Capital One and ING Direct

[Anonymous]

So I just found out about Capital One's purchase of ING Direct: http://bucks.blogs.nytimes.com/2011/06/22/capital-ones-response-to-outrage-over-ing-direct-purchase/

Wondering if anyone here uses both? Or uses ING and is thinking about jumping ship because of the Cap One takeover? (I'm already an ING user and love them, not sure if I should be worried or not.)

Is Capital One really all that bad? They're still high up on my list for my first secured CC application, but I'm wary.

[MarineVietVet]

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@tk777777 wrote:

So I just found out about Capital One's purchase of ING Direct: http://bucks.blogs.nytimes.com/2011/06/22/capital-ones-response-to-outrage-over-ing-direct-purchase/

Wondering if anyone here uses both? Or uses ING and is thinking about jumping ship because of the Cap One takeover?

Is Capital One really all that bad? They're still high up on my list for my first secured CC application, but I'm wary.

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You'll get different opinions and experiences but none of that can dictate how your particular situation will work out.

Cap 1 gave me a card in the middle of my BK when no one else would and I've always been grateful for that. They are now my oldest card at almost 14 years. I've had no better or no worse experiences with Cap 1 as I have with BoA, Citi, Discover, or any other issuer I've dealt with.

All of them are just tools as far as I'm concerned. Tools to help me manage my credit. Don't let anyone (including me) talk you into or out of applying for any card. Take your time and do the research to figure out what will help and grow with you;

Just my 2 cents. 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[jefftca925]

I have accounts with ING (checking, saving, PLOC) and have a business CC with Capital One.  I'm not crazy about Cap1 but I don't think the merger would make me wanna jump ship.  As long as it doesn't cost me any more $$ I'll be fine.

[seruby]

UGH, capital one AGAIN!     While I know I said in a different forum that I refuse to do anything with capital one, I've been with ING since 2004 and pretty happy with them.  If there is no indication that capital one owns them (i.e. the site remains the same, the cards still say ING direct, etc.) and fees don't start getting charge, I'll stay with it.

[tinuviel]

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@Anonymous wrote:

So I just found out about Capital One's purchase of ING Direct: http://bucks.blogs.nytimes.com/2011/06/22/capital-ones-response-to-outrage-over-ing-direct-purchase/

Wondering if anyone here uses both? Or uses ING and is thinking about jumping ship because of the Cap One takeover? (I'm already an ING user and love them, not sure if I should be worried or not.)

Is Capital One really all that bad? They're still high up on my list for my first secured CC application, but I'm wary.

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There's a wide variety of opinion on this, so YMMV. I've had nothing but good experiences with them. They gave me a card when I was rebuilding my credit not once, but twice. They are notorious for giving out small limits and slow to raise them, if ever. But, once I got my act together and started managing my credit better, they turned around and gave me a very generous CLI. OTOH, some folks manage their credit well and never wind up with an increase.

Other than the CL issue, I've found them to be very easy to work with. I always call the backdoor number listed on the sticky thread, and have found them to be unfailing polite and helpful. I also think that they have a really easy to use and feature rich website. Payments post overnight and I can pay as often as I want throughout the month, making it easier to deal with the smaller CL. Plus, one of my cards offers me cash back, which is unusual for a rebuilder card.

So, all in all I really like Cap1. But, that's my opinion based on my experience. As already stated, YMMV.

[Cranston]

Whilst I dont like the way they run their CC business, I have a small business checking with C1 and they have been fine.

[BluMoon]

I'm taking a wait and see approach.

[slarano]

I have pulled my primary checking account handling from ING, and am at 0 balances with my two Capital One cards. I'm basically waiting for another year or so when I can pick up another Prime card, and I'll be rid of Capital One for good. Until then, I'll appease them by ringing dinky dollar or so charges on their cards and PIF the same week. 

[tubesock]

I am also an ING direct customer. I am also an Ally customer. Ally's interest rates are higher so I just linked my accounts Thursday and transfered all my ING savings to Ally. They have an 11month NO Penalty CD at 1.14% whereas I was only getting 1% at ING on my savings. Their savings account rate is 1.04 APY so I did the math and switched!

I do also have a Capital One CC but out of all the ones I have (Amex, Citi, NFCU, DCU, etc.) I like them the least. They do give you a chance when you have lower scores but, IMO, they always treat you like your scores are low and they're stingy with CLI's. 

[slarano]

The only thing I wish Ally had that ING does is the overdraft line of credit. But yes, I have Ally as well and I do enjoy their no-fee ATM transactions (something ING doesn't have). And yes, I recently moved my checking and savings to Ally as well.