UPDATE: Cap One closes down $20.12 a share!!!! This is almost a 40% drop in one day (prior close was $50.60)!!!!! http://qs.cnnfn.cnn.com/tq/stockquote?symbols=COF
At 6 months, write a letter to Mr. Cooke through PFB, he can and will give you a bigger credit line increase than regular customer service can. Dinner at the Ritz. LOL
I think the first thing is to get off the secured cc status. Bug Cap1 after 1 year to refund your deposit and unsecure your account. This should help in the cl increase department. Cap1 seem to grant cl increases every 6 months, about $50.00 for every month. If you go over limit than the clocks starts over again. So 6 months of being good. If you need a cl sooner call Mr. Cook and ask him to look into it. My account was unsecured after 4 years of being secured that was only learning from this board that I can PFB Mr. Miller. I maybe a rare bird as I have never received any offers from Cap1 for other products, example Gold or toy Plat status. I did speak to Mr. Cook last Oct. and requested Plat. status, after consented to a hard inquiry he said NO but gave me a $300 boost. Since than nada- I have a perfect payment history going back to Oct of 1996. My current CL is 3k, I started out at secured status of$200.00 In the meantime my Target Visa started me out at 6k and after 6 months gave me a $900 increase. Providian granted me my annual cl increase of $60.00! I am up to $6860.00 So Cap1 can lead to good things. Best regards, Mirage
Wallstreet is very unforgiving. Capital One had a good Q2 result that exceeded the expectation. They recorded 37% increase in Q2 numbers. But alas, the street ignores good news for bigger bad news. ============================= Capital One Financial Corp. plunged ~$20, or 40 percent, to ~$30. The fifth-largest U.S. issuer of Visa and MasterCard credit cards added $247 million in reserves to protect against loan losses under an agreement with regulators. ============================= By the way I read somewhere that subprime market is only ~40% of Cap1 business, specially since 2001 when they are targeting higher income and more prime customers.
I'll take a limit increase...I have 2 months of PERFECT payments...$7,500----->$20,000 should be good for now...
Just give them a call and ask, it wouldn't hurt. I don't have a secured card, but I received one automatic increase and a month later I called and got 500.00 more.
Chargedoff, Cap1 has a real credibility problem and, they have a lot of fence mending to do with investors. Thestreet.com has been rasing these sorts of questions since Jan. Cap 1 has denied there is a problem and refused to answer questions about the mix of prime vs subprime and credit limits, etc. Well, they have a blowoff quarter no doubt but then, they pick last evening to slip in this little news about curtailing subprime growth, etc. Given the Enron and Worldcom mess, honesty and intergity do matter to the market. The question investors are asking is what else could be lurking in Cap 1's books?
O.K. George, you have it. Mr. Hermit just approved you for the limit increase you requested. It will reflect on your account in a few days. Live it up!
I have to wonder if having had a secured card puts you in a differrent status with them. My first card with them was the classic but it was unsecured. After a year I started recieving the toy platinum offers from them. I recieved one in January and then again in March. I took them both and then I recieved another in May for the Kmart toy platinum. Mr. Cooke told me once that I needed a $5000 limit in order to transfer the classic into Platinum. How long has it been unsecured? I didn't get offers till after a year with them.
Yes, being secured puts you into a different status that unsecured. I remembered getting offers to add to my security deposit to increase my cl. I've been unsecured for close to two years. At this point I am not seeking anymore cl increases from Cap1. I have the reported limit very close to my actual cl. Since Cap1 is my oldest tradeline, this will stay. I have 14.5 months to go unto my bk-13 (filed in 96') falls off. Getting a home loan for 6.75% this summer was the major goal in my rebuilding process. This board has given me more hope and advice than I thought possible. You get to the a point in your credit-rebuilding process that you start to have choices. The only sad thing is that it looks like even the sub-prime lenders are being forced to tighten their guidelines which can make it even more diffcult for newbies trying to rebuild. The Chase and Amex products are only 1 year away, so I wait! Best regards, Mirage
