Capital One

[JayRizzo]

Hey do you recall if you and your sister selected "Average" or "Excellent" credit while applying online?

[DI]

Capital One needs to start upgrading long-time cardholders accounts.  They rather for us to apply for new accounts and stick us with another low credit line card despite having excellent credit.  Then they rather hurt cardholders credit scores by pulling all three credit reports rather than use the report(s) that they review every month during an account review. 

[keith021]

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@JayRizzo wrote:

Hey do you recall if you and your sister selected "Average" or "Excellent" credit while applying online?

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We both selected "Excellent" credit. After a few moments, a list with a few cards we most likely would be approved for appeared with the most likely one at the top.

[climbinghigher]

I received an offer from Cap One after 4 years into a bk. I applied and  received a card with a 200.00 limit. They gave me automatic 100.00 increases over a period of about 2 years. Then one day they sent me checks and raised me to 1500. That was about 8 years ago and no increase since. I received an offer  09/2010 for a rewards and was approved for 500.00. On 02/2011 they raised it to 750.00. I have been with them for 12 years, never late, never over limit and pay off every month.

[JayRizzo]

Most of you already know that I, personally, do not like "any" lending institution because I saw the way they treated customers about a year ago and now acting like it never happened and have customers beating down their door and calling recon numbers begging to acquire their products.  But, we must live and interact with them each day.

I'm not here to defend any company, but to give good advice to new members seeking assistance.  But let's all be aware that lenders are "not" obligated to give us anything at all???  It appears some people have the notion that they are entitled to the universe because they are doing what we are already supposed to do... pay our bills. 

[vish1]

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@JayRizzo wrote:

Most of you already know that I, personally, do not like "any" lending institution because I saw the way they treated customers about a year ago and now acting like it never happened and have customers beating down their door and calling recon numbers begging to acquire their products.  But, we must live and interact with them each day.

I'm not here to defend any company, but to give good advice to new members seeking assistance.  But let's all be aware that lenders are "not" obligated to give us anything at all???  It appears some people have the notion that they are entitled to the universe because they are doing what we are already supposed to do... pay our bills. 

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+200

In addition to this, we need to understand how to pick our friends, do you pick incompatible people for your friends and then expect them to change for you? They (cap1, orchard, chase, amex, bofa .....) have are all different CCCs like different people and everyone runs business in a different way, we (any one looking for credit) need to do all the due diligence before you click the apply/submit button.

I feel it is absolutely unfair to expect a CCC to give you more credit just because someone else who has a different business model did. Offcourse it's a good data point and worth a discussion with the CCC but IMHO can not qualify to become an expectation.

[JayRizzo]

I agree, Vish1, and couldn't have said it better! 

[DI]

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@JayRizzo wrote:

Most of you already know that I, personally, do not like "any" lending institution because I saw the way they treated customers about a year ago and now acting like it never happened and have customers beating down their door and calling recon numbers begging to acquire their products.  But, we must live and interact with them each day.

I'm not here to defend any company, but to give good advice to new members seeking assistance.  But let's all be aware that lenders are "not" obligated to give us anything at all???  It appears some people have the notion that they are entitled to the universe because they are doing what we are already supposed to do... pay our bills. 

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How are they suppose to remain in business and keep the shareholders happy with that type of notion?

[vish1]

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@DI wrote:

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@JayRizzo wrote:

Most of you already know that I, personally, do not like "any" lending institution because I saw the way they treated customers about a year ago and now acting like it never happened and have customers beating down their door and calling recon numbers begging to acquire their products.  But, we must live and interact with them each day.

I'm not here to defend any company, but to give good advice to new members seeking assistance.  But let's all be aware that lenders are "not" obligated to give us anything at all???  It appears some people have the notion that they are entitled to the universe because they are doing what we are already supposed to do... pay our bills. 

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How are they suppose to remain in business and keep the shareholders happy with that type of notion?

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Shareholders/investors only understand the Profil / Loss part of the business, they dont care how you run business.

[JayRizzo]

I'll even use Cap-1 in this example.  Yes, they will give low limits to many, but are not obligated to increase and so far they've remained in business.  They have multiple products and entice the greed of the customers by suggesting to apply for a new card.  It sounds stupid, but is actually one heck of a business model for them to get more revenue from those who fall pray to it in hopes of getting a higher limit just to be disappointed when their new line is low.  I'm sure their stakeholders are very happy!

Absolutely right, Vish1

Also, one of our members have a great signature line that states something like "...it's only a business transaction..."  Sorry, if I can't quote it word for word, but lenders don't give a rat's patootie about the well-being of it's customers -- we've seen their true colors about a year ago!!!

Check out the Card Game and see if you still feel the same about lenders:  PBS Frontline  http://video.pbs.org/video/1342007771/