Cap One shows no love

[bichonmom]

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@Walt_K wrote:

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@CS800 wrote:

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@Walt_K wrote:

You should just move on.  You and Cap One have different agendas.  I can't wait to cancel them myself.  But I want to wait until I get my mortgage because right now Cap One is my only non-Amex other than my debit card.

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Which cap one do you have?

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It's a classic platinum mastercard with a $39 AF.  It was the first card I got when I started rebuilding. 

I still have a beef with Cap One because I had a No Hassle Miles card or something like that with no AF.  When I fell behind, they closed the account out.  But I had 46K miles which I could have redeemed for a statement credit.  They won't let me redeem the miles because the account is permanently restricted.  Every time I log on to monitor the classic platinum, I still have to see the other account with those 46K miles.  If I had just thought to redeem them before I fell behind on payments, it wouldn't be an issue.  But when I should have been redeeming those miles, I was foolishly spending my time worrying about other things, like finding a job so I could pay them back.  Since I paid them back, in full, along with all late fees, and mostly at 30% interest, I thought they could have at least let me redeem the miles.  No dice.  That's fine. That is their decision and they are not violating any terms of our agreement.  But I don't have to keep doing business with them.  So, as soon as I can get another MC or Visa, I will be closing down this Cap One card and never doing business with them again.   

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I wouldn't be doing business with them either if I were in your shoes. They're really not very customer-service oriented at all.

[bichonmom]

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@CS800 wrote:

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@johnnie198x wrote:

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@bichonmom wrote:

Cap1: 877-513-9959 (Account Retention?)

This is the # I called.

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I just called this number, and somehow the department was Rewards, lol, but she transferred me to a Senior Account Specialist. We spoke for 5 minutes about the good card with no FTF, no AF, no hassle cash back. I explained that I have $20,000 chase freedom and 3 other cards with limit of $5,000 each and my Crap1's limit is $1,750. She put me on hold to review the account and came back: "You're a good customer with nearly 3 years of history, always make full payment. Although the card is a credit building card, its limit can go up to $5,000 (because I said I wanted at least 5,000?). I submitted the CLI request for you, but it didn't go through,...." So customer initiated CLI is still not available.

I'm sorry Crap1 but you're no longer sexy to me. I used the card extensively until September when I got the 20,000 Freedom. Now, I put $2,000 (around 70 transactions) every month through it.

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I got the same answer as you. She said Cap One reviews your account every 6 months. I asked her since I have been an outstanding cutomer, how come no CLI?

She said I don't know but let me tell you the great benefit of your card. I politely declined the explanation as to why my card wit hteh $500 CL is awesome.

She asked if I had other cards with higher limits. My Discover is not reporting yet but has $6500 CL. At this point i decided to end the conversation. But i'm eagerly anticipating the detailed letter from Cap One explaining why I was declined. Oh Gosh I'm trying to contain myself from this excitement.

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I had an interesting phone call today w/the credit card dept of my CU. He said that banks like Cap One (he actually mentioned Cap One by name) WON'T give CLIs when you pay your balance in full each month. He said that they aren't making any money off of us when we PIF each month. He said that if you carry a balance (while of course, paying on time), they will keep giving you CLIs. I can't vouch for his accuracy, but given how many people here post that they PIF each month, if not several times a month, and can't get a CLI from Cap One, he could be right.

[johnnie198x]

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@bichonmom wrote:

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They don't HP for CLIs. Only soft. They only HP when you app for a new CC.

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If you were trying to correct me, sorry I wasn't wrong. I didn't say I think they HP. They DID HP me for all three times, and I have proof. Not one, but three times in the past year. If they soft me, I wouldn't hate them this much.

[bichonmom]

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@johnnie198x wrote:

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@bichonmom wrote:

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They don't HP for CLIs. Only soft. They only HP when you app for a new CC.

