cap1 aa, they don't fool around lol

[Anonymous]

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@bourgognewrote:

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@Anonymouswrote:

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@bourgogne

anybody past the rebuild stage does not care about this lender or their cards, i am sure of it.

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I wouldn't go that far.  If this were really the case, CO wouldn't have anything outside of the Platinum card and certainly wouldn't offer perceived non-rebuilder cards like the Venture.

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it's just my opinion, they are good for what they are but I don't consider them to have competitive offerings.  they offer cards for individuals that do not know better, or low hanging fruit or whatever.  again I am not knocking them but many bank cards + almost every cu card I am familiar with offers more stability utility and returns

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I'm not arguing against your paragraph above, which I believe is a fine opinion to have and state.  That paragraph and opinion, however, is dramatically different than the one-liner thesis you posed prior to which drew my comment.

[bourgogne]

my thesis lacked one liners, prob why I like them so much now.  its all good.  best part of cap1...VCs for CCT!

[pip3man]

So one of the company’s value is being “paradoxically conservative” in its lending practices and approach. So what does it mean for the customers, yes we will loan to prime and sub prime borrowers but while they are very customer-centric 1) if your not profitable, available resources would need to be redirected to areas that would yield the best return. To put it in clearer terms, if $30k is extended to u, this is actual money the bank borrows and has to pay back its investors and shareholders with interest. Now if they lend u this much, and u tie up the capital without using it in some form to generate income be it in terms of swipe fees or interest, then there’s really no reason neither does it make business sense for them to let u keep that entire line when they could give it to someone else who will fully utilize the credit and generate income in swipe fees and interest. In addition to that, all this is basically a risk management strategy like I once suspected which is influenced by the actual or perceived state of the market.

[Meanmchine]

First off lemme say Im sorry to hear about other members bad luck with Cap1

After reading this thread I must admit to having a sigh of relief.  I have a 10k Cabeles visa and Ive always been afraid that Cap1 would CLD it because I really dont use the card that much anymore. I have 3 cards, total CL $17k. I think Im going to lay off the Cap1 luv button for a year or so.

[Anonymous]

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@Anonymouswrote:

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@bourgognewrote:

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@Anonymouswrote:

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@bourgogne

anybody past the rebuild stage does not care about this lender or their cards, i am sure of it.

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I wouldn't go that far.  If this were really the case, CO wouldn't have anything outside of the Platinum card and certainly wouldn't offer perceived non-rebuilder cards like the Venture.

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it's just my opinion, they are good for what they are but I don't consider them to have competitive offerings.  they offer cards for individuals that do not know better, or low hanging fruit or whatever.  again I am not knocking them but many bank cards + almost every cu card I am familiar with offers more stability utility and returns

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I'm not arguing against your paragraph above, which I believe is a fine opinion to have and state.  That paragraph and opinion, however, is dramatically different than the one-liner thesis you posed prior to which drew my comment.

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Any Capitalone card is not for maximisers.  But there are many people who like it’s simplicity, ease of getting the cards, and no foreign fees. If there is one thing I’ve learned on here is that all the cards are great for someone out there. I hate card snobs. Everyone gets cards for what’s best for them. What’s good for one isn’t for another. To each their own on cards. Sometimes cards are good temporarily and one day become useless. Banks have to give their big limits often to people who will use them. They don’t make a dime off anyone if they don’t use the cards. No swipe fees or no interest. In that case not very happy owners of their stocks. When one doesn’t use, CLDs happen. It’s part of life. 

[Anonymous]

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@Anonymous

Any Capitalone card is not for maximisers.  But there are many people who like it’s simplicity, ease of getting the cards, and no foreign fees. If there is one thing I’ve learned on here is that all the cards are great for someone out there. I hate card snobs. Everyone gets cards for what’s best for them. What’s good for one isn’t for another. To each their own on cards.

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Agreed.  But, someone saying that they are sure no one outside of rebuilders cares about Capital One cards is a giant stretch.

[kdm31091]

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@Meanmchinewrote:

First off lemme say Im sorry to hear about other members bad luck with Cap1

After reading this thread I must admit to having a sigh of relief.  I have a 10k Cabeles visa and Ive always been afraid that Cap1 would CLD it because I really dont use the card that much anymore. I have 3 cards, total CL $17k. I think Im going to lay off the Cap1 luv button for a year or so.

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@Meanmchinewrote:

First off lemme say Im sorry to hear about other members bad luck with Cap1

After reading this thread I must admit to having a sigh of relief.  I have a 10k Cabeles visa and Ive always been afraid that Cap1 would CLD it because I really dont use the card that much anymore. I have 3 cards, total CL $17k. I think Im going to lay off the Cap1 luv button for a year or so.

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It's not just Capital One. I think it's prudent to not chase excessive CLIs with any lender. If the limits are sufficient for your spend level, just leave them alone. If your utilization is low, it's going to be low whether you have thousands of extra dollars in buffer or not.

