Cap1 doesn't take NO for an answer

Discussion in 'Credit Talk' started by Flyingifr, Sep 6, 2003.

  1. Flyingifr

    Flyingifr Well-Known Member

    Here's the text of a letter I got today from Cap1:

    "Dear Flyingifr,

    If the enclosed package looks like something you've seen before, it's because you have! We recently sent you one just like it. Because we value your relationship with us, we're reminding you to take advantage of this offer for an additional card.

    The first step toward enjoying the benefits of an additional credit card is reading the enclosed offer. We think you'll be glad you did."

    The enclosure was an envelope containing a credit card offer that I shredded a month ago.

    Now, other than generating another annual fee, why would they offer me a SECOND account but not give me a credit lineincrease onthe FIRST account instead? The big print says credit lines up to $5000 and the fine print says minimum credit line $300.

    OK, credit gurus, with my FICO scores, where do you think I will end up? My guess is in the wastepaper basket.
  2. DHK

    DHK Well-Known Member

    Got the exact same mailers for my DW. Went ahead and applied because we were "confirmed" for an offer up to $2,000 CL with 0% APR for 6 months (go to rate of 14.9%).

    Just got the card today - $300 CL. Don't think I'll be activating this one anytime soon.

    GEORGE Well-Known Member

    PFB your "$300 is an INSULT" letter...
  4. 8004me

    8004me Well-Known Member

    I get those all the time, look mighty good going thru the shredder.
  5. tinaboo

    tinaboo Well-Known Member

    I the same. If you don't activate the card, how will it affect your FICO score.

    GEORGE Well-Known Member

    Re: Re: Cap1 doesn't take NO for an answer

    ACTIVATE OR have 1, 2 or 3 "HARD" inquires and it WILL REPORT

    It can show up on the credit reports BEFORE they even mail the card...
  7. breeze

    breeze Well-Known Member

    Re: Re: Cap1 doesn't take NO for an answer

    Not activating won't solve your problem, Call and cancel, or it will bill some kind of fee and go into default.
  8. wlonsdale

    wlonsdale Well-Known Member

    I received the same offer and got approved for $2000.
  9. DanS

    DanS Well-Known Member

    I got the same bloody offer and I went to PFB with my complaint, very much along the lines of the original post: the only reason I can see for refusing to raise my CL until my one year anniversary AND sending me repeated offers for another card is to get another fee.

    Can't say for sure, since I got no phone call or written response, but a month later my CL went from $300 to $1200
  10. gli

    gli Active Member

    I first got this offer in an email. This was my first pre-approved offer since my BK, so I tried for it. I got a $500 limit and a see-through red credit card. Since then I've also received two letters from them with the same offer. Are they trying to give me yet another card with a $500 balance? That would make three CapOne $500 cards, and three more hard pulls. The fine print on the written offer says you cannot have applied or been approved for a CapitalOne card within the last 90 days. They do have some pretty pictures on the CapOne cards, but I think I'll stop at two. (I had a $27K limit on my Amex card before my BK, now I'm thrilled to get a $500 limit credit card.)

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