What Is An Exceptional Score Actually FOR?

[BrutalBodyShots]

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@DXness wrote:

@BrutalBodyShots  I could not find any DP for account reviews happening on cards with CLs under $5K, so there may be a threshold where they don't trigger.  I also don't know of any DP for this happening on a VX.  Regular Ventures get hit all the time, though.

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@DXness, there were a good number of data points on Reddit about a year ago where initial CLs on VX accounts of either $20k or $30k were taken down to $10k (the minimum CL) on accounts that weren't heavily used.

[1lifeisworthit]

Hello OP.

I've just read your post, haven't read the replies yet (but will)

Just wanted to say that your post appears to be conflating 2 different things somehow.  There is a credit rating system, of which your FICO scores are a part... and then there is 1 single company that is incorporating that credit rating system into its decisions... but that rating system is only one part of everything that 1 single company is incorporating... Your reports, your income, the company's financial needs/goals... all of that and more are more important than a 3 digit score was ever meant to be.

Many people think that a good FICO score is all a creditor is looking for and it will even overide what the creditor needs.

In short, Your FICO score isn't influencing Capital One as automatically as you are expecting it to. But that doesn't mean the rating system isn't doing its job. There are 2 important parties here. Capital One and its needs, You and your needs. Cap One is using all its tools to evaluate your request and to see if that request fulfills its needs. Your FICO score is a tiny tool in that workbench. But it is a tiny tool that needs to be readily accessed when reached for.

So, don't throw away your FICO out of pique.  It still needs to be there, ready to do its job for Capital One or for any other creditor.

[1lifeisworthit]

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@Varsity_Lu wrote: Seems like I've been one of the few Cap One fans around here lately,  but it's probably because I've had a very different experience with them than most.... It's funny how peoples experiences shapes our opinions of brands. It is hard to change those opinions, too. For example, I will never, ever, ever use Wells Fargo for anything because of the crap they have been pulling the last few years.  My opinion of them will probably never change. But I like Cap One and some of you hate them to the core.

I'm with you, both on Cap One and on Wells.  Cap One has my brand loyalty... until they act like Wells that is. 

Cap gave me my rebuilding start, and I will always love them for that. If their conditions and terms change to the point I can't use my cards, I'll move on to using my other cards (I have other cards now, thanks to Cap One.)

I don't pretend they are other than they are, though. And I think that's where a lot of this "hate" happens. They (Cap One) are willing to let people get a foot in the door. They are also willing to slam that door shut and break feet when those people don't behave as they've agreed to.

I recently read a post where someone had opened a Credit Builder account... and then been late ON THE VERY FIRST PAYMENT!!!!... and was  upset by the response. "Shouldn't I be getting a second chance?" Like, Dude, do you know what a second chance even is?

The company I'm referencing wasn't Cap One, btw. But the attitude expressed is one I've seen expressed toward Cap One and its low end offerings, the people don't seem to know why these are low end offerings. I know. and I'm not complaining ever... Until Cap One turns into a Wells Fargo morality cesspit, then I'm gone.)

[sarge12]

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@BrutalBodyShots wrote:

I'd say more than half of the negative opinions of Capital One come from those that are unable to grow their card limit(s) to what they feel is an acceptable amount. With many other issuers (like Amex) making it super easy to grow monster limits in a short time frame, Capital One is often made to look like the bad guy. The same thing goes with how they use the "dreaded triple pull" for apps, where most issuers just HP one bureau report. I don't personally have a problem with it in the least, but it's things that like that where Capital One doesn't necessarily align with the norm where they tend to catch heat from the masses.

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I don't know about that BBS, many here, me included, do not like Capital One because applying for a card with them results in a hard pull at all three CB's. That is the main gripe I have with them anyway.

[BrutalBodyShots]

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@sarge12 wrote:

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I don't know about that BBS, many here, me included, do not like Capital One because applying for a card with them results in a hard pull at all three CB's. That is the main gripe I have with them anyway.

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I personally think it's a misplaced gripe. Hard inquiries are of the least credit-impacting metrics out there. Everyone expects their credit report data to match across the 3B for all other aspects of reporting, but not hard inquiries? The purpose of hard inquries is to alert anyone looking at your reports that you recently applied for credit. It's silly by design that one report would show that you recently applied for credit and another wouldn't; it's inconsistent data. I'm sorry, but Capital One gets it right from a lender perspective and what the system is designed to do. You're looking at it from a consumer perspective, which is natural and I get it, but credit scores aren't for consumers in the first place.