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DONE with Cap One

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Valued Member

Re: DONE with Cap One

Thanks, everyone.  Cap One obviously has no plans to show me any love, despite my high credit scores and perfect payment history.  Decided today to app a second AMEX card; used the pre-qual tool and chose one of the plethora of cards I was pre-approved for.  15 seconds later I received my approval with a 20K limit (and no hard pull).

 

Thanks for nothing, Cap One - your bucketed card with the paltry $850 CL is going in a drawer.

Message 21 of 31
Moderator Emeritus

Re: DONE with Cap One

Likely you have read around on Capital One and know by now that they do not seem to like all profiles and some people with low scores do well and those with high scores not so well. I would say a YMMV situation at best.

 

For myself, I had a Capital One Platinum MasterCard with a steps credit limit of $750 that never grew over eight years (too long). Needless to say, I recognized Cap1 for giving me a start and I closed their cards and moved on.

 

Also, there are so many great cards in the market place that can be had for one pull from one credit bureau why take three? Further, many lenders will actually entertain credit limit increases!


Really know you knew all this so I am only reinforcing your already acquired knowledge! Smiley Happy

Starting Score: 000
Current Score: 850
Goal Score: 850


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Message 22 of 31
Valued Member

Re: DONE with Cap One


@Shooting-For-800 wrote:

Buckets are real but they bucket the card not the client.


How does that work?  I have a CapOne platinum with a CL of a bit over $100k.  

Message 23 of 31
Super Contributor

Re: DONE with Cap One


@O_G wrote:

@Shooting-For-800 wrote:

Buckets are real but they bucket the card not the client.


How does that work?  I have a CapOne platinum with a CL of a bit over $100k.  


The comment is intended to say Capital One could bucket the card, but they don't bucket the client. Not every card is bucketed (see earlier comments by others) and applying for a new card will result in a higher credit limit, which the OP could realize by taking the three HP.

 

I was bucketed with a legacy Capital One Platinum card at $10k and a fixed 10.90%APR Smiley Sad They never gave me an increase after asking three times in 2015, Smiley Sad so I applied for Venture, got $30k. Smiley Very Happy Closed that after about two years, waited a year, applied for Savor and got $30k again in Dec 2018. Will keep the Savor for two years total, and see what shakes out later.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 24 of 31
Valued Member

Re: DONE with Cap One


@NRB525 wrote:

@O_G wrote:

@Shooting-For-800 wrote:

Buckets are real but they bucket the card not the client.


How does that work?  I have a CapOne platinum with a CL of a bit over $100k.  


The comment is intended to say Capital One could bucket the card, but they don't bucket the client. Not every card is bucketed (see earlier comments by others) and applying for a new card will result in a higher credit limit, which the OP could realize by taking the three HP.

 

I was bucketed with a legacy Capital One Platinum card at $10k and a fixed 10.90%APR Smiley Sad They never gave me an increase after asking three times in 2015, Smiley Sad so I applied for Venture, got $30k. Smiley Very Happy Closed that after about two years, waited a year, applied for Savor and got $30k again in Dec 2018. Will keep the Savor for two years total, and see what shakes out later.


Thanks for clarifying that.

 

 

Message 25 of 31
Established Contributor

Re: DONE with Cap One

Same with me. I'm DONE with Cap one!!! I believed mine was bucketed card as well and refuse to grow! I just closed it a few days ago!

Dont be sad OP!!! LOL 





Amex Platinum NSPL || Amex Everyday $10K || Amex BonVoy $16K || Aviator AA $7.6K || Citi AA $7.2K || Citi Costco $5.5K || NFCU CashReward $26K || Blispay $5K || Discover $10.8K || Paypal Credit $7.6K || VS card $4.1K || Walmart store $8.5K ||
Message 26 of 31
Frequent Contributor

Re: DONE with Cap One

Cap one started me very low in the beginning and then every 6 months I would request an increase and was given. No idea why you aren’t being upped? Is it a quicksilver or quicksilver one?

I don’t love my cap 1 card since it has the worst interest, but I barely use it.

Capital one was the first card holder who really gave me a chance with me. Without them, I probably never would have gotten to where I am today. I am grateful to them and will continue to give them love for that reason.

Best starter card I could have asked for.

I wouldn’t cancel the card. If there is no fee there is no reason to. Just keep the trade line
Message 27 of 31
New Contributor

Re: DONE with Cap One


@FireMedic1 wrote:

@BrokenBones wrote:

@Shooting-For-800 wrote:

Buckets are real but they bucket the card not the client.


Bucket the card and not the client? That's the first time I've ever heard anyone say that. What cards get bucketed? 


Plat and QS1 is their bucket cards. But recently with Cap1. They like heavy spend and PIF for getting higher CLI's or any CLI's really. Been there done that and ended up with their top 3 @36k CL.


Plat and QS1 are the cards I got when I was still in the 500s with a $300 CL. Plat is now at $6000 and QS1 is at $7400.


Message 28 of 31
Regular Contributor

Re: DONE with Cap One

I've never really had any issues with Cap1 since getting approved by them in early 2017. I know that the CLI stories that I've read on here worries me because I want my QS to grow a little more ($1500 CL since fall 2017). But despite that and their silly inability for us to PC cards to the Savor cards, I'm grateful that they approved me during a time that I was rebuilding. If it wasn't for Cap1 and Chase getting me approved when my scores were scratching at 600, I probably would have caved in with Credit One or Indigo. But even though I'll close my QS1 after Christmas once I try to get in with Amex next month (fingers crossed), I'm keeping my QS for as long as I can until I can get the Savor One and then go from there. So you should try another lender like Amex or Citi that will give you a much better chance to getting you appoved for the CLI that you need. Many folks on here seems to like Amex and their CLI, so that could be a good start.  


FICO 8 Scores 12/2017: EX-596; TU-604; EQ-591
Current: EX-648; TU-665; EQ-678
AAoA: 4.4 yrs
Message 29 of 31
Valued Member

Re: DONE with Cap One


@marcforza1 wrote:

I've never really had any issues with Cap1 since getting approved by them in early 2017. I know that the CLI stories that I've read on here worries me because I want my QS to grow a little more ($1500 CL since fall 2017). But despite that and their silly inability for us to PC cards to the Savor cards, I'm grateful that they approved me during a time that I was rebuilding. If it wasn't for Cap1 and Chase getting me approved when my scores were scratching at 600, I probably would have caved in with Credit One or Indigo. But even though I'll close my QS1 after Christmas once I try to get in with Amex next month (fingers crossed), I'm keeping my QS for as long as I can until I can get the Savor One and then go from there. So you should try another lender like Amex or Citi that will give you a much better chance to getting you appoved for the CLI that you need. Many folks on here seems to like Amex and their CLI, so that could be a good start.  

 

 

 

Already done!  😀 The day after I posted my original comment, I apped a 2nd AMEX and was approved instantly for 20K (was pre-approved for virtually every card they offer). I already have other AMEX and Discover cards with very generous limits.  I’m not wasting any more time with Cap1. All three of my FICO scores hover just under 800, and I shouldn’t have to beg for a CLI on a card with a CL of <1000.

 

i appreciate everyone who took the time to chime in!

Message 30 of 31
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