All great points! Thank you!
I agree that Capital One is atrocious, and much of it has to do with being predatory as they encourage those working on building their credit to [almost] max out their card(s) to show "usage" for months on end just to get a CLI that will likely be embarrassing! They seem to want to have their customers push the envelope so frequently because, well, if they go over or miss a payment or whatever, the fees pile up! They also likely calculate that most people won't be paying in full monthly resulting in the max interest for their given CL! So, if their algorithms see that card holders are responsible, they want nothing more to do with them. They're not making the big money that their business model calculated for those "bucketed" accounts, so they have no incentive to CLI. Then we get disgruntled at such crappy service and don't use our cards, hence no swipe fees either now, and they are probably hoping we cancel by that point. I actually did get so fed up with Capital One that I closed everything, but my Walmart Rewards Mastercard. That card is okay, but it hasn't grown like my others, at least my last two CLIs were $1K each.
Moving on, Synchrony seems to like me and I get massive CLIs with them. They do have hard limits for some cards, but they could still be exceeded by underwriting or rather their computers. Anywho, I hit the hard limit on my Amazon at $10K and PPMC at $20K, not to mention was instantly approved for the Verizon Visa at $7.5K SL. That last one seems pretty hard to get, especially with a respectable SL. So, yes, it really makes no sense to me how Synchrony could be all over the place! They could be extremely generous or conversly miserly, but it doesn't seem to depend on credit scores. Relationship may have something to do with it, but they seem to dislike those that get too many of their credit products, maybe 7+ from what I've read. They are additionally trying to recover from and seriously prevent fraud, which likely factors in somewhere.
My scores are not yet in your league and went down some after a recent cross-country move, but it didn't take much spending to knock even 40 points off some of those scores! We're talking going from a 4% to 12% utilization. Last I checked, I'm down to about 8% and yet to recover other than a handful of points. I probably should have allowed some of those cards to age instead, and maybe shouldn't have been so enticed to add others, but my 7.5 year old BK seems to be what's hurting an otherwise excellent credit profile.
I'm wondering what's going to happen in a few months as Walmart is terminating their relationship with Capital One. I'm also curious who will pick it up! Maybe they will change cards over at that particular juncture, maybe they won't, Capital One is as big a wildcard in the industry as you could find! That's the ONE certain thing.
Thanks again for sharing your thoughts. I also wish the industry simply made more sense, other than the predatory stuff of course.
Open Accounts: AMEX Platinum Card:
NPSL • AMEX Gold Card:
NPSL • PayPal Cashback World Mastercard:
$24K • NFCU More Rewards AMEX:
$23K • NFCU Platinum Visa:
$23K • NFCU Visa Signature Flagship Rewards Card:
$20K • Fidelity Rewards Visa Signature Card:
$15K • Bread 2% Cashback AMEX:
$11,650 • U.S. Bank Altitude Go Visa Signature Card:
$10K • Verizon Visa Signature Card:
$10K • Amazon Prime Store Card (Synchrony Bank):
$10K • Discover it Miles:
$9.5K • AAA Visa Signature (Daily Advantage) Card:
$6.7K • Discover it Cash Back:
$6.5K • Target Circle Mastercard (AU):
$6K • PayPal Credit (Synchrony Bank):
$5,650 • Dell Pay Credit:
$5.5K • Truist Bank Future Visa Card:
$5K • My GM Rewards Mastercard:
$4.5K • GS Apple Card:
$3,250 • Capital One Savor Mastercard:
$3.1K • AMEX Blue Cash Preferred (BCP):
$3K • Kohl’s Card:
$3K • Merrick Bank Double Your Line MasterCard:
$2.5K • AMEX Blue Cash Everyday (BCE):
$1.3K • AMEX Delta SkyMiles Blue Card:
1.1KOpen Loans: BestEgg Personal Loan (Signature):
$22,000 @ 16.15% • Capital One Auto Loan:
$9,358 @ 9.78%Closed Accounts: Target RedCard
(Please sir, may I have some more? NO!) • AMEX Delta SkyMiles Cards (Platinum, Gold, & Blue)
Various PCs • Walmart Rewards Mastercard
(EOL, PC to Capital One Savor Mastercard) • Mercury Mastercard
(APR hit 34.24%! Ouch!) • Tomo Visa Signature Card
(Low SL/CL, High APR!) • Ollo Platinum MasterCard
(Subprime, Low SL/CL, High APR!) • Upgrade Card
(Low SL/CL, High APR!) • Aspire MasterCard
(Subprime, “Account closed due to inactivity!”) • Various Capital One Cards (Platinum, QuicksilverOne, Quicksilver, & SavorOne)
(Buckets!!!)
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Last Updated on 1/13/2025.
