I received 2 guarented offers for a Cap 1 Platinum Visa with up to $7500.00 limit and 14.9 APR. I spoke with them today and they said I am guarented approval at $500 to $7500.00 limit. I need a new credit line as I only have one active card. I am in the middle of various validations ect. and score from 560-575 on the various reports. I have till 1/26/02 to apply. I expect my score to be higher by that time. What limit would I get with sucha bad score now and do they really give $500 platinum cards?
I got that one - don't fall for it, unless you're desperate for a card. It will be a $500 limit. That is their game. The $200 gold card didn't go over very well, LOL, I think they are trying to do the same thing with a $500 platinum. If this is platinum, I'll eat my hat. Pot metal.
I got the same offer. I also spoke to a CSR and she said they cannot make you platinum until you have a $5000 limit because I tried to get my current card changed into platinum. So I called and spoke to Mr. Cooke and he said read the fine print because although it says "guaranteed approval" you still have to pass their criteria. He did upgrade my current card to a Gold status. So, I am going to wait until I see my credit scores increase and I'm a member of the 700 club.
Go for it the plat Cap 1 is very good 9.9 apr they will rasie your limit . My mom got a 7,500 and a another 500 when she made a transfer.
I too receive many offers from Cap1. The one that takes the cake is the 0% for 6 months platinum business card. They approved me for $5000 and it is based solely on my personal fico. Even though it looks and smells like a business card. The kicker is that the regular cap1 card I have has a limit of $1200 and they say I can't get that limit raised until May 2002. A credit analyst at Cap1 explained to me that Cap1 doesn't care how many of their cards you have. Limit increases on existing cards are based mainly on internal info about how you handle that particular account. Any new cards you get from them are based mainly on your fico score.
I think I will wait as well. I'll call Mr. Cooke and see what he says. Maybe he will upgrade me to Gold status. That is what I want as well.
I just read the fine print on this one. Nowhere does it say meeting their criteria. It says $minimum line of $500. Who ever heard of a $500 platinum card?
I got the same thing last week. I've had a card with them for about 15 months now, 1600 limit. I applied on line with the promotion code they sent on the offer, and it said I was approved, limit would be sent to me by mail within 7 to 10 days. If it's a 500 dollar card, I'll call and cancel it immediately. I don't need a 500 dollar platinum card when I've got the citi with 11,500 limit. Main reason applying for this one was to transfer over my balance from my Providian and close out that worthless card. But, if it's a low limit (below 3K) I've got no need for it. Anyone know if Cap 1 will combine cards? I've got their regular card, would like to combine both if possible. danrs
I have a friend that applied last week. Will update the board with his cl. It's great to be back! Vest regards, Mirage
Hermit, I did received same offer two times and they charged $39 annual fee. That's what hold me back and the interst rate is little bit high for the Platinium card. For example: BofA Platinium Visa and M/C is 9.9 fixed, NextCard is 9.9% fixed and even my Kmart Card from Cap1 is 11.9% fixed. They all didn't have any annual fees. Usually the Platinium cards are low interest rates and no annual fees. Ron.
