Cap 1 CLI why do we bother?

[Braydon]

I started out with the basic steps card 5 years ago with a $750.00 CL and it stayed that way untill 7 months ago. It took an Email to the EO before they moved me over to the QuickSilver and gave me small CLI increase of $250.00. For the heck of it Tonight I gave it a shot on the web site and got the standard 7-10 day message nothing new.. I guess it made me wonder why do we as comsumers have to strive so hard to business with these folks? Sending emails then waiting for call backs just to obtain what other cards do without me even asking. I could understand Cap 1's position if my scores were low or my UTL was high or I had commited any of the credit card no no's that made them feel I was a risk. I'm going to stop chasing my tail with these folks. I'm on vacation right now and if its anything like my last one 4 moths ago they just missed out on the lions share on over 12G that I paid out to Discover, Citi, and Amx on the last get away trip.Just my thoughts!

[Pat94108]

Funny that you created this thread. I just closed my Cap One 1 Quicksilver today, after trying the luv button and got the 10 day message again. I contacted them through chat and requested to have the account closed and I wasn't asked , not surprisingly, why I wanted to close it but it simply made me realize even more that Cap One just arent' that interested in their customers so for now I'll just use my Amex and if I ever need another account I will open one with another credit card company.

I agree with you, it is difficult  to get a CLI with them and other companies do it without you asking sometimes so I realize it was too much trouble and simply not worth it. Cap One is not a bad company but I simply realized that their policy and way of doing things didn't fit my needs/wants so it's fine.

[B335is]

I really don't know why anybody bothers, especially for 5 years.  I hear of people stuck at $1k for 10 years, good grief I must be the most impatient person alive, I'd stick forks in my eyes as I'm being strolled off to therapy.  

Cap1 played a role in my credit journey, but that's it.  Quicksilver is decent for everything out of 3% categories, but to take 3 hard pulls for it - no thanks.  I'll wait for Fidelity Amex for the 2%.  When I requested my AF waived, they offered to "upgrade" me to Quicksilver One, same points structure and AF.  The CSR couldn't even explain what the upgrade was, besides a new card.  I almost felt bad for the guy as he kept repeating "you will get a new card, you will get a new card" ad-nauseum.  

Back on point - Cap1 played a role in my credit journey, and unfortunately due to various policies (3-HP for a card, scripted CSR dialogue to the point I could be a Cap1 CSR, failure to ever take the training wheels off of a card, the CEO has to approve credit increases, and on, and on....), I have no interest in ever going back.  Even their cards for "excellent" credit suffer the same shortcomings as the lower tier cards (rare increases, sub-par customer service).  Amex and Chase (and to a lesser extent BofA, Citi, Discover) get all of my business now.  I realize my history with Cap1 ultimately showed these other lenders I could handle credit and I certainly recognize that history opened more doors as time went on, but I couldn't handle the frustration of dealing with it anymore.

[Pat94108]

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@B335is wrote:

I really don't know why anybody bothers, especially for 5 years.  I hear of people stuck at $1k for 10 years, good grief I must be the most impatient person alive, I'd stick forks in my eyes as I'm being strolled off to therapy.  

Cap1 played a role in my credit journey, but that's it.  Quicksilver is decent for everything out of 3% categories, but to take 3 hard pulls for it - no thanks.  I'll wait for Fidelity Amex for the 2%.  When I requested my AF waived, they offered to "upgrade" me to Quicksilver One, same points structure and AF.  The CSR couldn't even explain what the upgrade was, besides a new card.  I almost felt bad for the guy as he kept repeating "you will get a new card, you will get a new card" ad-nauseum.  

Back on point - Cap1 played a role in my credit journey, and unfortunately due to various policies (3-HP for a card, scripted CSR dialogue to the point I could be a Cap1 CSR, failure to ever take the training wheels off of a card, the CEO has to approve credit increases, and on, and on....), I have no interest in ever going back.  Even their cards for "excellent" credit suffer the same shortcomings as the lower tier cards (rare increases, sub-par customer service).  Amex and Chase (and to a lesser extent BofA, Citi, Discover) get all of my business now.  I realize my history with Cap1 ultimately showed these other lenders I could handle credit and I certainly recognize that history opened more doors as time went on, but I couldn't handle the frustration of dealing with it anymore.

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I  totally agree. That's what I don't understand with them.

[FinStar]

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@B335is wrote:

I really don't know why anybody bothers, especially for 5 years.  I hear of people stuck at $1k for 10 years, good grief I must be the most impatient person alive, I'd stick forks in my eyes as I'm being strolled off to therapy.  

