Capital One is Strange

Anonymous · ‎03-06-2008

I have been trying to get Capital One to give me a soft pull CLI for a month. In my mailbox today, I receive a pre-approved personal loan offer for 5-10K from them. My current CL is 500 on the CC. Is Capital One always this crazy?

Anonymous · ‎03-06-2008

mogo wrote:
I have been trying to get Capital One to give me a soft pull CLI for a month. In my mailbox today, I receive a pre-approved personal loan offer for 5-10K from them. My current CL is 500 on the CC. Is Capital One always this crazy?

Basically, yep. With the low limit cards, anyway.

They can be pretty good as long as they haven't stuck you in their "sub-prime" box. It can be very difficult to get out if it.

Anonymous · ‎03-06-2008

How do you know if you are in the "sub-prime" box

Anonymous · ‎03-06-2008

mogo wrote:
How do you know if you are in the "sub-prime" box

Did you get a $300 card that eventually went to $500 after 3 months or so, or did you get one with $500 that eventually went to $750?

If so, you have one of their sub-prime cards. (I am stuck with one as well.) Some of these cards are never eligible for CLI, and some will only go up to a max of $3K, no matter how much your credit has improved or how high your other CLs are. It seems the only way around this is to get a better "Above Average Credit" or "Excellent Credit" card from them with a higher CL once you qualify, and then combine your CLs.

Anonymous · ‎03-06-2008

I have one that went from 300 to 500. I have had it for a couple of years and never really thought about it until recently. When I got it, I thought it would improve with my scores, but my scores took a hit when my child was in the hospital for 4 months and then I got a type of leukemia the next year. I just finally decided in the last few months to take my head out of sand.

So, basically this card is probably stuck at 500. I called the back door number for Cap1 and they said that I would eventually get CLI's. I guess they forgot to mention I might be 90 by then

Thanks for your feedback

Roodog2k · ‎03-06-2008

I got my Cap1 card in 1998/1999 or so. I don't know what my credit score was, but I had about $9k in CC debt. I had a car loan, but I was renting. No lates, no baddies on my report.

I got the card because it had a 9.9% fixed rate on it, but I was suprised that when I first got it that I had only a $500 limit, despite having $5000+ limits on my Citibank cards. I used the card to buy gas so I wouldn't have to carry cash on me, prior to getting a Debit Card.

Well, one day, I checked the bill and they raised my limit to 5k. I don't rememeber how long that took, though.

cheddar wrote:

mogo wrote:
How do you know if you are in the "sub-prime" box

Did you get a $300 card that eventually went to $500 after 3 months or so, or did you get one with $500 that eventually went to $750?

If so, you have one of their sub-prime cards. (I am stuck with one as well.) Some of these cards are never eligible for CLI, and some will only go up to a max of $3K, no matter how much your credit has improved or how high your other CLs are. It seems the only way around this is to get a better "Above Average Credit" or "Excellent Credit" card from them with a higher CL once you qualify, and then combine your CLs.