Never had one of their cards - and i've read they're notorious for giving low credit lines - however things may be changing at Cap one these days. Just found out I was approved for the Cap One Miles Biz card for 20K - the max they give for that card. 2.9 till December 2004, 9.9 ongoing after that. Scores were in the 740 area on all cras - with gobs of inquiries on Experian. Oh yeah - they do check ALL THREE cras!!! I would usually never apply for a card that dings all three - but a telemarketer called our office - and he was just so sweet, with a really cute Southern accent - very "Sweet Home Alabama" - and i broke down. now i'm glad I did
Congratulations--that's a great credit line. I think they run the biz cards differently, that's probably why the higher limit. And I believe that Cap One actually has a tier structure. You can get subprime, or you can get prime. But they won't move from one to the other--you have to reapply. And $20K is probably worth 3 inquiries.
yeah, well, i guess I've gotten biz cards from others who only check one - but i'm not complaining. I'm still FIRM - however - in my decision not to apply for MBNA - yeah - they only check 2 cras - BUT - until the round up GEORGE's card to 32K - I'm not budging
MBNA is at the top of my "don't do business with" list. Any terms you get are only good for today. Tomorrow they may change. Why?? Because they feel like it!
Re: Re: Cap One Approved 20k yup - i've heard the horror stories Hed. I'm a little nervous because my beloved Atlantic Coast Federal Visa was bought out by MBNA - so now i'm going to be part of their operation - starting next month - by default. Supposedly - no change in terms - according to their letter - it's 9% fixed on everything - purchases, cash advances and bts - with no trans fees - but - they could change those terms in a jiffy. So i'm gonna watch em like a hawk.
Re: Re: Cap One Approved 20k I had some problems with them a long time ago, but most of my knowledge of their actions came from some friends I was helping who got rates jacked, limits reduced, etc. because they used the card too much (and got the balance more than about 50% of the limit). Then I got in the same situation as you. I had a credit card with First Virginia Bank and they sold their portfolio to MBNA. The first couple of months were fine. Then boom--a late payment. I knew I mailed it early enough. After a fight they removed it. But that was is. I paid them off and canceled the card faster than you could turn around.
