I know CapitalOne isn't everyone's favorite, but my gosh, I am just tickled pink with them. I have never, ever asked for a rate reduction. I started out at over 20% interest with a $49 security deposit and had $1000 limit. Never thought until recently to ask for an increase - no problems, got $300 a few months ago. My interest rate has been going down steadily without doing a thing! I've had the account for 20 months. I just checked my online statement, and it went down again from 10.63%... my rate is now at 9.94% - for a SECURED card! (cash advances are something like 16% but I never use that anyway, so I don't pay it much attention). I called Cap1 the other day and asked about merging my account with my hubby's and she said no problem (cool - his interest rate is 16.63%). She also said that next month I'm eligible for another increase. I think I'll apply for the increase and then wait a bit and then call to merge our accounts. I also asked how I go about getting this account unsecured. (Iknow $49 isn't much, but it's just the principal of the matter). She said I have the choice every 6 months of either 1) getting my security deposit back or 2) getting a rate increase. So, just an FYI about Cap1 and secured accounts and a very happy customer! =-) Ozzy.
Yeh cap one is cool. I started with cab one in November at 100.00 by december 30, they raised my limit to 500.00 no request made and I did not use it. they said it was because of my good paying history. I do not have a history I have not paid them because I have not used the card. But it is still nice to get the increase.
They have been very good to me also. Combined my cards to get a higher credit line, dropped my rates, and upgraded me to the Visa Gold. I have been very happy with their CSR's and Mr. Cooke. The key is to never call in angry, because of course they won't go out of their way to help you. Be kind, but firm in your requests.
Ozzy- When you're ready for your next increase, send off a letter via PFB, you'll get a call-back from Mr. Cooke, he'll give you a line increase AND unsecure your card.
I like Capital One very much. They have treated me very well over the years and I can see by reading creditnet that many people are satisfied with Cap One. The starting credit lines are small but will grow with time and the A.P.R. can be reduced over time. Capital One is very conservative and I think that helps them from having to many charge offs. If they gave all of us huge credit line increases or high credit lines they would probably be in trouble like Providian.
Compared to Providian, Cap 1 is Golden! Both my husband and I canceled Providian because of thier constant telemarketing, harassement, etc, adn very stingy increases and rate decreases. Cap 1 has been very good to us. We have good limits and great rates. Asside from Cap 1 (2 cards) we have a Universal card, that is also very good. Go Cap 1 and Mr. Cooke.
Ozzy Is or was your hubby's account secured at one time? I called a few days ago to try and combine our accounts-the CSR said we could not because of them being secured (his has been unsecured for a while now but mine still has a $49 deposit).
My account has the $49 deposit. I didn't get the impression (nor was told) that becuase of one account being secured that it would be an issue to combine them... hmmm...wonder if this is one of those deals that the answer depends on who you talk to..... Weird thing is my account is at 9.94% (and it's secured) hubby's is at 16.33% and isn't secured... Ozzy.
Forgot to mention that she also said it would have to be joint accounts (AU wouldn't work) She told me to reapply for an unsecured card as a joint then we could just close the other two.......that would be defeating the purpose (said we could not combine either of the two with the new one if we were approved)
How come you'd want to combine CL's but just be AU's on each other's account? I thought when you combined, it became a joint account with both credit limits from the individual accounts merging to create just one larger limit. I'd call back again if I were you - ya might get a better answer...<g>.... Besides, every 6 months you're able to either get a CL increase or get your card unsecured. So if that is the policy (can't merge secured/unsecured cards, which I guess now that I think about it would make sense..) then when your 6 months is up, unsecure your card, and then at the next 6 month point, combine. Ozzy.
Thats what I thought. she said in order to combine accounts they both have to be joint accounts with both our names. I am an AU on his (she said that would not work.) I think I will )
