How stupid can capital one be?

[dfwxjer]

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@Mrsell wrote:

They do need me more than I need them, I can buy the car outright in full in cash easy peazy. The only true purpose of the loan would to go on my credit history as a paid auto loan and nothing more as previously last year I got a 70k auto loan from my bank chase and paid it in full within 8 months and certainly can do that again with no issue. But yes I will take it out on them and cancel my card today. At least chase treats me with the value I deserve with my credit limit and loan offers. Not like capital one that lowballs me on my credit card but treats me like a king for an auto loan. So altho yes to your point they won't care which as you said is true, but again doesn't change the fact that they need me way more than I would EVER need them.

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If you have a good relationship with Chase then why are you wasting time and getting emotional over Cap1? 

if you have paid auto loans through Chase then why do you need a cap1 auto loan to report? 

cap1 credit card generated $27 billion in revenue in 2024. I assure you, you need them more than they need you. Otherwise you would have cut losses and moved on without getting this upset over a bucketed sub prime card. 

[Mrsell]

Because it makes no sense they can't get their act together and give me a 600.00 limit which I can make more or less in a day but yet their loan department knows better. To be honest with you I don't need any loans or cards at all, as mentioned I can buy the car I was looking out in full right now with zero issue. It's only a matter of do I want to buy credit or not? And my goal is to have my score at 800 throughout the 3 bureaus so this is the only reason I am considering it. But make no mistake I definitely 100% don't need them, as a matter of fact I already canceled my card with them and told them to shove this loan where the sun don't  shine. I will call chase next and get approval literally while still on the phone with them as I did before. 

[Varsity_Lu]

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@Mrsell wrote:

And my goal is to have my score at 800 throughout the 3 bureaus so this is the only reason I am considering it. 

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You don't need a loan to get over 800. I haven't had a loan since 2007 and my oldest active account was opened in 2022. My score was 812 last fall. I have opened 4 cards since so my score has dropped a bit, but it will be up over 800 again once my new my accounts are past a year old.

[dfwxjer]

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@Mrsell wrote:

Because it makes no sense they can't get their act together and give me a 600.00 limit which I can make more or less in a day but yet their loan department knows better. To be honest with you I don't need any loans or cards at all, as mentioned I can buy the car I was looking out in full right now with zero issue. It's only a matter of do I want to buy credit or not? And my goal is to have my score at 800 throughout the 3 bureaus so this is the only reason I am considering it. But make no mistake I definitely 100% don't need them, as a matter of fact I already canceled my card with them and told them to shove this loan where the sun don't  shine. I will call chase next and get approval literally while still on the phone with them as I did before. 

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Good luck, life sounds really hard

[Cblough93]

My guess,

They have reason to believe you will not be a profitable customer for them. This is evidenced by the fact that you always pay in full before the statement even cuts.

capital  one is big on interest, so they like people who are bad enough with credit to roll balances over, but smart enough with their money that they can still pay their bills. The perfect amount of "bad with credit cards"

If you spent a ton of money on that card every month to show them they could make money on swipe fees, that may make a difference. But you would have to cycle your credit limit 3-5 times a month. Probably put 3-4,000 a month on it at least if you wanna get noticed. 

[redpat]

Don't hate the lender and trust me, they don't need you (wishful thinking though).

What was your credit score two years ago?  You might have needed them then.

[Mrsell]

I actually have done that several times over the course of the year, they actually even let you go a bit past the limit so for example my limit is 600.00 and I put I forgot the exact amount but as far as I remember it was about 650ish dollars and they let it go thru several times. It was literally so stupid because I'd also have it maxed like at 597.00 pay the entire balance when it appeared in the app to allow me to do so, max it again, pay the entire balance again which takes maybe 2-3 days and repeated that many times. Let's be realistic here not many are paying that full balance like that over and over and over like that which is another reason why I say they needed me more then I would ever need them. And I'm using needed in the past tense because I canceled them. As a business man I'm not into playing these stupid games with them. Especially since I can pull one of many letters I receive almost on an everyday basis and get 10k limit off the bat. I'm sure they will still make money but it's not going to be my money anymore.

[Mrsell]

Probably in the low 600s but that is due to many errors on my report that needed to be updated as paid, deleted because it wasn't mine, or proven it was paid on time altho reported late. So now that all of the reports are accurate now, they are in the 750-774 range. I honestly still didn't need them anyway to be honest, I could just buy in full whatever anyway. I was pretty much only buying credit by using them is all.

[Anonymous]

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@Mrsell wrote:

 which is another reason why I say they needed me more then I would ever need them. 

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OK, so do you think that on some banker forum (TaketheSuckersForAllTheyHaveAndThenSome.com) there is a Capital One banker saying "Oh no, we've lost MrSell!   We needed him so much....."

Probably not.   I'll go with you each need eachother not at all, but Capital One won't miss you any more than you will miss them.   You were a TINY part of their revenue and I'm surprised as a "business man" that you don't get that.   The scale is all wrong.

[redpat]

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@Mrsell wrote:

Probably in the low 600s but that is due to many errors on my report that needed to be updated as paid, deleted because it wasn't mine, or proven it was paid on time altho reported late. So now that all of the reports are accurate now, they are in the 750-774 range. I honestly still didn't need them anyway to be honest, I could just buy in full whatever anyway. I was pretty much only buying credit by using them is all.

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Well you should have never applied for a card until your CR was updated, that is your fault and that is why your card is bucketed.  

Anyone getting a CO with that low of a score will have the same result as you even if they have an 850 score now.  They need to apply for a new card to get a $10k - $30k CL.