Like I have seen with many posted on this board, I received an offer from Capital One via Gulfstate Credit to take over my debt of $891.00 with Cross Country Bank and issue me a credit card. A little background: I acknowledge the Cross Country Bank debt, but refused to pay them due to the misleading practices, Pi** poor customer service, their payment posting practices etc. I accepted this offer as I was well within the credit reporting period and received my Cap One Card a few weeks ago. No available credit of course as the limit was set at $400.00, the remaining $491.00 put into a special status so no overlimit fees accrued. I decided, just for fun to call Capital One to see if my limit could be increased. After explaining the situation to the rep on the phone, I was placed on hold for a short time, she came back and advised me my limit would be increased to 1200.00 at 9.9%. I can't say enough good about Capital One, although I know the experiences posted here have varied, I found that they are giving me a chance to liquidate a debt I felt badly about not paying and offer me additional credit very refreshing.
I may have to give them a call towards the end of the year and try again for an increase. I was told that my type of card (same as yours) is not eligible for increase. I'll wait till November, when the all my debt is paid in full. That's good news.
Hal, A 9.9% apr from Cap One is unbelievable!!!!!!!! Wow! I'm at 12.9% and when I call in for a decrease, the reps are like "how in the world did you get to 12.9% in the first place?.". Mr. Miller told me that the 9.9% rate is by far the lowest Cap One offers - and only for people with absolutely stellar credit. Good job, and good job on paying back the debt.
9.9% is not the lowest CAP1 has. Mine is 2.9%, has been for about 6 months now. I have a low limit ($600), but the APR is 2.9%. As I wrote yesterday, they lowered it from 9.9%, after 6 mos. of on-time payments.
Impossible. You don't get a fixed 2.9% rate from Capital One (or from any other lender). If they did that, they'd be out of business. Now promotional rates are another story: I think the best I've even seen was 0% for 9 months, but even then they'd probably charge a hefty BT fee if you use it to pay other cards off. Saar
rotflol! That would put it in the company of Aspire and CCB, no doubt. Seriously, I haven't seen a Cap One account above 25% apr. I can't believe Cap One is reaffirming unsecured debts with 9.9% apr. They really want folks' business.
-------------------------------------- They really want folks' business. ----------------------------------------- THEY DON'T WANT MINE!!!!! EVEN DENIED WITH F.I.C.O. 685-698 DENIED WITH "ACCEPTANCE # STICKER" AND "APPROVAL NUMBER STICKER" !!!!!!
