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Cap One CLI Joke

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Community Leader
Senior Contributor

Re: Cap One CLI Joke

Sounds like a classic bucketed card to me. Many people end up just closing them. They served their purpose of helping build your credit, but now you have better options. (Such as that Discover)

Discover It: 19.7k
Amex ED: 18k
Citi DC: 7.7k
Best Buy Visa: 3k
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Once you go Berner, you never go back.
Message 11 of 14
Highlighted
Moderator

Re: Cap One CLI Joke

CapOne is great when folks accept them for who they are and stop hoping and praying that they will someday be another Chase, Amex, or even Citi.

They offer a flat no annual fee 1.5% cash back card (that was industry leading at one point). The Venture which is a 2% cash back card with limited redemption and transfer options that comes with a $95 annual fee. Is it great, nope, but again it is what it is.

They are a pretty automated company and that may not be the best for someone looking for a more individualized banking institution.

They extend credit to questionable profiles as well as decline decent profiles...just like any other lender (think Delta Gold with Amex on one hand and any BoA product on the other).

They slash limits just like any other lender when their algorithm no one longer agrees with your profile. Other lenders request tax transcripts and some lenders ask for bank statements or check studs.

Point is, every lender has their ups and down. It’s only emphasized when someone who feels slighted creates a thread about it.

Around here you will find lots of people who has had amazing experiences with a lender and the same amount of folks will have a story about how crappy that same lender is.

Acceptance is the key to peace and harmony in this hobby. To expect otherwise is just setting yourself up for disappointment.

Expecting CapOne to be Amex or Chase by way of products or service is like me expecting my Charger Hellcat to be a Porsche Panamera.
Message 12 of 14
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Frequent Contributor

Re: Cap One CLI Joke

^ +1  My SO and I both opened new cards recently, but with different profiles and at different points in our credit journeys.  Cap1 wasn't even on the radar for me, but my SO was looking to open their first cc w/ sl lates holding down their score.  They didn't want to do secured or have an AF, so Cap1 Plat was perfect.  We're not expecting any significant growth on the card, and it will be replaced when cards w/ more generous limits become open to them, but it's exactly the right card and the right lender for them right now.

Wallet: Chase FU & Disco IT CB
Sock Drawer: Chase Amazon, State Farm GN
TU 817, EX 817, EQ 826
Message 13 of 14
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Valued Contributor

Re: Cap One CLI Joke

Congratulations on your CLIs. But I think a bigger congratulations would be in order if you land a better, non-bucketed card, which you probably can pull off.

Scores, HPs/24 mos. (updated 10/09/20):
    Experian FICO Score 8 = 825, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 815, 1/24
    Equifax = 819, 0/24

Total 2019 rewards, incl. offers/deals = $1,709.07
Avg. rewards rate, incl. offers/deals = 3.92%

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 14 of 14
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