Hello all,
I am just wondering why Cap 1 gets so much criticism. I have heard so many good reviews about their cash rewards card from online reviews. I am not intending to app but I am always curious for future reference.
I always like to ask and that is the one card that I couldn't really figure it out on. It just seems accepted that they are put down but I couldn't find the actual reasons as it seems it dates back a ways....I don't see a lot of "I heart Cap 1" posts.
Ok Frugal you got me there....What is a monkey button??? Do tell, because the visual I get isn't pretty.
#1, Their rebuilder cards don't grow with you. Once you reach the CL they have pre-assigned for that card (usually in the step program), that's it. No matter what you do or how long you have the card, it will always be stuck at the toy-card limit.
#2, Their CS isn't very good. And I'm being nice there. I have been told SO much erroneous and contradictory information from them, that it's ludicrous. Frankly, if a Cap One rep told me the sky was blue, I'd have to look outside to be sure. I just can't believe a thing they tell me anymore, because every rep gives me a different answer to the same question. To say it's frustrating is an understatement.
#3, Personally, I don't like the 3 HP thing. They seem to be the only one (that I know of anyway) that pulls all 3 CR for a CC. It just seems unnecessarily punitive, since inq affect our FICO and future possible approvals.
#4, They are very inflexible. I got a plat rebuilder from a mail offer. It was my first rebuilder card and I knew nothing about what I was doing. It was before I found this forum. After I found the forum, I realized that many people had rebuilders with them that had rewards. So, I called and asked if I could add reward or change my cards to one with rewards. Their reply was that my card wasn't eligible for that, but I could apply for another CC (with 3 HP, of course!). No thank you. They don't PC. They don't waive AF (IME). They don't seem very customer-service oriented at all. I have even spoken with their retention dept. and they couldn't care less if I kept my CC open or not. And many others here have posted similar experiences.
Just my 2c. 
Wow ok! Now this is definitely a first for me to hear that one! LOL! But now I get it.
@bichonmom wrote:#1, Their rebuilder cards don't grow with you. Once you reach the CL they have pre-assigned for that card (usually in the step program), that's it. No matter what you do or how long you have the card, it will always be stuck at the toy-card limit.
#2, Their CS isn't very good. And I'm being nice there. I have been told SO much erroneous and contradictory information from them, that it's ludicrous. Frankly, if a Cap One rep told me the sky was blue, I'd have to look outside to be sure. I just can't believe a thing they tell me anymore, because every rep gives me a different answer to the same question. To say it's frustrating is an understatement.
#3, Personally, I don't like the 3 HP thing. They seem to be the only one (that I know of anyway) that pulls all 3 CR for a CC. It just seems unnecessarily punitive, since inq affect our FICO and future possible approvals.
#4, They are very inflexible. I got a plat rebuilder from a mail offer. It was my first rebuilder card and I knew nothing about what I was doing. It was before I found this forum. After I found the forum, I realized that many people had rebuilders with them that had rewards. So, I called and asked if I could add reward or change my cards to one with rewards. Their reply was that my card wasn't eligible for that, but I could apply for another CC (with 3 HP, of course!). No thank you. They don't PC. They don't waive AF (IME). They don't seem very customer-service oriented at all. I have even spoken with their retention dept. and they couldn't care less if I kept my CC open or not. And many others here have posted similar experiences.
Just my 2c.
+1 Couldn't have said it better.