Cap1 Recon Question

[j_casteel]

I orininally applied for the Cap 1 Cash Rewards Card on Sunday June 17, and got immediately denied. I called the backdoor number the next day for a recon. I was told to wait til i got the letter from them explaining why i was denied, and if it was something that they could help on then i could try back.

Well, i got the letter in the mail on Saturday, and it gives me the reason of being denied was due to having too many Capital One cards. I have the Cap1 Platinum and a HSBC/Household Bank/Cap1. If thats the case I am willing to close my HSBC card (1 year old $300 limit & paid off) to open up a "better" Cap1 card. I only plan on keeping the Platinum card with them for another year possibly due to it being the "rebuilding" card with the "steps program" starting at $500 then been at $750 for a year now, that card is ~16mths old. I also just recently applied and got the AMEX Zync card as well.

Just curious as to what you all this about recon with Cap1 and possibly getting a "better" card with them by closing the HSBC/Household/Cap1 card.

Thanks,

John

[j_casteel]

anyone smarter than me with a suggestion?

[SwiftTone]

Call this backdoor number to the senior account managers:  800-707-0489

They can actually speak without a script and discuss options with you and give you a better idea.

With that said, I'd leave Capital One asap for something better when you can.

[injustifiiable]

I wouldn't want to close it without knowing you could get something better.

I'd try one of their partner cards (Sony, PlayStation, Orbitz, MTV Visa). You should be able to add one of these.

Let us know what happens!

[j_casteel]

thanks...

yeah, i applied for the cash rewards card. so if they can't get me that one or PC one of my current cards then i'll just keep the two Cap1 cards for another year then close them out.

[j_casteel]

Well I tried and tried hard. I explained the situation to a CSR from the back door number then asked for his supervisor and explained to him. He told me that even though both cards are reporting as Cap1 on my report that unfortunately there was nothing he could do. Since both report as Cap1 it maxes me out on their cards and I am immediately declined. He said the only way would be to call HSBC and close the account. Then wait for it to report as closed then wait for 45 days to pass and reapply for the cash rewards card. I told him that I doubt I would be doing that. I also had him check for literally anything they could do for my Plat card. He said there's nothing currently available. Lol, so both cards are now paid off and never been late. One is 16mths old the other is 13mths old and only have a $750 and $300 credit limit. I appreciate Cap1 for extending credit to me when I was having a hard time, but if they're unwilling to grow with me then I think within the next year both of these accounts will be getting closed.

[Anonymous]

I think you have outgrown cap one. I am learning from my dealings with them, use them for their purpose - to build credit. dont expect prime card experience from a subprime lender.

[ztnjpv]

The other thing you can do requires more work.

Close the HSBC card right away. Ask for something in writing to be sent to you ASAP (preferrably by email). Take that written proof of account closure and make a copy of it and put it in an envelope and mail it to that Salt Lake address at the top of your denial letter along with a copy of your denial letter and a personal letter by you explaining what happened. In that letter explain that you closed the HSBC account and are providing proof of it to be strongly reconsidered for the Cash Rewards. It wouldn't hurt to add that you didn't realize that your HSBC would be counted as a Cap1 account since you opened it before the merger. Be forceful in your defense yet kind and civil. 

That really may work. I sent in a massive letter packet with about 60 pages of material when I was denied a Cap1 Spark back in March and it worked. It was a convoluted matter with lots of unique details but the process is the same as what you would need to do. It DOES work. Cap1 sucks in many ways. And dealing with recons or almost anything over the phone is one of them....even if you call the Senior account number. They're nearly as impotent with real issues like this as the front line scripted robots with bad accents. 

The one caveat is that they MAY HP you again...all three bureaus. You can add in the letter that you refuse to have another inquiry. I didn't do that. 6 weeks past between my original denial and my recon. I am currently disputing the HPs. No results yet. If the lapse of time has been short enough, you may get it without needing a further inquiry since it's the same application...and they may grant your request for no further HPs if you don't delay.

[j_casteel]

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@ztnjpv wrote:

The other thing you can do requires more work.

Close the HSBC card right away. Ask for something in writing to be sent to you ASAP (preferrably by email). Take that written proof of account closure and make a copy of it and put it in an envelope and mail it to that Salt Lake address at the top of your denial letter along with a copy of your denial letter and a personal letter by you explaining what happened. In that letter explain that you closed the HSBC account and are providing proof of it to be strongly reconsidered for the Cash Rewards. It wouldn't hurt to add that you didn't realize that your HSBC would be counted as a Cap1 account since you opened it before the merger. Be forceful in your defense yet kind and civil. 

That really may work. I sent in a massive letter packet with about 60 pages of material when I was denied a Cap1 Spark back in March and it worked. It was a convoluted matter with lots of unique details but the process is the same as what you would need to do. It DOES work. Cap1 sucks in many ways. And dealing with recons or almost anything over the phone is one of them....even if you call the Senior account number. They're nearly as impotent with real issues like this as the front line scripted robots with bad accents. 

The one caveat is that they MAY HP you again...all three bureaus. You can add in the letter that you refuse to have another inquiry. I didn't do that. 6 weeks past between my original denial and my recon. I am currently disputing the HPs. No results yet. If the lapse of time has been short enough, you may get it without needing a further inquiry since it's the same application...and they may grant your request for no further HPs if you don't delay.

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Geesh, congrats on that. It does sound like a lot of work. They did say for me to even be considered again that i WILL have to wait the 45 day wait between applications. I'm sure if doing something like you did could perhaps give exception, but nothing for sure. I may take that into consideration and work on a packet to send to them, but I'm honestly not sure if Cap1 is really worth the effort (to me). I mean, I feel like I've already done enough, on my part, to explain everything to them and requesting them to reconsider everything under the circumstances. I'm not at their mercy and don't feel like I should have to "prove" myself to them just to get a "better" card. I will just garden for awhile, and see what happens. If nothing, then I will end up closing the accounts sooner rather than later. If they are actually going to work with me and do some auto CLI or PC's then awesome, but I'm not going to put forth effort to them anymore. I plan on keeping the Cap1 cards for another year at the longest and move on from there.

[ztnjpv]

Don't listen to them on the 45 days. Send in a reconsideration letter if you want to try to get the card with the same application you already made. Otherwise, sure, you can just let it go....