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@redpat wrote:
@Anonymous wrote:
@redpat wrote:
@Anonymous wrote:
@redpat wrote:They are just as good as the others.
Some luv'em and some hate'em.
I have a very weathly friend that has biz sparks card 200k limit and the other card for his spend is 75k limit Venture and that's all he uses. I have begged to use him for Amex, Ink referrals and he won't bite.
So for those who think they most of their market is builders and beginners, think again.
It’s actually not possible with an ABS model for them to only target builders and rebuilders because they need the more credit worthy to balance out the risk in their portfolios. ABS portfolios have a managed risk vs reward for investors. They wouldn’t be able to sell it if it was all extremely risky subprime.
Umm, Credit One, first progress, primor, indigo, merrick and fingerhut. I sure they could sell to someone if a NY minute.
Go look up Capital One asset-backed securities and you’ll see what I’m talking about. The ABS model is why people find themselves bucketed with Capital One. In fact the top tier bucket, you can’t even get put in until you have had your card for 5 years.
Credit one and the others are the same, bucketed just has to do with risk nothing more. If you have a bucketed card you can still apply for another one, many have escaped before five years as seen on these forums.
Again, this is not the same thing. Credit One only deals in subprime and does nothing to attract or keep prime customers. Capital One leverages their customer base and buckets them into tranches with a normalized risk and sells them to investors. There’s a huge thread on it on this forum.
@longtimelurker wrote: " ... a few of us have been hit (35K Cl -> $10K, $20K card closed, both for insufficient use)."
Mind if I ask how much or how often you were charging?
Just wonder what they consider insf use to slash cards to that degree??
@wasCB14 wrote:My idea of "entertainment" definitely does not match the Savor's definitions. For $500, I can be pretty forgiving about this. If I'd only gotten $300 I'd be less so.
I looked up their definition. What kinds of entertainment did they not cover? It looked like mainly golf course, country clubs, college sports venues, and park tickets bought through third-party sellers were the main restrictions.
@Summer16 wrote:I'm closing my Quicksilver, Quicksilver One and Wal-Mart card at the end of this month.
The Quicksilver started off as a Platinum. I have been denied a CLI every year for three years. I'm still at the SL of $500.00.
The Quicksilver One will be open a year in October. SL of $500.00 and credit steps increased the limit to $750.00.
Wal-Mart has been open a little over a year at $500.00.
Those are pretty low limits but were you using the cards regularly (or at all?)
From my experience, Capital One puts a high value on seeing you are using your cards, especially when it comes to credit line increases.
And they are very slow to raise limits, but it can happen over time. I groomed a $1K limit Platinum card into a $22K Quicksilver over several years.
Not great but not bad either. They helped me build credit initially and then rebuild after a major financial crisis. I can't say the same about the other lenders with the better rewards programs. We've had several cards, but only kept a grandfathered Savor (converted from Venture) with a pretty high limit. They closed 2 cards due to inactivity (probably 2 years without use). I've had a couple of paid auto loans with excellent rates, and 2 current auto loans with better rates than the dealership could offer. Never had a customer service issue.
We've outgrown their lineup of cards, but that doesn't mean their cards are worthless, like some may say. There was a time when I used to charge just about everything on my Venture -- anywhere from 3k to over 10k without a hiccup. We've moved on, but they continue to offer great BT offers at 2% when every other lender is above 3%. So I can make large purchases on a card where I earn 4.5% or 5%, pay them off in year and still be ahead 3%.
Cap One is a keeper in my book.
@Anonymous wrote:
@iced wrote:
if Capitol One's cards are already great, why do they need to advertise...and advertise...and advertise...and hire celebrities to advertise...and ads at bus stops and billboards and ballparks and ... no wonder the Venture has an AF! They have to cover their massive advertising budget!I mean I personally see more adds for NFCU and CEFCU than I do for Capital One
I do see quite a few ads for Amex as well. Amex likes to advertise online a lot more than Capital One does.
I see a lot of ads for Amex, especially online but also sometimes on TV. The one I am thinking of recently on TV showed a young woman using her Platinum Card. I noticed it because I was wondering, how many people that age have Platinum Cards? I'm sure more than zero, just seemed like an odd marketing choice to me.
I see ads for NFCU. I have not seen ads for CEFCU, as far as I know (don't even know what it stands for).
But, Capital One ads are by far the most ongoing, longterm ad campaigns for credit cards. They are the Progressive Insurance of credit cards. They could have a museum of their ad campaigns from the last decade, including vikings/barbarians demanding to know what's in your wallet, Samuel L. Jackson yelling about what's in your wallet, and Jennifer Garner sweetly asking what's in your wallet. The prevalence and - how to say this - lack of formality of their TV ads is part of why I compared them with ambulance-chaser law firms earlier.
There is nothing wrong with it but it is different, and some people will respond favorably, others will not. For me, it kind of turns me off (though the Jennifer Garner part helps balance out the rest).
