cancellation/insurance protection. AMEX doesn't even have the last two perks. 

If you're playing your cards right, Prestige is $350 a year with those additional perks, but lacks the lounge access except Priority Pass. 

[Anonymous]

To those who tout the "rebuilding" argument, would it make sense for Capital One to advertise four of their card for those with "excellent credit." 

[Anonymous]

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To those who tout the "rebuilding" argument, would it make sense for Capital One to advertise four of their card for those with "excellent credit." 

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They do .Not sure what youre getting at here . its a couple more than 4. Don't forget about the Savor and Spark cards .

[Anonymous]

I hate Capital One for two reasons:

Their triple pull when applying for a card

The fact that they outright refuse to unsecure my secured card that I got before they started their new policy about unsecuring the secured cards. It seems extremely unfair that they won't unsecure the older cards, but only the newer ones. 

[wasCB14]

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wrote: 

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Not really sure where you're getting inferior perks for the Prestige v. Platinum. 

Price rewind, 4th night free (before taxes) unlimited times a year at hotels, $250 towards plane travel (more than AMEX Plat), lost ticket protection, trip cancellation/insurance protection. AMEX doesn't even have the last two perks. 

If you're playing your cards right, Prestige is $350 a year with those additional perks, but lacks the lounge access except Priority Pass. 

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As I see the terms generally used, "perks" are things that make travel nicer (like lounges and hotel ugrades) while "benefits" are things that protect your purchases and save you money (like trip cancellation insurance).

The distinction is not always clear or significant.