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Worked for CapOne...Here's The Scoop

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Anonymous
Not applicable

Worked for CapOne...Here's The Scoop

Before I give you juicy insider info (no, not really, many of it is boarderline across the credit industry) please note I worked with service, Spark business, and consumer upgrades, never underwriting.

I'll share benefits specific to you as a Mastercard or Visa cardholder first, not neccessarily Capital One. I'm sure it goes without saying, but always double check your terms. Opt to read first, then call it in. Terms can vary. Some of the following, you'll likely already know and/or have experienced.

Auto rentals paid using Visa or Mastercard will usually only cover property damage...I repeat, property damage, not bodily injury, for rental periods 15 day or less (average). You can usually hold the rental with your credit card and pay with a different card when returning, like debit or another credit.

Cards with limits of $5K+ usually give you "Signature" (or World Class) status. It gives you a few more perks in additional to standard perks for any other card holder, like conceige services for travel or buying event tickets, reimbursement for delayed baggage for travel purchased with the signature card, longer time frames for extended warranties, higher limits on certain benefits, less exclusions, and broader coverage geographically.

Extended warranties on qualifying products usually first require the manufacture warranty itself must be 12 months or less. This benefit often times excludes antiques, land, boats/auto/atv, damages caused by war and "Acts of God," software, and media storing devices.

60-90 Day price protection will reimburse you the difference when you make purchases and find better pricing afterwards. This benefit usually excludes shipping costs and auctioned items and require the lower price to be available in print. Other common perks are roadside assistance, identity resolution services, legal referal services, emergency card replacement, and family/friend money wiring assistance. You'll also find a lot of cards even beyond MC and Visa provide additional savings with partnering merchants.

Now things more specific to CapOne:

If you don't see an option to upgrade online, you can call (others report chat works too) and a rep can assist if an upgrade is available. If you call in and get pushback from agents regarding lowering APR, it's usually that because you've either (a) took advantage of a promotion previously such as balance transfer or upgrade (like quicksilver one to quicksilver) in the last 6 months OR you literally have nothing to be offered. It's all computer/system, don't get too upset, there's nothing manually they can do.

They're getting strict, but usually fees can be waived once a year. This includes (but not limited to) late fees, annual membership fees, over the limit fees (which you can set to not happen), etc.

You can pay your bill using your debit card (note, for some reason PayPal debit MasterCards don't work). Yesterday though, an old coworker shared you now must have already used the debit card previously, so this may or may not be an option for you, but man is/was it convenient!

Debit card payments are phone only and often times will allow for instant access to funds. Just state you want to purchase something today and use your card. Nothing wrong with wanting to use your card for added protection for your purchases or take advantage of rewards. If debit payments aren't available you may qualify to do a 3 way call with bank to verify funds and have an instant release done that way.

All request for credit line increases are a soft pull, unless you specifically grant permission for the hardpull with a closer look at reports.

Maybe not too vital, but I've personally experienced this so I'll share, but When doing disputes for hotels, don't be surprised if you are given a credit only to have it taken away after the "investigation" ends in their favor. It's very difficult to dispute this kind of transaction and certain service type purchases. When possible, if using credit card for purchasing a service, opt for something that has a physical attachment along with it. For example, something that has to be shipped in addition to fulfilling the service or a product produced as a result of the paid service. Your chances for a win if you were to dispute substantially increase.

***I had an experience with the Days Inn enterprise. Though I "lost" they (Days Inn's customer care) did give me points for 2 free nights at one of their establishments. Sometimes you have to put in a little more effort to get what you really want and sometimes its as simple as acknowledgement of being treated poorly (grant it you didn't spend an arm, leg, and lung of course).

Hmmm, let's see, oh yes, what am I forgetting; Be aware that some purchases will be charged in a different segment, resulting in fees and/or different interest rate from purchases. For example, you usually will see 2, maybe 3 different segments. First is your purchases, then your cash advances, then your special segment, which is usually balance transfers. Cash advances are not only cash withdraws made via an ATM or check. It could be Western Union transfer, some companies even Paypal transfers, car payments, mortgage payments, etc. Be mindful of amounts showing in a different segment than purchase without you being aware it'd be counted in that manner. I've had someone call in and not know that paying their rent with their card would result in it being seen as a cash transaction, resulting in a fee and higher interest rate (which usually has no grace period, so if ya paid in full you get no waiver, it's rated daily and you must pay it). This is something set up on the merchant's payment processor, not the creditor.

And lastly, rewards applied to your balance do not count for payments. So if you're minimum payment is $50 and you apply $25 of your rewards to your balance, you still must pay $50 to satisfy those minimum requirements. If ALL ya owe is $50, make the payment, otherwise you won't be able to apply it to a $0 and "technically" though you have no balance, you won't have satisfied your payment obligation for the prior statement.
Message 1 of 8
7 REPLIES 7
grillandwinemaster
Valued Contributor

Re: Worked for CapOne...Here's The Scoop

Interesting post OP. Thanks for sharing.  


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 2 of 8
Blackswizz750
Established Contributor

Re: Worked for CapOne...Here's The Scoop

Thanks OP for the information:very good to know about disputes and payment segments for car and mortgage payments showing up as cash transactions.

Message 3 of 8
Anonymous
Not applicable

Re: Worked for CapOne...Here's The Scoop

My pleasure! Hope it helps someone and I hope to share more in future.
Message 4 of 8
Anonymous
Not applicable

Re: Worked for CapOne...Here's The Scoop

Thanks for the information, i have 3 cap one cards i'm planning to payoff hopefully tommorow but soon if not, hope they earn my trust then Smiley Happy

Message 5 of 8
Aduke1122
Senior Contributor

Re: Worked for CapOne...Here's The Scoop

Thanks for sharing Op
Message 6 of 8
Anonymous
Not applicable

Re: Worked for CapOne...Here's The Scoop

Thanks for the information!
Message 7 of 8
DaveInAZ
Senior Contributor

Re: Worked for CapOne...Here's The Scoop


@Blackswizz750 wrote:

Thanks OP for the information:very good to know about disputes and payment segments for car and mortgage payments showing up as cash transactions.


Well, remember he said "This is something set up on the merchant's payment processor, not the creditor". I want to start using Plastiq to make my mortgage payment through my QS, but first I tried a small ($21) payment to a CU CC. (Yeah, scary to use 1 CC to pay another CC, not something I would normally do) It shows as an "other, business services" categoty transaction, but as a purchase not a cash advance, so I feel I'm good to go.

Message 8 of 8
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