Tales from a Capital One employee

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Dayum. I have a quicksilver card I have been debating about closing. After this. I am. 

It is one thing to be a lender, but the callous attitude twds customers is repugnant. 

I work at a community bank, such talk - mood - attitude is frowned upon. 

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You mean to tell me you think Chase and AMEX are different in this regard? I might believe it from a credit union but publicly traded banks are trying to squeeze as much profit as they can. Chase and AMEX will both slash your limits and raise your APR when you have trouble way before Capital One would and just cause more problems for you. 

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The article shows a subculture at Cap One that is pretty horrific. Do Chase and Amex have the same daibolical sub culture in place? Maybe, but they are not, on the surface, the same as Cap One - who is a known subprime lender and also do business under the name Credit One. 

Amex and Chase are more diffcult to get credit with and do not appear to prey on lower quality borowers in the same way as Cap One. 

Smaller banks and credit unions pretty much eliminate such risk through robust underwriting and are therefore a more ethical place in which to obtain credit. Generally speaking.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Dayum. I have a quicksilver card I have been debating about closing. After this. I am. 

It is one thing to be a lender, but the callous attitude twds customers is repugnant. 

I work at a community bank, such talk - mood - attitude is frowned upon. 

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You mean to tell me you think Chase and AMEX are different in this regard? I might believe it from a credit union but publicly traded banks are trying to squeeze as much profit as they can. Chase and AMEX will both slash your limits and raise your APR when you have trouble way before Capital One would and just cause more problems for you. 

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The article shows a subculture at Cap One that is pretty horrific. Do Chase and Amex have the same daibolical sub culture in place? Maybe, but they are not, on the surface, the same as Cap One - who is a known subprime lender and also do business under the name Credit One. 

Amex and Chase are more diffcult to get credit with and do not appear to prey on lower quality borowers in the same way as Cap One. 

Smaller banks and credit unions pretty much eliminate such risk through robust underwriting and are therefore a more ethical place in which to obtain credit. Generally speaking.

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You're misinformed.  Capital One and Credit One are two seperate and distinct companies.

I read this article this morning in my doctor's office and personally I think the author is full of it, and is exaggerating.  Why stay 5 years at a company to which you claim you are morally opposed to their business practices and culture?

[gdale6]

Most of the big banks are like this. Not surprising at all.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Dayum. I have a quicksilver card I have been debating about closing. After this. I am. 

It is one thing to be a lender, but the callous attitude twds customers is repugnant. 

I work at a community bank, such talk - mood - attitude is frowned upon. 

---

You mean to tell me you think Chase and AMEX are different in this regard? I might believe it from a credit union but publicly traded banks are trying to squeeze as much profit as they can. Chase and AMEX will both slash your limits and raise your APR when you have trouble way before Capital One would and just cause more problems for you. 

---

The article shows a subculture at Cap One that is pretty horrific. Do Chase and Amex have the same daibolical sub culture in place? Maybe, but they are not, on the surface, the same as Cap One - who is a known subprime lender and also do business under the name Credit One. 

Amex and Chase are more diffcult to get credit with and do not appear to prey on lower quality borowers in the same way as Cap One. 

Smaller banks and credit unions pretty much eliminate such risk through robust underwriting and are therefore a more ethical place in which to obtain credit. Generally speaking.

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You're misinformed.  Capital One and Credit One are two seperate and distinct companies.

I read this article this morning in my doctor's office and personally I think the author is full of it, and is exaggerating.  Why stay 5 years at a company to which you claim you are morally opposed to their business practices and culture?

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Oh there are a ton of reasons TONS of people do this. I'd say the most important being that it isn't always a choice . .there could be factors like limited opportunity in their geographic area, transportation issues, authorization to work issues, or simply it being the best paying job they can get with their credentials.

I've had professional jobs for 20 years and I think that I only worked at one company for 5 years where I fully agreed with their business practices and culture.

It often also takes some time away from a company you were so immersed in before you look back and really start seeing it all . . . 

[Anonymous]

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@Anonymous wrote:

i'm curious, do they really give you an immediate automatic CLI if you carry a balace of 50% of your limit? a lot of stuff in this article was exagerated to make it more dramatic and i find that part hard to believe.

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I maxed out on two of their cards and didn't receive an auto CLI. They didn't reduct my CL either. I paid down the balances to $0 and was approved for manual CLI though. 

[Anonymous]

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quote "You're misinformed.  Capital One and Credit One are two seperate and distinct companies."

I stand corrected. I am shocked Capital One has not gone after Credit One for logo infringment.

[Anonymous]

They can’t - Credit One had it first. CapOne debuted their current mimic logo a couple years after Credit One put it into use.

[Remedios]

Most lenders could use some improvement in their lending practices but that lady just wanted to write an ode to herself. 

[GApeachy]

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@Anonymous wrote:

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I maxed out on two of their cards and didn't receive an auto CLI. They didn't reduct my CL either. I paid down the balances to $0 and was approved for manual CLI though. 

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How long did it take you to get the cli?  Also, how long have you had the cards before doing so?  I ask because I decided to max out all three cards this month, over 90%, paid them down to under 20% and asked.....told not enough experience. (seems to be a theme for me across the board) I haven't had the cards over 6 months so....

[MasonK]

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@GApeachy wrote:

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How long did it take you to get the cli?  Also, how long have you had the cards before doing so?  I ask because I decided to max out all three cards this month, over 90%, paid them down to under 20% and asked.....told not enough experience. (seems to be a theme for me across the board) I haven't had the cards over 6 months so....

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The CapOne MC Platinum was my first unsecured card and a daily driver for two years before my other, much better cards, took over. The chart shows my CLIs (hopefully it still looks right after I post it). I haven't qualified for LUV in over a year because I don't use the card at all. All DPs I've seen are that CapOne likes swipes more than anything. My last three CLI denials were basically "you don't use this card enough". If you use it a lot, three to six months is what I usually see. I would get the "not enough experience" message usually around the 3-4 month range, and then I'd wait a month before I'd try again.

CapOne	$2,000	$0	$2,000	2016 Nov
CapOne	$2,000	$200	$2,200	2017 Apr
CapOne	$2,200	$500	$2,700	2017 May
CapOne	$2,700	$500	$3,200	2017 Oct
CapOne	$3,200	$1,000	$4,200	2018 June
CapOne	$4,200		$4,200