Capital One cards

[SouthernCredit]

Due to account combinations (when that was a thing), I only have one Cap1 card left, and it's still one of my lowest limits. They have not granted a CLI on that card in almost 4 years. I use it to pay an annual subscription and it sees no use the rest of the year. I only keep it open because of the history, no annual fee, and because I car shop a lot, and that history with Cap1 (cards and car loans) gets me solid prequals when I shop. They are great for rebuild, and for some they do well after, but. Think there are better lenders out there long-term. 

[Trini88]

Do I like them? No

Have they served me well? Yes

The money back on grocery, dining, internet bill and dummy number for websites I don't trust is the only reason I keep these 3 cards. My husband paid off both his Capital One cards and they increased both by $100 😬

[MasonK]

---

@Carloscda40 wrote:

For those that have Capital One crads do you like them?

Have they served you well?

I have 2 QS & the Platinum with just $500 limits, was going to pay them off next week.

Would that help me to be considered for a higher limit or better CO or other credit cards?

---

The Platinum/PC'd QS served its purpose for me as my first unsecured card during rebuild. I like CapOne overall and the QS served its purpose, but I grew into other lenders that serve me better. That being said, if you like the brand, CapOne can grow with you and has some decent no-AF cashback options and now has the Venture X as a decent travel card. 

The important question you should ask is where you are in your credit profile, and what are your goals? Knowing that can influence what your next steps should be.

[Anonymalous]

Capital One gave me an unsecured card when I had no credit. The virtual cards are great, and redeeming points/cashback is as easy as it gets, with none of those annoying minimums. There are occasional special offers that are useful, but not enough to budge the dial. Their customer service, IME, has been good. It was before my time, but apparently the 1.5% CB on the QS when it came out was revolutionary, though it now lags the pack of 2% cards. They have other attractive cards like the Savor One and Venture X.

But while I was able to upgrade my Platinum to a Quicksilver, it seems stuck at $300. Watching the limit, watching utilization, and paying it off multiple times a month, is a pain. Since my second card has a limit more than 50 times higher, I've largely stopped using my QS except for a minor recurrent payment and on websites that I don't trust with my real card number.

So I like them and wouldn't have minded giving their card significant use over the long term. But my card hasn't grown with me, so it's effectively sockdrawered.

[MasonK]

---

@Anonymalous wrote:

Since my second card has a limit more than 50 times higher, I've largely stopped using my QS except for a minor recurrent payment and on websites that I don't trust with my real card number.

I don't keep tabs on CapOne for this reason, and we have the same philosophy about the QS card. However, off the top of your head, do our subprime buckets on these cards influence the prime card limits if OP were to go after a Savor card (assuming qualifying scores)?

[lgtwriter]

One thing I have found with my CapOne cards is that they expect you to use them frequently if you want a cli. Right after my bankruptcy in Dec 2009, when the only Visa and Mastercards I had were two CapOne platinum cards and my Merrick Bank Visa, I received frequent cli on the CapOne and Merrick cards because I would use them all the time, and pay them off. Once I had other cards, I stopped using these cards as much and the cli slowed down considerably. (and stopped in the case of one of my CapOne cards and the Merrick card once I hit their max credit limit of 5k)

[MasonK]

---

@lgtwriter wrote:

One thing I have found with my CapOne cards is that they expect you to use them frequently if you want a cli. Right after my bankruptcy in Dec 2009, when the only Visa and Mastercards I had were two CapOne platinum cards and my Merrick Bank Visa, I received frequent cli on the CapOne and Merrick cards because I would use them all the time, and pay them off. Once I had other cards, I stopped using these cards as much and the cli slowed down considerably. (and stopped in the case of one of my CapOne cards and the Merrick card once I hit their max credit limit of 5k)

---

That was the case for me, too, but in looking around the recent posts about CapOne, I'm wondering if they aren't hitting the brakes even on people with high velocity of charges. I certainly haven't had the swipes to merit a CLI in many years.

[Anonymalous]

---

@MasonK wrote:

---

@Anonymalous wrote:

Since my second card has a limit more than 50 times higher, I've largely stopped using my QS except for a minor recurrent payment and on websites that I don't trust with my real card number.

I don't keep tabs on CapOne for this reason, and we have the same philosophy about the QS card. However, off the top of your head, do our subprime buckets on these cards influence the prime card limits if OP were to go after a Savor card (assuming qualifying scores)?

---

I don't believe so. The reason why Capital One cards are bucketed is because the banks sell off the debt. The cards are grouped by risk (sub to super prime), and offered to the market at various premiums based on risk vs. reward. It's very hard to shift a card between these groups, after it's been sold, which is why cards get bucketed. But they do it by card not by person, which is why there are tons of DPs of people with a bucketed card with a pathetic limit applying for a different card (or even the same one), and getting an amazingly high limit. See link below for details on securitization.

https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-w...

[Carloscda40]

Thanks for all the replys!

So I'm on my rebuilding journey and trying to get my scores mid 600's and more by the end of the yr.

I have the Cap One Plat & QS that was issued with the credit steps program, both now @ $500 sl. I also have a auto loan with them.

Others cards that I have:

2 Credit one cards $700 sl on each

Discover IT $750

Surge $1000

Merrick $1400

Macys $1200

Plan is with OT starting, to pay down those cards to bring utilization to undre 20%, right now it's over 80%.

With paying those cards down and paying off the Cap 1 cards being they are my oldest and lowest accounts would I be offered better Cap 1 cards/try to app for their prime cards?

[FinStar]

---

@Carloscda40 wrote:

Thanks for all the replys!

So I'm on my rebuilding journey and trying to get my scores mid 600's and more by the end of the yr.

I have the Cap One Plat & QS that was issued with the credit steps program, both now @ $500 sl. I also have a auto loan with them.

Others cards that I have:

2 Credit one cards $700 sl on each

Discover IT $750

Surge $1000

Merrick $1400

Macys $1200

Plan is with OT starting, to pay down those cards to bring utilization to undre 20%, right now it's over 80%.

With paying those cards down and paying off the Cap 1 cards being they are my oldest and lowest accounts would I be offered better Cap 1 cards/try to app for their prime cards?

---

Since you mentioned you're still on the path to rebuilding, I would focus on improving the overall profile + getting the utilization down to acceptable levels. As your scores improve perhaps look to other opportunities. 

If you want to stay in the Capital One ecosystem, that's fine, but consider your options once your profile has made significant improvements. While the Savor/Savor One or Venture cards can be lucrative for some individuals, you can always evaluate things at some point. Perhaps those can make sense based on your spending habits or it's likely you'll find other products that may be a better fit.