Ok I'll chime in. Cap1 has been good to me and the 8.9% rate is better than some of my other Prime cards. Here is where Cap1 stops being Prime in service. To get an appropriate increase I have to use PFB and wait for a call from executive offices. I have to spend a half hour on the phone negotiating with them for what I want. Once I get the increase I have to BT close to the new line to get it to reflect like it should in the first place on the CRA's. This in contrast to I called BofA 5 minutes later got a generous increase and it reflected on my reports. When they offered 5.9% I again called and 5 minutes later had 5.9% on my account. Cap1 can be "Prime like", but until they get there service together they will never be Prime and as a sub prime card they are fabulous. Truth be told though I like the art of negotiating with them...lol 8004me wishes everyone a wonderful holiday and is thankful for many things today.
Re: Why Avoid Capital One? I don't know what to say , cap 1 is one of the worst same boat as providian or ccb they do not report limits for a reason to keep customers in subprime land and you call a 1,000 or 3,000 plat card prime come on thats a joke and you know it and as far as having cards believe me when I tell you I've had them all at one time or another.....so save the speech....
Re: Re: Avoid Capital One ! tell us the truth whats the credit limit on your card , and tell us if it reports to the cra's with a limit or high balance ...........
I have a Cap 1 and have never had a problem. They just increased my line by 2500 unsolicited. www.creditsense.com
Re: Re: Avoid Capital One ! I think your missing the point, not reporting credit limits is a problem for everyone that has this card ..I am glad you got a 2500 cl increase , hell I just got a 15,000 increase on my amex blue no problems either and they do report credit limits and apr is 6.99 thats what I am talking about prime lenders do not try to hold your score down artificially by not reporting limits and jamming you with late charges.....
Re: Re: Avoid Capital One ! Ok My carnival mastercard with Capital One has a 5500.00 CL at 9%...... My Chase platinum has a 5k limit with a 7% rate My Citibank has a CL of 2500.00 w/9% rate These are the only 3 cards I have and they all have no balances (except for the Citibank 350.00 which is a BT at 0% for 6 months) My Capital one does not report the credit limit but my high limit was 3900 so it shows as that and not carrying a balance helps the ratios anyways. I've not had ONE late charge with Capital One....late charges are if you pay LATE...why would you blame the creditor for THAT? I'm confused as to why you are saying it's their fault they are charging you late charges. And as for Credit lines...who cares! Buy something and return it if it bothers you that much. Out of one card they are the only ones that report my high limit. All my others report the actual credit limit. But it doesn't matter to me cause I carry NO balances on my credit cards.....I charge and pay in full the next month.
Re: Re: Re: Avoid Capital One ! first of all never had to have a crap 1 card scores all over 760 never had a late with anyone...... and I am so glad you told me you had to run out buy something and return it for them to report a decent high balance does that seem like something you should have to do ?????? LOL DO YOU THANK EVERY CONSUMER WHO HAS A CRAP 1 CARD DOES THIS!!!!!!! if you do you a re a fool they kill consumer credit scores to keep them subprime and you say they are a prime card company lol you have a lot to learn!!!!!!!!!
Why Avoid Capital One? RE: >> you call a 1,000 or 3,000 plat card prime come on thats a joke What is the definition of Platinum? I don't know, and I agree to call a $1k limit a Plat, sounds a bit low. But if you read my original post, "I was pleasantly surprised when they sent me a $5K Plat." $5k sounded like a resonable starting point for Platinum. RE: >> and as far as having cards believe me when I tell you I've had them all at one time or another.....so save the speech.... Making remarks like, "If you love cap 1 my guess is you have never had a prime card" sounds like you folks who never had a prime card don't know what you are talking about. I felt my previous "speech" and this "speech" are necessary to share information with folks who never have had a prime card to let them know, yea, I've been on both sides of the fence, and from my experiences, Cap One is OK. I didn't say great, or extraordinary, I said OK. Feel free to tell us why Cap One Sucks, and state your reasons. That's cool. No Problem. But when you make remarks like, "If you love cap 1 my guess is you have never had a prime card" that is getting just a bit too much "in your face" Just my humble opinion, Best wishes to all for a Happy Thanksgiving, and a Happy Holiday Season.
Why Avoid Capital One ? So are you saying you are sharing with us your thoughts with dealing with Cap One, even though you've never dealt with them???
Re: Why Avoid Capital One? I just state facts not here to kiss any ass crap 1 is a card for people who need credit that can't get prime credit else where, yes I think everyone has been there because of no credit or bad credit.. but any company that makes you buy items and return them, or run up your card just to get a high balance, follow me here....IS NOT A PRIME CARD.. any card that makes you pfb mr cooke to get a cl increase or apr reduction IS NOT PRIME.... any card that gives you a 500 dollar plat card then gives you a 150 dollar cl increase after talking to mr cooke IS NOT PRIME OK RANT OVER
Why Avoid Capital One? My CAPITAL ONE 3.90% BT/PURCHASES 5.90% $20,000+ $0.00 BT FEE $0.00 ANNUAL FEE PRETTY GOOD SUB-PRIME CARD
Re: Why Avoid Capital One? **any card that makes you pfb mr cooke to get a cl increase or apr reduction IS NOT PRIME.... HMMMM...I've never had to do that!!! I started with 2k and now it's 5500 without asking anyone. It was automatic because I paid on time every month. And my interest rate was 9% all along. Why accept a card that is HIGH if you don't want it!!! And don't carry balances on your cards and interest rates won't matter so much. And as for the tiny CL's everyone is stating what is their credit looking like...late pays, etc??? There has got to be a reason for a measly 500cl!! I have no lates on my credit and I pay my cards in full each month. That has gotta amount to a better CL then someone who doesn't. And if you don't want their card then don't use it and get rid of it instead of whinning about the terms. **crap 1 is a card for people who need credit that can't get prime credit else where. And I totally disagree here too! Capital one does not only have subprime cards. They give subprime to people who can't handle their credit or who are reestablishing. They don't only cater to people who's credit sucks!
Re: Re: Why Avoid Capital One? Sorry to say I'm not....well actually I'm glad to say that I'm not.... Oh and BTW just to let you in on a secret...my ID is IAMBROKE....so don't take it literally but I guess I got you there, eh? HAPPY THANKSGIVING EVERYONE!!!
tobasco, Did you think this would be such a lively thread when you started it! I have read a lot of Cap One bashing, and I personally never had any issues with them. For me it is actually quite refreshing to see folks share positive experiences. Puts in all in perspective.
Re: Why Avoid Capital One? THIS WAS DONE IN LESS THAN 2 YEARS!!! 2 into 1 (hers) 1 of mine combined with hers---1 "JOINT"
I use Capital One as my gas card. I don't have a large limit with them yet but they are my oldest card. I charge the card up each and every week and I pay it off weekly. My only complaint with them is they put a hold on some of my payments if I make more than one payment in a one week period but if I call them and talk with them they automatically remove the hold. I figure within a year I will have a much higher limit with the amount of payments I make. I only started the high payments in the last two months but have had the card two years now.
