Capital One - Gulfstate Credit

Discussion in 'Credit Talk' started by Hal, Jul 13, 2001.

  1. Hal

    Hal Well-Known Member

    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.
  2. kim

    kim Well-Known Member

    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.
  3. breeze

    breeze Well-Known Member

    Wow! I can't get the 9.9% from them!! And I am not delinquent on anything! Great work!

  4. marci

    marci Well-Known Member


    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.
  5. kim

    kim Well-Known Member

    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.
  6. breeze

    breeze Well-Known Member

    That is a low APR!! But the $600? that's not a lot of credit.

    Wierd combination, seems to me.

  7. marci

    marci Well-Known Member

  8. breeze

    breeze Well-Known Member

    Hahaha you're a little more blunt than I am ;)

    Your explanation sounds reasonable.

  9. Saar

    Saar Banned

    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.

  10. cable666

    cable666 Well-Known Member

    2.9 percent per MONTH!
  11. marci

    marci Well-Known Member

    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.
  12. GEORGE

    GEORGE Well-Known Member

    They really want folks' business.

    EVEN DENIED WITH F.I.C.O. 685-698

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