That said, I had a good experience with my secured Cap 1 card - no issues with the app or customer service - and I would get another Capital One card if they had any with features or rewards that I think are better than other options, which they do not. Savor is close, but I'd just use Amex Gold. Venture is close, but I'd use Delta or Hilton, or Amex Gold. QuickSilver is close, but I'd use Paypal. They aren't bad cards, just not quite where they need to be for me to embrace my inner Snakes On A Plane fan to pursue one of them
@Aim_High wrote:
@wasCB14 wrote:My idea of "entertainment" definitely does not match the Savor's definitions. For $500, I can be pretty forgiving about this. If I'd only gotten $300 I'd be less so.
I looked up their definition. What kinds of entertainment did they not cover? It looked like mainly golf course, country clubs, college sports venues, and park tickets bought through third-party sellers were the main restrictions.
Opera tickets (treated as a nonprofit), a bowling alley ("your alley may vary" perhaps), streaming via Amazon channels, and a purchase from a store that only sells adult products.
Other cards have had similar problems, like BCP only giving 1% to Amazon channels or Prestige not treating nonprofit-operated opera/concert tickets as entertainment. This isn't unique to Capital One.
Of course, with good off-category cards all of the above could earn 4% and I'd likely still close or downgrade after a year.
@KJinNC wrote:
@Anonymous wrote:
@iced wrote:
if Capitol One's cards are already great, why do they need to advertise...and advertise...and advertise...and hire celebrities to advertise...and ads at bus stops and billboards and ballparks and ... no wonder the Venture has an AF! They have to cover their massive advertising budget!I mean I personally see more adds for NFCU and CEFCU than I do for Capital One
I do see quite a few ads for Amex as well. Amex likes to advertise online a lot more than Capital One does.
I see a lot of ads for Amex, especially online but also sometimes on TV. The one I am thinking of recently on TV showed a young woman using her Platinum Card. I noticed it because I was wondering, how many people that age have Platinum Cards? I'm sure more than zero, just seemed like an odd marketing choice to me.
I see ads for NFCU. I have not seen ads for CEFCU, as far as I know (don't even know what it stands for).
But, Capital One ads are by far the most ongoing, longterm ad campaigns for credit cards. They are the Progressive Insurance of credit cards. They could have a museum of their ad campaigns from the last decade, including vikings/barbarians demanding to know what's in your wallet, Samuel L. Jackson yelling about what's in your wallet, and Jennifer Garner sweetly asking what's in your wallet. The prevalence and - how to say this - lack of formality of their TV ads is part of why I compared them with ambulance-chaser law firms earlier.
There is nothing wrong with it but it is different, and some people will respond favorably, others will not. For me, it kind of turns me off (though the Jennifer Garner part helps balance out the rest).
That said, I had a good experience with my secured Cap 1 card - no issues with the app or customer service - and I would get another Capital One card if they had any with features or rewards that I think are better than other options, which they do not. Savor is close, but I'd just use Amex Gold. Venture is close, but I'd use Delta or Hilton, or Amex Gold. QuickSilver is close, but I'd use Paypal. They aren't bad cards, just not quite where they need to be for me to embrace my inner Snakes On A Plane fan to pursue one of them
The Capital One ads are great. They are also very popular. Speaking specifically about the ads, there is nothing about them that gives off an ambalance chasing vibe. But then again I have not heard anyone use the term “white shoe” and blueblood in decades. And certainly not in a non ironic way.
Amex ran a lot of Platinum ads in LA after announcing the "upcoming" Centurion at LAX.
With all the delays it has faced, the ads seem to have died off.
@iced wrote:
@AverageJoesCredit wrote:
With the upcoming transition of my Wally cards to Cap One, making them my first ever C1 cards, being off today and bored, got me wondering this. Its only fair guys and you knew it was coming😄You may have finally made a thread I'm interested in...
I've always correlated an issuer's need to run lots of advertising with that issuer making up for an otherwise bland product. And let's be honest - aside from co-branded cards shamelessly shoved in your face at airports and hotels, the only issuers who really run a lot of advertising are Discover, Capitol One, and Credit One. And all three are basic cash-back offerings. Is this a clue as to who their target audience is?
I do see the occasional Chase/American Express ad, but it's usually only at the launch of a new card (a la Tina Fey's shamless plugs of American Express a few years back) and then they quickly fade out, leaving the three aforementioned banks to regail me unsuccessfully with their sad trombone products.
So that leaves me to also wonder...if Capitol One's cards are already great, why do they need to advertise...and advertise...and advertise...and hire celebrities to advertise...and ads at bus stops and billboards and ballparks and ... no wonder the Venture has an AF! They have to cover their massive advertising budget!
Of all the banks, American Express spends more of their gross revenue on ads than any other bank by far. Almost twice as much as the second place (Discover) Even Chase spent over $100M on advertising. Amex has cards with $450 fee btw.