Cap 1 hasn't Crap 1'nd me yet, Part 4

[dallasjetfan]

Most horror stories come from people who don't pay their bill just like any credit card.

[Anonymous]

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@Anonymous wrote:

Congrats, lando!! (love your moniker by the way)

I've had my Cap1 card for a year now and so far so good. {lurk knocking on wood.}

I have received 2 small CLI's using the backdoor number and am generally happy, except that my limit is only "inching" up. Oh well. I guess patience has never been my strong suit.

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You said that your limit was inching up. How much were the CL increases??

Message Edited by landocalrissian on 03-12-2008 06:09 AM

[Anonymous]

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@Anonymous wrote:

Congrats Lando!

Now... please give advice... I know it is still new for me, but I have read of people getting a credit line in crease before their first statment. I have called Capital 1 at least 3 times already and they make it clear that a CLI is not an option for me at this time. I have called the back door # most recently a week and a half ago. After speaking to two people the most I got was that they would report that I actually HAVE the card! Anyway, just wondering what card you have. I have the No Hassle Points Visa Plat. It came with a 500.00 initial limit. I did get something in writing stating that with on time payments it would be increased to 750.00 after my third statment (April).

Give advice about how to stay in Cap 1's good graces and to keep getting those CLI. Again congrats.. and you keep getting more!!

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All I can say is use the card, pay on time, but more importantly--PAY ABOVE THE MINIMUM. In fact, I would try to pay double the minimum payment if you can. It shows them that you are able to pay them back the money that you borrowed from them--period. Both of my cards are Platinum Visa rewards cards and they come from the "the credit in need of improvement" bucket of Cap1's card selection. The initial limits on both cards was 300 dollars. The maximum limit possible on both cards is 3000K. I want to get the limits as high as I can get them on both cards then combine them with a request for a CLI. But this is something I will do down the road. Message Edited by landocalrissian on 03-12-2008 06:16 AM

Message Edited by landocalrissian on 03-12-2008 06:17 AM

[Anonymous]

lando's last post reminded me of the last time I spoke to an acct. specialist using the back door number. I was whining about my cl's, interest rate, trying to GW some lates, etc, etc, etc. We must have talked for 30 minutes. Their acct. specialist call center is in Nova Scotia. And they are all very nice.

Regarding the cl she said "yes you have some lates, 2 years old, BUT we show that you paid "overdue"(pmt. received after due date, by a few days) 3 times, and that will also hurt your chances for a cli. We can't do anything about the lates" Hurt?? I'd say KILL your chances if you are overdue.

Regarding the cli: I have reached the upper limits of my cl on that particular tier of card. The only way to increase it further is by combining with another Cap1 card or apply for a new one.

Moral of the story: NEVER go over your credit limit, and never ever be late. Cap1 just LOVES to charge you $35 for over the limit fee/late fee, and set your APR to the max they have(29.99% for me) for going over the limit, OR for getting a 30 day late.

Keep the card squeaky clean and they treat you well. Be late or over the limit and it can be a nightmare for you. Take it from one who learned the hard way.

[Anonymous]

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dallasjetfan wrote:
Most horror stories come from people who don't pay their bill just like any credit card.

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That's just not the case.  If only it were as simple as that, at least then I could understand that they might have a reason for treating me the way the do.

Some of us pay our bill in full 3-4 times a month, never late on anything, and never over the limit.  Ever.

Yet, Cap1 still thinks $500 is plenty to satisfy our needs.

[SWISSOATL]

CRAP 1 IS ON MY ISH LIST RIGHT NOW

SCREW EM!

YEAH GET MY CREDIT STEPS INCREASE COMBINE

AND GET ANOTHER ONE WITH NO AF! YEAH!

[dpr73]

dallas,

I have paid my bill on time and always more than the minimum for almost three years so i aint buying that.

[Anonymous]

Hi,

we got our capital one 5/07  got one increase to 750 without asking in like september or october.  We got our APR lowered when I called them in december or so and we called them last month to ask for a cli.  They said no.  I always pay more than the minimum. 

Anyone have anysuggestions as to when to ask for another increase?

Thanks

[Anonymous]

I still think it comes down to usage as the major determinant as to whether you get an increase or not. And don't forget that it is usually a computer making the decisions.

[Anonymous]

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landocalrissian wrote:
I still think it comes down to usage as the major determinant as to whether you get an increase or not. And don't forget that it is usually a computer making the decisions.

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I routinely use more than my $500 CL every month, and I do that by paying in full multiple times per billing cycle.  How much more usage do they want?

My statements consistently look something like:

Credit Line: $500

Previous Balance $5

Charges: $800

Payments: $796

New Balance: $9

Yes, it is a computer making the decisions.  That's kind of the problem.  There needs to be some room for a human being to eyeball a cardholder's account history and CR and say "OK, let's give this person another $1K."

I just can't believe any of the theories about how you need to do this or that to get luv from Cap1.  IME, once they have pigeonholed you as a "Needs Improvement" kind of cardholder, you wear that label with them until you apply for a different card.

Message Edited by cheddar on 03-12-2008 01:45 PM