I think we have to look at the bigger lending trend here and not just CO. It is easy to get caught up in requesting CLIs that one doesn't really need. It is nice to have a buffer for emergencies to some extent, but also pays not to go too crazy with CLIs. 

[Dalmus]

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@kdm31091wrote:

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@Meanmchine

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It's not just Capital One. I think it's prudent to not chase excessive CLIs with any lender. If the limits are sufficient for your spend level, just leave them alone. If your utilization is low, it's going to be low whether you have thousands of extra dollars in buffer or not.

I think we have to look at the bigger lending trend here and not just CO. It is easy to get caught up in requesting CLIs that one doesn't really need. It is nice to have a buffer for emergencies to some extent, but also pays not to go too crazy with CLIs. 

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 I agree wholeheartedly.   Other than my JCrew card which I'm just growing for fun, the only time I request a CLI now is to replace available credit from a card I've closed.  In a couple months, hopefully my next round of CLI's will let me dump my Cabela's and PSV cards.

[Spotsy]

Well...I just had to toss my 2 cents into this mix as well....great dialogue on CO and their lending/CC Portfolio practices, but also our practices as CC users.

IMHO, there are 2 perspectives, ‘Business’ vs. ‘Allegiance’ in the CC world.

’Business’:   Large Lines need to equal large usage, swipe fees, interest earnings, other fees, etc....else don’t tie up capital for a zero/ minimal return. From a strictly business perspective , this makes senses and is perfectly acceptable.  If it were my money I may do the exact same thing, maximize my investment portfolio’s return. But I also close the door on future opportunities the get additional business with that same CC User. This view is more geared to the CC Issuer’s favor.

‘Allegiance’: Large lines and ongoing promotions, marketing... the overall goal is to make the CC in question the first choice in a CC user’s wallet.  The old MBNA CC issuer was one that boldly proclaimed they wanted to be the CC in a users wallet that had the biggest credit line. They felt this would drive loyalty, usage, and overall dominance in the CC market space.  This view is more midline between the CC Issuer and CC User’s benefit.  Discover Card more often aligns with this strategy, as an example.

For me, as a CC user, my only ask is that if a CC issuer wants to change terms and conditions on my issued CC, and the change is NOT a result of default in specific measurable terms listed in the CC agreement, I should have the right to remove the CC and corresponding inquiries from the credit report, or change the CRA reporting rules to drop inquiries and accounts from reports in a much shorter term period such as 6 months and 2 years respectively.  

I like large CC lines because it helps with utilization ratios, I am just playing inline with their defined CC scoring rules. I also like large lines as it give me a sense of acceptance and financial power should a need arise to flex some serious buying power. Also large CC lines reflect well in a CRA report and help get additianal or replacement large CC lines. You can’t fault me for trying to maximize my portfolio strategy? 

If they are going to change terms and conditions on a whim, then they won’t get my business.  If they don’t show me ‘love’ then why should I show them love? Their actions of changing terms can have a serious negative affect on my ‘perceived’ financial rating, even though I have done nothing wrong...is that fair? If a CC issuer wants to treat me as just a ‘number’, then is it unreasonable for me to treat them the same?

CC Issuers all have varying ‘sweet spots’ for their CC Users...if I fit into one for a particular CC Issuer, then great...will make them some money, if not, why not, what can I do to help the relationship?  If the CC Issuer simply chooses to ‘flush’ the relationship, then likewise, will sock drawer and move on.

[longtimelurker]

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@Anonymouswrote:

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@Anonymous

Any Capitalone card is not for maximisers.  But there are many people who like it’s simplicity, ease of getting the cards, and no foreign fees. If there is one thing I’ve learned on here is that all the cards are great for someone out there. I hate card snobs. Everyone gets cards for what’s best for them. What’s good for one isn’t for another. To each their own on cards.

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Agreed.  But, someone saying that they are sure no one outside of rebuilders cares about Capital One cards is a giant stretch.

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Right, and MyFico's opinion of Capital One has changed over time.    When I first joined, several people called it Crapital One, (and would use it several times in every post about the bank because it is just so very funny).   The major reasons were very low SL, and impossible to get CLIs without going to the EO, and often you would be rejected then.   I felt more positive because I had been given a $30K SL (many years earlier), the card gave a good-as-any 1.5% with hassle free redemptions.   But for most, this was a card just for rebuilders with no "growth" potential.

Then Capital One became very popular, as it started moving more from just rebuilders, giving outsize limits on some cards, allowed CL consolidation so people were getting very high limits (and if you confuse CL with assets, you were very happy!).

Now, at least for some, it is becoming more conservative, the high limits are going away, the no AF 1.5% is no longer so appealing with free 2% cards etc.

So, how long before Crapital One again!