Of all the credit card companies, I get pestered by Capital One the most... They also have the worst offers. All my current credit cards have an APR between 18-21... All cashback cards between 2-5% (except my little basic first one I ever got, but still it's APR is only 21%). Capital One? They keep sending me almost daily offers in different packages for the standard, no frills, "Platinum" card... at 25%+
So the answer to "What's in your wallet?" Not a capital one currently... :/ Anyone else get BETTER offers from Capital One?
Capital One likes to send garbage offers to people who have good credit but may not know that they have better options. Other banks do the same thing.
They sent me ads for Platinum for a long time, but when I finally applied for one of their cards they had no problem giving me a Savor with a $20k SL ($500 bonus at the time) with two pulls.
*Consider the costs involved...if 2% of people respond to a no-SUB offer for a lousy card then the printing and postage may be a cheaper way to get customers than paying a cash bonus (and ongoing rewards) on a good card.
The lowest starting CL other lenders have given me was $2000 from Discover, $5000 from Synchrony and $3000 from Amex on my third revolver ($8,000 on my first).
My highest from Capital One was $500.
I keep utilization low. I like knowing that a largish purchase of a few hundred or even a thousand or so can go on any of my cards depending on which is best, without having to worry about going over my limit. I'm going to try to make it work with the Savor One becaue of the 3% on entertainment, which is a big expense for me, but only a few times a year. I'll use it for restaurants to try to build it up, but restaurants are a small expense for me. And I refuse to take 1% cashback when I can get 2%.
Dont feel bad. Im on the road to rebuilding my credit. Started in April. Well I have made good progress and Aspire keeps sending me offers. I wont even tell you what their APR is. Sickening.
Cap one isnt that bad. I burned them on 2 accounts out of 3 I had/have with them. One is of the charge offs is settled in full the other is not settle or paid for and they still approved me for a new tradeline last month. So I can hate on them.
Irony: Aspire is the name Capital One uses in Canada for its rewards cards
(In case you're wondering, 1% back, no annual fee, 2.5% FTF, 19.8% interest)
I've not heard a peep from them ever since I closed my account. The onle reason we communicate now is due to the Walmart transfer.