Capital one business model, pure genius

[SUPERSQUID]

It dawned on me today how genius it would be to dangle raw meat in front of hungry wolves and then i thought of an analogy of a credit card company holding credit cards in front of people with poor credit.

the cards would have low limits or bucketed and have little to no chance of reaching primo limits.

the hungry people would be running piles of money through the cards praying for the cli that never comes.

i bet cards like that get a lot of use

genius i tell ya

[Remedios]

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@SUPERSQUID wrote:

It dawned on me today how genius it would be to dangle raw meat in front of hungry wolves and then i thought of an analogy of a credit card company holding credit cards in front of people with poor credit.

the cards would have low limits or bucketed and have little to no chance of reaching primo limits.

the hungry people would be running piles of money through the cards praying for the cli that never comes.

i bet cards like that get a lot of use

genius i tell ya

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Sigh.

You got it all wrong because ABS. 

Read up about it and why it would be extremely difficult to move an account away from tranche in which it was sold to another one. It would also explain the difference between "cannot grow" and "hard to grow"  

It will explain why use helps CLI wise with one but not the other 

[SUPERSQUID]

I meant it as a joke, i just posted it in the wrong place.

i was giggling as i wrote it, not serious at all

I see some people getting very good sl's from cap 1 just not me.

at one time i had 7 of their cards because at the time they bought other banks, the same happened to me with chase.

i had my first cap 1 in 2001 until 2019. sl was 500 and in 2019 cl was still 500. at the time my income was 100k plus and my ficos mid 700's

[TattnallTrio]

I agree... I closed both of my bucketed CapOne cards. I had a QC1 that started at $1,000 4 years ago, it was in their credit steps program and increased to $1,500 a few months later. And only gave 1 $150 increase. I closed it. I also closed a QS Visa (was a Journey Visa and upgraded to QS)  it was originally $300 and through the Credit Steps it went to $500 and didn't increase. 

This QS Visa was my favorite card until I got approved for a BBVA Visa. 

I hope others close their bucketed accounts also. 

[SUPERSQUID]

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@TattnallTrio wrote:

I agree... I closed both of my bucketed CapOne cards. I had a QC1 that started at $1,000 4 years ago, it was in their credit steps program and increased to $1,500 a few months later. And only gave 1 $150 increase. I closed it. I also closed a QS Visa (was a Journey Visa and upgraded to QS)  it was originally $300 and through the Credit Steps it went to $500 and didn't increase. 

This QS Visa was my favorite card until I got approved for a BBVA Visa. 

I hope others close their bucketed accounts also. 

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The person responsible for inventing those bucketed cards should get a nobel prize.

[aynot4fitness]

My 2 oldest cards are a bucketed C1 Platinum and a Merrick Bank Visa. I got them both in 2004 after my BK in 2003. The C1 has a $1750 CL, and the Merrick is $4600. I keep them in the sock drawer and pay the AF for both because my AAoA and AOA will plummet if I close them. After those cards in 2004, I didn't open another card until 2012. I was shell-shocked after the BK. The Merrick card hasn't had a CLI since 2016, and the C1 was getting tiny CLIs until 2019. I probably should close them anyway, but keeping them isn't killing me. Genius indeed!

[Horseshoez]

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@aynot4fitness wrote:

My 2 oldest cards are a bucketed C1 Platinum and a Merrick Bank Visa. I got them both in 2004 after my BK in 2003. The C1 has a $1750 CL, and the Merrick is $4600. I keep them in the sock drawer and pay the AF for both because my AAoA and AOA will plummet if I close them. After those cards in 2004, I didn't open another card until 2012. I was shell-shocked after the BK. The Merrick card hasn't had a CLI since 2016, and the C1 was getting tiny CLIs until 2019. I probably should close them anyway, but keeping them isn't killing me. Genius indeed!

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I think it might be worth mentioning your AAoA and AoA will NOT change if you close those old cards; they will stay on your record for up to 10 more  years, and when they fall off then, it really won't impact your scores at all.