I got some offer from them recently which said it was an entirely new type of card with an upto 30,000 limit. They were pushing for balance transfer and said they usually approve the entire balance transfer. I remember their website was getmycard.com, but I'm not sure if it was this one or the plat mc. Does their plat mc use the same website? I didnt bother to apply when I saw it was capital one because I figured their limit would be in the "mini toy" variety. What kind of limits do you think they are going to offer with this new card? Everywhere else says upto 100k capital one admits that they are only going as high as 30k.. Gdeorge beat that already with his mbna card.
Wife rec'd this in the mail today, 4.99 lowest fixed rate in the cc industry it says on envelope. Her scores are 760's...JFYI
Here's the update on my application - I got declined. Here are the stated reasons: 1) There is insufficient satisfactory credit history on accounts with high lines of credit 2) There is an insufficient number of satisfactory tradelines 3) The is no presence of mortgage account on credit bureau report 4) The ration of balance to credit limits on revolving bank accounts is too high #1 - highest (reported) credit limit is 4160, so yeah, no long history on high credit limit card. #2 - 5 on 2 reports, 4 on the other (plus an old one that reports as "unknown") #3 - True #4 - Utilization at time of application based on reported credit lines was 12%, hardly high And of course they knew all this when they sent me the invitation since my report. Oh well. Those are some of the factors they appear to be looking at.
Looks like Cap1 wants to attract the prime customers that they can cross sell mortgage products to. Only problem is Prime customers expect Prime benefits and therein lays the question if they can deliver. Cap1 one was the only card that I ever had to PFB for what it is delivered with a phone call to customer service or retention.
Have a Cap 1 account for 6+ years with perfect payment history. (with that ugly green marble design) Current cl 3.2k with no increase in over a year. Still my oldest TL so dropping it is not an option right now. Never received any upgrades or other cc offers from them. I don't understand why even bother to advertise a product that most people who need a cc will never qualify for. I mean if I was super prime what would I whip out my AMEX Plat. or my Cap 1 card??? Best regards, Mirage
Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? Well DUH...you're forgetting about all the pirates/eskimoes/indians/sea creatures it fends off!
Re: Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? Cap One offered me a BT of 3.9% for the life of the balance. If you want the low rate for BTs only, call Cap One and see what they can do for you. Or, use PFB to get the low fixed rate and BT rate for life of BT. CardKid
Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? Capital One definitely does seem to be trying to get into the prime market because they sent me another invitation for the 4.99 plat card as well as an inivtation for a 4.99 world master card. I decided I might as well try because of the great interest rate. The limits said they go from 7k to 30k. I received the infamous you'll here from us by mail within 7-10 days, so I assume this means a rejection. Is it possible that they'll send another card with slightly different terms?
Re: Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? Naw, I would use my Discover card with that fangle new design. Best regards, Mirage
Re: Re: Re: 4.99% CAPITAL ONE INVIT Mirage.. I had a 7,000 balance on my Discover Card who's 0% offer was about to expire in August .. a call to Cap One..who I haven't used or heard from in ages got me a no fee balance transfer of 2.9% until paid....well worth the call. If you have any balances.. give it a thought. ~Cherie
Re: Re: Re: Re: 4.99% CAPITAL ONE INVIT Cherie, thanks for the tip. Unfortunately my bk-13 is still hanging around until 10/2003. When it does fall off, I will moth ball my Cap 1 since it is my oldest TL. May see what happens with them later but presently I feel that Cap 1 has and will always treat me as sub-prime client. Best regards, Mirage
Re: Re: Re: Re: 4.99% CAPITAL ONE INVIT I received another invitation (for the exact same 4.99% offer) as well! They invite me to apply... I apply... I get declined... They invite me to apply... Something isn't working quite right at Capital One.
Re: Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? Funny, I was with Capital One for over 4 years with 2 accounts (unsecured) and could never get them to upgrade me to Platinum. Practically begged. Same with Providian. Now THEY are begging previous customers who have excellent credit now (and before leaving them) to open a new account. Doesn't it make sense that it's "cheaper to keep em'"? They let many of their best customers slip right through their greedy little fingers. Anyhoo, I don't think it's worth the 3 inquiries for this card right now. Besides, I bet if I hold out, they will offer the 4.9%. LOL [/B][/QUOTE] Well, that was quick. They just sent me the 4.9% offer. LOL I really wish I could have converted the previous account I had with them for over 4 years with no lates or overlimit. It's really stupid on their part to make a current customer close out an account and reapply for their "Super Prime" accounts. Interesting thing is that the credit limit they are offering is between $7,000 and $30,000. No mention of their famous "limit can be as low as $200". I guess if you are not good enough, you just get denied flat. I'm still kind of bitter. Not sure if the 3 inquiries are worth it. LOL
Re: Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? Has anyone actually gotten this card? Its seems like several of us are getting pre-selected applications but then not receieving the card. I didint get my official decline yet, but they said I'll hear from them within a week so I guess that is a decline. I even tried to find out about the card from the 800 number for new applications, but that wouldnt tell me anything. It just said they recieved my application and I'll receieve an answer my mail. I guess that means a no b/c otherwise it would have told me congratualtions or my new credit limit or something like that.
Re: Re: Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? "I'M GOING OUT OF TOWN NEXT WEEK...I must find out when I'm getting my credit card in the mail so I can have my neighbor get my mail EVERY-SINGLE-DAY so it won't sit in the mail box for over one week"
Re: Re: Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? Wife just got the card yesterday's mail...$15K limit, no BT's requested at time of app (they pushed it in the invitation)!
Re: Re: Re: Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? They will send her a letter saying YOU FORGOT OUR BT OFFER...WE CAN STILL LET YOU HAVE ONE OR 5...(SEE CHECKS ATTACHED or CALL 1-800...) it may even be at what a few of us have 4.00% TILL PAID...and RENEWABLE...so if you do another...you still get PRIME + 0.00% NO FEE till paid...
Re: Re: Re: Re: Re: 4.99% CAPITAL ONE INVITATION ONLY??? Hubbie was sent the invitation only cap1 no hassle preapproval offer with the 4.9% rate. He applied and got it without any hassle. He has a cap1 gold already in good standing with them. They have always been great to my hubbie. His GM Card jumped his interest rate way up to a subprime h*ll rate and we are transfering the last of the balance to his new card and sending the GM card to the sock drawer. I personally like them (i know others don't) , but with hubbies current scores, the interest rates they are giving him is great. FYI- His scores are in the mid to high 600's with one paid judgement in 5/2002 and no charge offs or collection agency accounts left. (of course this is all because of this great board
