Re: Why Avoid Capital One? Only reason I can come up with is *B*. After all is said and done, only the EXP inq would remain.
Re: Re: Re: Re: Re: Re: Re: Why Avoid Capital One? YA J VICK IS THAT THE EXCEPTION OR THE RULE AND HOW MANY CALLS TO THAT ******* MR COOKE WERE MADE 200 300 GEORGE WON'T TELL YOU HE WILL SAY 2 OR THREE BELIEVE WHAT YOU WANT AND IF THOSE TERMS ARE SO EASY TO GET HOW COMEE YOU DON'T HAVE THEM !!!!!!!!!!!!!!!
Re: Re: Why Avoid C Reality about sub-prime accounts. Credit card accounts are bundled and sold to institutional investors based on the quality of the accounts - i.e. FICO score. Not attacking or defending Capital one, but the simple fact is that a credit card company can not simply upgrade your account to a prime account as your account is priced at THE TIME YOU OPENED UP THE ACCOUNT. The reason many companies, including Capital One, have left the sub-prime market is that the Federal Reserve has upped the reserve requirements for sub-prime accounts.
Re: Re: Re: Re: Re: Re: Re: Re: Why Avoid Capital One? My guess would be because of a Bankruptcy? Even if GEORGE called Cooke alot you have to admit he has a pretty good deal with Cap One. I would call that prime, at least in his case. I'm sure those terms are pretty rare with Cap One, I'll give you that. Also, If my credit reports were 100% clean with the BK(7) deleted also. I probably would not go with Cap One if I were in those shoes. But I would not bash Cap One on this board because alot of members and guests that read this stuff have to rebuild and repair their credit. Capital One is really one of the best choices for others with credit damage like myself. When a few credit cards are needed its really tough to just avoid Capital One. If some guests or new members came here and saw all of this "Avoid Cap One" or "Cap One sucks" they might go for cards like these. Cross Country Bank Aspire First Premier The catalog cards First Bank of Marin many others with montly fees + other rip offs Capital One is a much better choice and a good credit card if someone must go the sub-prime route.
Why Avoid Capital One? Well said. That is exactly my point. Not so much that Cap One should be considered prime, or in the same class as BofA, or any of the other banks that get rave reviews here, but keep it in perspective, it is a much better choice than most of the sub-prime cards.
Why Avoid Capital One? That is true. But, isn't there a timelimit, say 5-years when the investors are paid back with interest and then the accounts go back to Cap1 who then retains them?
Why Avoid Capital One? Credit card accounts are priced out at the basis of quality - i.e. unfortunately your FICO score - when your account was opened. If I was a Capital One shareholder then I would recommend that 1. Capital one should report your credit limit not your high usage 2. Offer a real secured account - i.e. if you make a REAL deposit and offer you maybe 80% credit limit - Deposit $5K and get a $4K limit. Before everyone screams at me, there really are some risks to the credit card issuer even if with secured accounts. In the very LONG run, it is in Capital One's own interest to keep customers that get out of subprime. Capital one is likely to lose a lot of former subprime customers when they become prime.
Why Avoid Capital One? So what your saying is that Cap.1 would like you to reapply for a prime account once you become prime. I think that by that time, it is too late and the damage is done.
Why Avoid Capital One? Brad is correct that the damage would be done by that time which is why I am not a Capital One shareholder.
Why Avoid Capital One? Originally posted by willgator YA J VICK IS THAT THE EXCEPTION OR THE RULE AND HOW MANY CALLS TO THAT ******* MR COOKE WERE MADE 200 300 GEORGE WON'T TELL YOU HE WILL SAY 2 OR THREE BELIEVE WHAT YOU WANT AND IF THOSE TERMS ARE SO EASY TO GET HOW COMEE YOU DON'T HAVE THEM !!!!!!!!!!!!!!! ZERO CALLS--4 PFB I DON'T HAVE TO PROVE ANYTHING TO ANYBODY!!!!
Why Avoid Capital One? I HAVE PERFECT HISTORY---so I should accept SUB-PRIME CREDIT??? I DON'T THINK SO!!! ANYBODY IN THEIR RIGHT MIND REALLY THINK THAT MR EUGENE COOKE WOULD LET ME CALL 200 OR 300 TIMES????? I still do not have the MAX $30,000 CL... I still do not have 4.99% that they offer... I NEVER SAID IT WAS EASY!!!
Re: Why Avoid Capital One? I definitely agree with this - a Cap One account is much better for rebuilding than these other rip off deals. I think a lot of the reason for my anger, and probably the others, is that we expected something different. Crap One says it wants to "Grow with" you - but when we grew, they tried to hold us back, not grow with us. When we reach the point where other cards are giving us $1,000 and $2,500 unsolicited CL increases, based on our scores and a limited history with them - cap one gives $200 increases. With Citi, I still had tax liens on my report, had only had the card 4 months - they increased my CL by $1,000, based on my history with them alone. With Cap One you prove yourself over and over, and still they won't upgrade or offer increases. My automatic 6 month increase last time was $200!!! They have never offered me their prime product - an I DO have prime offers coming in every day, have taken a few of them (although I try to be conservative, LOL). And goofy!! When Mom's CL was still $200 (and it's secured), we called (she tells them they should talk to me) and they tried to sell some program with special travel deals - charge hotel rooms and rental cars on the Cap One $200 gold card, LOL. What hotel is this, I ask........... LOLOL - how many nights can she stay there with a $200 CL - are you increasing it? Nope - no can do. I LMAO!!! They are still predatory, just not as bad as the others. Mom is 82, she wouldn't have known about hotel rooms and rental cars. I bet lots of old people take that and get their $200 CC charged the $89 a year for that travel plan!!!!
Re: Why Avoid Capital One? I 100% agree with what you just typed. I probably will be in that boat in around 4-7 years and will feel the same way if Cap One does not change. But for now they really are close to the best for the sub-prime area. I really don't know much about how or what they told others years ago "growing with" but can understand that they didn't help you REALLY grow. Got it. And they still say the same thing. Got it.
Re: Why Avoid Capital One? Everyone does know that they have recently cut themselves off from PFB, right ?
Re: Why Avoid Capital One? How recently? I used PFB in late October, and got my annual fees refunded.
