Beware of any pre-approved offers you get in the mail for Capital One Platinum Mastercard!! I got one several weeks ago and it informed me I was pre-approved for a mc up to $5k limit. Unfortunately, I did not read the fine print and went ahead and sent it in. After a couple weeks, I got my mc with a 5k limit, except it's got a 16.9% apr and a $72 annual "membership" fee which is billed $6 per month. I feel cheated because I thought this was the no-hassle 9.99%apr no annual fee card they advertise! I think i'm gonna cancel it. The more I think of it, Capital One is really not helpful on your report because they dont even report your credit limit. What good is a 5k card when it reports with a credit line of "n/a"??? In my opinion, that may end up hurting your score! Frustrated!
use www.planetfeedback.com tell them you're disappointed. with 5k credit line it should be a plat not gold (tell them you wanted the year end summary as you would have used a Plat card a lot), 0 annual fee, 8.9 across the board in interest rate. I'll bet you get the account changes easily.
Actually it is a 'platinum', but I thought all their platinums had $0 annual fees? Anyway, here's the deal. I just called them and they gladly agreed to waive the $72 annual fee, and will credit the one month $6 they already charged me for. I guess I'm a bit more satisfied, but what bugs me is that they don't report credit lines to the cras. A 5k cl would look nice on your cr.
You're right, especially since i'm getting many $0 pre-approved offers, and most of my cards dont have fees! My gold Cap One has a 13.99%, but the "platinum" is 16.9%?? makes no sense!
Get a hold of Mr Cooke and tell him to permanently remove the annual fee and see if he can reduce your a.p.r.
They said keep the account in good standing and we'll waive it next year too when you call. That's a "hassle", no pun intended!
Jr, thanks for that tip! I didnt know i could do that. I actually already got a statement. I should do that for my other 2 Cap One accounts too!
ok. but again. go to planetfeedback. be nice. thank them for refunding it but say you expected more from them since they have such a great reputation. tell them you wanted the no hassle card with a 0 intro rate for 6 mos, 8.9 fixed rate after that (across all buckets, not just purchases), and 0 annual fee. after all, why should you or them have to deal with refunding an annual fee every year... trust me. terms are easy. you'll get it. get the 0 intro rate for your trouble be nice to them and they're wonderful. I genuinely respect the cap1 employees at the exec level. they're fair and very customer service oriented. If you have any balances on any other cards, you might even tease them at the end of the call about getting a line increase to move the balances over to Cap1... worth a try
I find their tactics very annoying. They gave me a $1000 CL increase on my gold card, and at the moment it saved them from being closed - I closed Associates instead. I don't have a balance on the Cap1 card and now it is reporting 0 balance and 0 limit. Now, if they didn't report at all it would be different. But If I use the card, my score will drop. At one point I had run it up and then back down to show a limit, but that limit isn't showing anymore.
Try this...copy your bill showing your name, address, acct#, and CREDIT LIMIT... HIGHLIGHT the CREDIT LIMIT in FLOURESCENT HOT PINK and send it to them and ask them to report the correct information AS REQUIRED BY LAW!!!
Honestly, I am more inclined to get rid of the card. Why should I have to spend my time and energy doing stuff like this? I really do have a life, LOL. And, it's like they're punishing me for not carrying a balance - that's not nice.
