If you go back and look at threads 4 or 5 years ago you'll see Capital One referred to a lot as "Crap-1" then they started handing out $25k limits like candy on Halloween and the thread attitude changed to "we love Capital One" and they could do no wrong, well at least as reflected in those posts. Over the last year or 18 months, Capital One has tightened up a lot of limits, not so much adverse action or shutting down accounts (sans Comenity or Barclays) but they have gone back to lower starting limits, bucketing starter cards, and expanding their interest in subprime offerings with annual fees and low limits.
They did introduce their new "dining" card, but for fat-wallet (number of cards, not referring to wealthy clients) it is mostly a yawn or also-ran effort. Cap-1 also expanded their reach through co-opted" cards such as the GM Card (which I think is a great card, but that view is shared by very few on these forums) and Cabelas which I also have a high limit on and no issues.
Yes there are some that feel entitled and get "bucketed" by Cap-1 where their policy is to open a new account and take your chances rather than upgrade a proven customer/history and yes their customer service might as well be robots as they read off a script and have little if any power to work with a customer and offer much of anything as a solution. Cap-1's typical interest rates are high, their customer service is lacking, they tend to favor starter cards and subprime, and don't make much effort to upgrade their customer's products as that person upgrades their credit reports and history.
Personally, my wife and I have both closed any and all branded Cap-1 cards as not worth the effort, average rewards and failure to grow. As mentioned I have a GM Card and a Cabelas, both are fairly high limits and both I plan to keep - my wife has an older Kohls card which is also backed by Cap-1 and she plans on keeping that card too. I should also note that I have maintained a direct deposit checking account with Capital One for over 10 years. I could also give you "proof" that Cap-1 could not care less whether or not I do business with them, but it would be only one example and my comments are on how I see Cap-1's business model, not how they shunned a single customer.
Are there things to like about Cap-1 yes of course, and while they are into the subprime market, they practice fairly ethical lending, meaning they are not Credit-One or First Premier or their many "vulture" clones. On the other hand for those with higher credit scores or long credit histories with a choice of many-many lenders and cards, Capital One does not offer much in my opinion.
