Cut up your Capital One Card NOW

[Anonymous]

Agreed with shadowfactor - there are many others with comparable or better cards that don’t triple pull your reports for the privilege of extending low limits and crappy CLIs.

Side note, unrelated: @i-like-pizza, that Zion’s Bank card design looks fantastic!

[CreditInspired]

OP
3 yrs is a long time to have a secured card. Have you tried applying to Disco?

Let me share a story that may ease your frustration. I got a Cap1 card in 2002 (it’s still on my credit report) with a $300 CL. I closed it in 2010 because it had only been increased to $500 and I was being charged an AF. Here is the wonderful thing. Now, I keep getting preapprovals for their CCs. And even though I like the sound of the Savor, nothing will make me give them a second chance. Not that Cap1 cares, but it’s my own little private enjoyment and personal win. It’s little, I know it’s silly, but I feel good about being able to say no to them.

One day you’re going to feel the same way. There’s a saying, “This too shall pass.”

And there are definitely more fish in the sea.

I hope you’ll get over your negative feelings toward them soon. It’s really not worth the energy.

[Anonymous]

Never had a problem with my cap1. Actually they were the first one to give me 10k starting CL

[Anonymous]

I couldn’t even tell you what my APR’s are. I think I’d throw myself off a bridge if i were to obsess over that stuff.

At any rate, cancel the card if you don’t like Cap One. Of course as soon as you cancel, 100 other people will apply for some sort of Cap One card, so its not like you’re punishing them.

[Kforce]

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@Anonymous wrote:

If I cut up a card every time someone on this forum had an issue with a lender then I would have zero cards, lol.

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+ 100

All my cards are ones many on this forum dislike.

Have seen negative reviews about almost every card, and someone else who loves it.

[CGeorge]

Interest rate means absolutely  nothing is you pay as before the next statement us generated. 

[CGeorge]

I have no idea what my interest rates are either. I know which cards have a promotional 0% going, so I use them for purchases that I may want to spread across two or three months. But as for the other - I have no idea what the interest rate is, as I pay in full upon posting....

[Anonymous]

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@Cleaningitup2016 wrote:

Their customer service is terrible.

Long story short..I've had a secured card with them 3+ years. They have given me a CLI ONCE...of $300. Always paid on time.

My interest rate has climbed from 24.9% to 26.99% since opening the account.

I filed a complaint with the EO and had to wait a week for someone to finally call me back..just to tell me they can't do anything.

They blamed "rising prime rates", but I quickly pointed out none of their other secured cards offered by other banks has as high of APR. They pretty much said "oh well".

26.99% on a major CC is a JOKE. Most STORE cards are only a few % higher APR.

I have called them for over a year, they read the same line every time "just keep checking back if we can lower your APR."

3 years is a heck of a long time.

As soon as I get them down to 0% the CC is getting cut up. I suggest everyone here does the same!

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So you had bad credit and Capital One gave you a card and now everyone is supposed to cut up their cards because you’re stuck with that starter card?

Get another card. 

[Anonymous]

Nah. I’ll keep mine. APR is meaningless to me as I PIF more than once a month. There are many threads with people frustrated by Cap 1’s stingy CLI behavior and no recon policy. I wish I had a higher CLI too, but it’s no reason to rage-shred my card. Hope your future experiences with other lenders go better for you.

[800FICOGoal]

I will keep mine as well. I have a $0 balance on my Cap1 Plat. I only use the card occasionaly to keep it alive. It's sole purpose is to build credit history.

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@Remedios wrote:

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@JaseT wrote:

The solution is simple: pay in full, don't carry balances. Suddenly that APR doesn't mean anything. 

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Some people cannot do that. Suddenly, APR is everything. 

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If someone can't afford to pay the balance on a secured card, then I would say there's a problem.