Cap1 played a role in my credit journey, but that's it.  Quicksilver is decent for everything out of 3% categories, but to take 3 hard pulls for it - no thanks.  I'll wait for Fidelity Amex for the 2%.  When I requested my AF waived, they offered to "upgrade" me to Quicksilver One, same points structure and AF.  The CSR couldn't even explain what the upgrade was, besides a new card.  I almost felt bad for the guy as he kept repeating "you will get a new card, you will get a new card" ad-nauseum.  

Back on point - Cap1 played a role in my credit journey, and unfortunately due to various policies (3-HP for a card, scripted CSR dialogue to the point I could be a Cap1 CSR, failure to ever take the training wheels off of a card, the CEO has to approve credit increases, and on, and on....), I have no interest in ever going back.  Even their cards for "excellent" credit suffer the same shortcomings as the lower tier cards (rare increases, sub-par customer service).  Amex and Chase (and to a lesser extent BofA, Citi, Discover) get all of my business now.  I realize my history with Cap1 ultimately showed these other lenders I could handle credit and I certainly recognize that history opened more doors as time went on, but I couldn't handle the frustration of dealing with it anymore.

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@B335is

I respectfully disagree with that portion of your statement.  IME, this has not been the case by any means, and I'm sure there are others who have Capital One CCs that qualified under excellent credit terms back in the day.  Also, 2 of my legacy Capital One cards (excluding HSBC CCs) have current combined limits of $32K - both are WMC & Signature products and both have received decent auto-CLIs - which currently meet (if not exeeed) my needs.  I've never had to contact the EO for anything and anytime I've reached a CSR (whether via chat or phone) has had a positive outcome - then again, I don't really contact them that frequently.

Now, realizing that other folks may not qualify for their higher-tier products, it is what it is.  What has been known for a while is that Capital One has a vast array of products for not-so-perfect credit profiles which in turn tends to provide some sort of stepping stone for building (or rebuilding) an individuals credit profile.  That being said, they are limited products, whether it's the Credit Steps Card Program (which doesn't grow too much - it has CL limitations) or the Secure Card route, which does not unsecure.

[nyancat]

To me, the best part of Capital One is knowing their customer service is fantastic and that they've got my back. I've done a chargeback with them and one with Bank of America. The experience is 1000x better at Capital One. Also, Capital One CSRs are friendlier, more helpful, and understand far better. Their customer service is the best of any card I have, and that's huge to me.

[Anonymous]

As always, it comes down to what you want/need..   I started off with a very good CL from Capital One, reasonable rewards structure, and didn't ask for CL for 9 years (and 14 years on my other Cap One card).  And now the QS is a pretty competitive card, I have it + Fidelity Amex, and they complement each other as a lot of places I go don't take Amex, and it works well abroad with no FTF.

I do understand that my relative happiness comes from not needing action (CLI/PC) from CSRs and the few times I tried I did experience the script-driven brick wall.   But from Capital One's relative success, I assume that their model works for them, as I suspect the majority of the credit card population aren't chasing CLIs and PCs!

[Pat94108]

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@Anonymous wrote:

As always, it comes down to what you want/need..   I started off with a very good CL from Capital One, reasonable rewards structure, and didn't ask for CL for 9 years (and 14 years on my other Cap One card).  And now the QS is a pretty competitive card, I have it + Fidelity Amex, and they complement each other as a lot of places I go don't take Amex, and it works well abroad with no FTF.

I do understand that my relative happiness comes from not needing action (CLI/PC) from CSRs and the few times I tried I did experience the script-driven brick wall.   But from Capital One's relative success, I assume that their model works for them, as I suspect the majority of the credit card population aren't chasing CLIs and PCs!

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+1 Agree. It all depends on what your credit situation. For me, I realize they were not generous enough at this point of my credit journey, especially since I am not in a building/rebuilding phase. I am sure they're the perfect cc company for many other different people.

[Braydon]

I know everyone has their own thoughts and thats good!

I never asked CAP 1 for a CLI for the sake of  just asking I ask because if I"m going to carry their card I want it to work for me not me working for it! I hate to close cards but perhaps its time.to say thank you and part ways.

[dallasjetfan]

I've had my card for 8 years.  At first, I was offered the credit steps from starting limit of $1750.  Ultimately, building to $5050.  Now for last 5 years and my credit improving steadily, I have never recieved another increase.  I have my checking account with them also, but I think with this last denial I have decided to close all my accounts with them and just continue with my CU even though its not easy to deposit any cash I have because it is located in another city.  I'm just over Cap One especially when my Barclays cards have been increased every 6 months and are now double my Cap One card.  I really don't need this much credit actually, but it has been a fun game to play and watch my score climb higher.  Bye Cap One!!