I keep getting this letter sent to me, saying I am pre approved for the card below. Is this a good card I have higher value prime cards and do not want to app with them if we are talking the typical low balll capital one 500.00 starting limit that I have read on the forums and experienced myself about 4 years ago with them. That was a quicksilver one card and I immedialty canceled over the phone when I saw that limit. Now we are 4 years later and they tell me I am pre approved for their Captial One Platinum card. I went to the website and it is not one of their top tier cards but has a lot of good reviews but offers nothing it's just credit not rewards and has a high azzzzzz r=24% rate.
@Anonymous wrote:
@kaw943 wrote:I keep getting this letter sent to me, saying I am pre approved for the card below. Is this a good card I have higher value prime cards and do not want to app with them if we are talking the typical low balll capital one 500.00 starting limit that I have read on the forums and experienced myself about 4 years ago with them. That was a quicksilver one card and I immedialty canceled over the phone when I saw that limit. Now we are 4 years later and they tell me I am pre approved for their Captial One Platinum card. I went to the website and it is not one of their top tier cards but has a lot of good reviews but offers nothing it's just credit not rewards and has a high azzzzzz r=24% rate.
So you canceled a card over a SL? You didn't care about the HP?
No I didn't care about the hard pull at that time I had like 3 all year and I was sort of new to credit, however I was not going to keep that card with that low amount when I had a chase freedom with a SPL of 5k . When I called them they were like sorry we can't increase it and it seemed like the reps had no power there to do crap so I asked the dude to cancel it and asked him to not send me a card. I later disputed the hard pull and about 2 months later it was removed.
@Anonymous wrote:
@kaw943 wrote:I keep getting this letter sent to me, saying I am pre approved for the card below. Is this a good card I have higher value prime cards and do not want to app with them if we are talking the typical low balll capital one 500.00 starting limit that I have read on the forums and experienced myself about 4 years ago with them. That was a quicksilver one card and I immedialty canceled over the phone when I saw that limit. Now we are 4 years later and they tell me I am pre approved for their Captial One Platinum card. I went to the website and it is not one of their top tier cards but has a lot of good reviews but offers nothing it's just credit not rewards and has a high azzzzzz r=24% rate.
Many consider it one of the lower tier cards. If you look on Cap 1 website, it is under their "avg credit" cards, with one of their higher APR and no rewards, but no annual fee. So, many people with better credit tend to go for the Quicksilver or Venture, some start out with these cards wiith $5K and $10K limits.
That being said, when I started rebuilding 2 years after my BK7, I received the Quicksilver 1 (lower version of Quicksilver), with a $3K SL. The QS1 is in the same "avg credit" bracket as the Platinum. So, I guess it is possible to get a bigger limit than just $500 with the card. But YMMV.
Edited to Add: If you may be interested in a higher tier Cap 1, check their Pre-approval/Pre-qualification page on their website for a Quicksilver or Venture pre-approval. It is a SP and does't affect your credit. Many on MyFico have said that the offers there are pretty solid.
And that is the problem I am not rebuilding maybe they think I am however my credit profile for the last year has had all three fico scores at 740 and none have dropped below 715. I know that is not excellent by anymeans as the word good isn't good enough now a days seems like you have to be close to 800 to get respect from these banks at least this one. I knew that it was their average so I assume that my scores with just 13% utilization across all bankcards is considered boarderline. I feel this is a constant game of pay this use this and you never make to where you are excellent just avg or good but those two don't get you everything. Hell I had chase tell me last week you only make 90k a year and have almost 100k of credit avail why do you want us to increase the limit on the ritz card, I wanted to say are stupid but I digress.
@kaw943 wrote:
@Anonymous wrote:
@kaw943 wrote:I keep getting this letter sent to me, saying I am pre approved for the card below. Is this a good card I have higher value prime cards and do not want to app with them if we are talking the typical low balll capital one 500.00 starting limit that I have read on the forums and experienced myself about 4 years ago with them. That was a quicksilver one card and I immedialty canceled over the phone when I saw that limit. Now we are 4 years later and they tell me I am pre approved for their Captial One Platinum card. I went to the website and it is not one of their top tier cards but has a lot of good reviews but offers nothing it's just credit not rewards and has a high azzzzzz r=24% rate.
Many consider it one of the lower tier cards. If you look on Cap 1 website, it is under their "avg credit" cards, with one of their higher APR and no rewards, but no annual fee. So, many people with better credit tend to go for the Quicksilver or Venture, some start out with these cards wiith $5K and $10K limits.
That being said, when I started rebuilding 2 years after my BK7, I received the Quicksilver 1 (lower version of Quicksilver), with a $3K SL. The QS1 is in the same "avg credit" bracket as the Platinum. So, I guess it is possible to get a bigger limit than just $500 with the card. But YMMV.
Edited to Add: If you may be interested in a higher tier Cap 1, check their Pre-approval/Pre-qualification page on their website for a Quicksilver or Venture pre-approval. It is a SP and does't affect your credit. Many on MyFico have said that the offers there are pretty solid.
And that is the problem I am not rebuilding maybe they think I am however my credit profile for the last year has had all three fico scores at 740 and none have dropped below 715. I know that is not excellent by anymeans as the word good isn't good enough now a days seems like you have to be close to 800 to get respect from these banks at least this one. I knew that it was their average so I assume that my scores with just 13% utilization across all bankcards is considered boarderline. I feel this is a constant game of pay this use this and you never make to where you are excellent just avg or good but those two don't get you everything. Hell I had chase tell me last week you only make 90k a year and have almost 100k of credit avail why do you want us to increase the limit on the ritz card, I wanted to say are stupid but I digress.
If you're at 740 then you're right, you're certainly not rebuilding. 
If you check Capital One's prequal site you'll likely find you have an offer for a Venture or Quicksilver at a better rate than the offer you were mailed. The APRs given on the prequal site are generally solid; most reports are that you end up with what it offers, and I did as well.
Capital One is a great card to have, at least in my opinion (you'll find people in both camps on here). That being said, they certainly aren't the only game in town; I think some of the other posts have given other suggestions already. If you are interested in a Capital One product, be aware that you'll probably get the highest SL with a Venture, and that before the first AF is due you can likely PC it to a no-AF Quicksilver; had I known this two years ago I would have apped for Venture instead of the QS (the Venture new account bonus is better as well).
Finally, remember that all Capital One applications for their non-cobrand cards come with a HP on each credit bureau, referred to as the "triple pull" by many around here. To me it was worth it, but some people who feel this is too much for one credit card. Again, there are many people with both opinions, and you'll have to decide what's best for you.
Good luck no matter what you decide! 