@Caught750 wrote:
He's simply saying that a single MR or UR point (TPG Valuation) is worth the "2%" ventures best return. That any MR or UR sub is worth more than $500. That citi (not a CU) has an actual 2% CB card so does Sync and Alliant (not a military CU). Uber has better dining return than Savor. Spark reports to personal CRs where are Chase and Amex do not. Theres no reason to be upset because some of us believe that Cap1 is more interested in rebuilding than prime market customers. Simply stated, with a 650 or higher score you can do better than Cap1
I am not upset. I just find it funny how everyone bashes Cap One when they basically invented rewards programs that got the general public interested. I would love to see a bank like Citibank or Barclays or even Alliant give out a 2%+ card with no AF no FTF a $500 sub and $30,000 SL to someone with a 650 average fico. It just is not going to happen.
I don't think anyone on this board has the right to insult people who are loyal to one bank or another, it is their choice who they give their business to.
Is every person who has local bank credit card without rewards an idiot? Everyone with 1.5% back instead if 2%? Everyone who does not want to carry 10 different cards to cover the max cash back for each catagory?
Not in my book.
I just got $20,000 at 0% for 18 months that cost me 2%. I will get 2% back on my purchases so my net cost = $0 for $20,000 for 18 months to help remodel my kitchen.
In addition, my Cap One car loan is a whopping 2.49% for 72 months and I got it with no money down, no paperwork, no paystubs, no hassel.
I guess both of those are rip offs also, right?
Quite frankly, they treat me like a king which is much better than any other bank I have dealt with.
To each their own.
@Gollum wrote:
@OmarR wrote:
@Anonymous wrote:Capital One needs to stay with rebuilders and people with bad credit. Until then, I classify anyone who pulls out a Capital One card as "financially irresponsible," simply because that's the reputation they've built for themselves over the years, and it likely won't ever change. I know there's people here with huge Capital One limits, but I have to question why they carry one in the first place.... They have better options out there. There's not a single card in Capital One's card portfolio that's better than any other bank's competing cards out there.
Some may equate it to "financially irresponsible", but there are many that fit into the "financially un-informed" category. And that used to be me. Back in ~2012, I classified myself as a rebuilder, but it was really all the TV commercials and all the credit karma ads that convinced me to apply for a Venture One mastercard. 1.25% on traveling. And I didn't even like to travel. I was just happy to tell you what was in my wallet. I CLI'ed it to $15,000 in one request from $3500. I went from proud to super-proud. One card, One mission. And what's even more embarassing is that I am "that guy" that qualifies for anything military.
I started reading this forum in 2016. I dumped Cap1 after I started getting approved for the line-up you see in my signature. Granted, getting my first mortgage in 2014 did probably help me out.
I do agree with your notion of CU's not being very competitive, but Vantage West's 5% categories are awesome as well as Fort Knox's 5% Gas card. But it does suck that VW is now geographically restricted.
The company that I work for is the company that offers a 4/3/2/1 rewards structure. And I don't even like that card. But when someone pulls out a Cap1 card on me at work, I think either:
1. Rebuilder
2. Credit-uninformed / Doesn't care
3. This works for MY spending habits
I find #2 & #3 to be more prevalent amongst my customers.
OP, if your signature is current, regarding your scores & cards, why not just dump Cap1? You have a strong profile without them. Cap1 treated me right, but I also do not understand why anyone with a 740+ score stays with anyone that they complain about. Dump them.
Don't end up like me, with a Capital One card (my oldest card) thirteen years or so older than my second-oldest card (my Simmons Bank card).
Understandable point. Even if you pull it out of your sock-drawer every several months or so, it's a small inconvenience. But even as a closed account, it will typically stay on your report for 10 years. And whose to say they don't drop you one day for "serious lack of use". Than all your worries/troubles were for nothing.
