Hi all, I was wondering if anyone got this card after sending in one of those invitation to apply forms. I got one of those forms a while ago and didn't send it in. I didn't want to risk getting the $500 card if denied for the Platinum. That would be a real waste of an inquiry. Invitation terms: No annual fee 14.9% fixed rate No BT fees
Recieved something similar. I called and they said it was guaranteed with a minimum $500 limit. A platinum with a $500 limit. I may apply towards the end of the month.
In a month, I will have a $500 Gold card. Maybe they'll let me upgrade to Platinum??? HHHhmmmmmmmm (in honor of chelechele wherever she has been lately)
How did I forget that one? As I'm trying to find someplace now to do mine online. I'm anticipating my refund already...hehe.
Hey, dont' feel bad..I got denied for First Bank of Marin, Premier Card, all those high dollar fee cards!! FCNB is "my" only open CC acct right now. The others I am just AU on mom's accounts. I only let her put me on the ones with high limits/low balances for the ratio thing.
I received my Platinum today. I got a $2000 limit. The terms suck...$39.00 annual fee and 14.9% APR, but it beats the $200 Gold card I got from them over a year ago (now at $1200). I am thinking about combining the Gold with the Platinum and closing the Gold. I had a 687 CE score when I applied. Good Luck.
A friend of my got one of those offers in the mail and completed the offer online. He got a 5k cl. Little background, no bk but quite a few lates. He does have a regular Cap 1 card with a 2.5k limit since 1997. Was recently turn down for a AA Citibank last summer. Best regards, Mirage
steve, They sent me two invitation for the Capital One Platinium. The terms that I get is not so good deal. The rate is 14.9 fixed with annual fee $39.00. It looks like subprimecard to me. They can give as little as $1000 for the card. No thanks. I have enough Platinium Cards already. Ron.
Subprime? Hmm, I guess you have never had a subprime card. It may not be a Citi Platinum, Chase, or Amex, but I wouldn't call it subprime. It isn't bad as far as Capital One goes. You can usually get the annual fee waived, and 14.9% isn't that bad to start with for sub 700 scores. Subprime is more like $69 annual fees that you can't get waived and 18+ APRs. Oh well.
Cap1 is NOT subprime! I have better terms with my Cap1 cards than my friends do with their "prime only" issuers. I agree their initial offerings are a bit odd given some of the good credit histories here, but there's enough information available on this board alone to help anyone progress nicely with them. For example: If you get a card with poorer terms than you really wanted, call to cancel. Retention will likely help you out. Prioritize what you want first. Annual fee refunded? LOC increased? Interest rate reduced? Then use it a bit and call again. Use planetfeedback and talk with the exec dept. They're really helpful and fair. It's always up to us to better our terms. After all, I have a bk only 3 years ago and the 3 cards I use most are my 9.9 interest rate Cap1s. They have an internal score, so if you're good with them you'll get GREAT terms, better than with Citi if you have blotched credit. BUT you have to ask for better things with them, not just wish they'd show up. Be prepared for a few "no's". I got probably a 1/4 yes... but that got me from a 300 intro card, 39 annual fee, 20 something %... to Plat 5k, 7k, 9.9 no hassle. You don't get what you deserve, you get what you negotiate.
Marie, How did you get the "no hassle" terms? I thought the lowest you had gotten down to was 15.9% on the cash advances. Have you had more success? Do tell... So true...
Good analysis of Cap One, Marie. I will wait 6 months and PFB Executive Offices to waive the annual fee and try for better terms.
Mike, call and say you want to cancel... they'll transfer you to retention now and see what they can do for you. If your credit profile is ok, you should be able to get something. Interest rate reductions are the easiest thing to get with Cap1. Even regular supervisor can reduce them. I'd go for the refund now. After a while they don't want to give it back Worst case scenario is you are still where you are now. Their wait time today is heinous. I left it on speakerphone for 30 minutes and never got through... Then in 3-6 months of good use (use it heavily, pay large payments) I'd planetfeedback it.