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If you were trying to correct me, sorry I wasn't wrong. I didn't say I think they HP. They DID HP me for all three times, and I have proof. Not one, but three times in the past year. If they soft me, I wouldn't hate them this much.

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Well, if they did that, then I would call and complain to management. I was specifically told my several reps, including their retention dept. that they only soft pull for CLI requests. I'd call and not mention the past, and ask if they HP for CLI requests. And when they say, "no," then I'd lower the boom and tell them that they did that on your credit report and that you want them removed. They have the ability to remove the inquiries. Whether they will or not is another story, but I'd at least try... A LOT. I'd go over people's heads until I got some satisfaction. You may also want to write a letter to their corp. office and firmly request that they remove those inquiries.

I'm definitely NOT a fan of Cap One. At this point for me, they're like a necessary evil. I'm grateful that at least it's given me a foot in the door to rebuilding. But beyond that, I'm not reallly expecting much based on what I've read here.

[johnnie198x]

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@bichonmom wrote:

Well, if they did that, then I would call and complain to management. I was specifically told my several reps, including their retention dept. that they only soft pull for CLI requests. I'd call and not mention the past, and ask if they HP for CLI requests. And when they say, "no," then I'd lower the boom and tell them that they did that on your credit report and that you want them removed. They have the ability to remove the inquiries. Whether they will or not is another story, but I'd at least try... A LOT. I'd go over people's heads until I got some satisfaction. You may also want to write a letter to their corp. office and firmly request that they remove those inquiries.

I'm definitely NOT a fan of Cap One. At this point for me, they're like a necessary evil. I'm grateful that at least it's given me a foot in the door to rebuilding. But beyond that, I'm not reallly expecting much based on what I've read here.

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Yes, it makes sense that CLI should only soft, but in my particular case, they screwed up. Now that I no longer need their business, I don't want to waste my time over 3 inquiries. Of course, I would be happier if I had higher CL, which means more interest-free loan.

[redwalker2929]

I would strongly advise against applying for another capital one!!  Your credit score does not support getting one of their prime card...like venture card.  What exactly is your credit situation?  Im thinking BoA or possible discover depending on your credit.  Be prepared to call the BD number for reconsideration if your denied.  Also,  have an idea of what your going to tell the credit analyst but don't be afraid!! State a strong case and let them think they would be crazy not to extend you credit!!   ( maybe something like...I have a large turnover on my cards and my ultimate goal is to obtain a mortgage through your bank.)

Good luck!!

[laz98]

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@bichonmom wrote:

I had an interesting phone call today w/the credit card dept of my CU. He said that banks like Cap One (he actually mentioned Cap One by name) WON'T give CLIs when you pay your balance in full each month. He said that they aren't making any money off of us when we PIF each month. He said that if you carry a balance (while of course, paying on time), they will keep giving you CLIs. I can't vouch for his accuracy, but given how many people here post that they PIF each month, if not several times a month, and can't get a CLI from Cap One, he could be right.

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that hasn't been my experience, but i sure wish it was!    this will be my last year with capital one.

[haulingthescoreup]

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@laz98 wrote:

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@bichonmom wrote:

I had an interesting phone call today w/the credit card dept of my CU. He said that banks like Cap One (he actually mentioned Cap One by name) WON'T give CLIs when you pay your balance in full each month. He said that they aren't making any money off of us when we PIF each month. He said that if you carry a balance (while of course, paying on time), they will keep giving you CLIs. I can't vouch for his accuracy, but given how many people here post that they PIF each month, if not several times a month, and can't get a CLI from Cap One, he could be right.

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that hasn't been my experience, but i sure wish it was!    this will be my last year with capital one.

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I suspect that this might well be true of rebuilder-level cards. They know you're at their mercy for now, so they'd love to get some interest expense out of you.

I haven't found it to be true of the better cards, though.

[Anonymous]

No luv for both of mine either. Just initial credit steps 200 after 3 months. Close to two years, multiple requests, no luv!