Tonight I inquired about lowering my interest rate due to a balance transfer offer I took advantage of, and, I was able to lower my interest rate to 15.9 for 7 months. That's for Balance Transfers and Regular purchases.
Capital One is not that bad, I would love to get my hand on one of their premium cards but I can wait it out until the time is right.
Happy Crediting you guys
I currently have two Cap one cards, post BK, and two that went through BK in 2006. They are the only cards I had that prior to the BK didn't CLD me or jack my interest rates because I was missing payments. Citi, BofA, and Chase did everything they could to get as much money as possible. Actually Citi took my $16500 card with a $16000 balance and CLD'd me down to $13000 and started charging me over the limit fees. I filed BK shortly after that.
Cap one was also the nicest to deal with during that time.
I would also like to have one of their better cards, but that will have to wait until my scores are a little higher
They've been good to me. They were one of my first credit cards and have grown with me through the years fairly well. It's still one of my lowest APR's. That said, I don't have much desire to get another one.
I have no problem with the cards...their interest...AFs...all very reasonable IMHO.
What bothers me is the inability to climb the ladder beyond a certain point with them. You would think, from a business model perspective, that they would want to cultivate long-term relationships with good customers, yet they refuse to graduatecertain cards or give even nominal CLIs as a reward for good credit behavior.
They're not THAT bad, but they could be better
I am a fan of Capital One's rewards program (easily redeemable cashback!). I was disappointed when they jacked up my APR during the credit card crisis, but once I paid off my $700 balance and turned the card into a PIF card, they've increased my credit limit and been overall good. Also, I like the variety in card designs
Starting Score: 557 (2005)
@Anonymous wrote:I have a BoA World MasterCard for 3 months (5K initial CL) only ran one purchace thru it on the thrid month, and one week later I requested an additional 5K and it was showing on my online acct in 2 days 10K CL, when Cap1 starts to allow customer initiated CLI's, I will then consider Cap1 a normal CCC, still won't consider them a good CCC, they have pretty bad CS, 95% of the time, I can't even understand their CSR's.
I had my AmEx 2K initial CL 61 days, called and asked for an additional 4K, instant approval to 6K in 61 days. My point to this is, Cap 1 only does "Periodic Reviews" of accounts (so they say) and I want a CCC that's willing to give me a CLI if I need it.
Great for rebuilder cards, but that's about it, they pull all three CRA's when apping for any of their CC's, subprime or prime, and to me, 3 hards for one Prime CC (That's probably going to have a low CL) because "They are Conservitive Lenders" blah blah., just is not worth it to me..
Sorry for the "Rain on your Parade" post, was not my intention, I just have a serious problem with the way Cap1 operates.
However, Congratulation's to you.
I've read, but can't confirm, that this isn't necessarily true for the prime cards. I've read accounts of only one pull, sometimes two, and sometimes all three from the prime products. But definitely seen reports that it isn't always all three. There have also been a few reports of customer initiated CLIs on the prime cards. But the evidence is pretty scant on both counts. We just don't have enough Cap1 customers with the prime products who post to get a sense.