Dear mr x: Because we value your relationship with us, we are pleased to inform you that you are Confirmed for an additional credit offer-a Capital One Platinum MasterCard with a credit line up to $2000. Respond by June 26, 2003. Here is my question to those that have been through it. Should I wait for my balances to go down on my other cards by waiting until the end of June for a better report? Or does Capital One usually just go by my past record with them? I have a Cap One secured CL $850 + Cap One Kmart CL $500. Cap One secured will have a 0$ balance in 2 to 3 days and the Kmart has a 0$ balance now. #1 Apply now, #2 Apply in 3 days, or #3 apply end of June with a 30 to 40 point better FICO from paying off every balance?
I got the same offer - I will probably wait until the end of June to make the application to be on the safe side - payments posted, CRs updated... Others here have had MANY MANY problems with Cap 1. Maybe I've been lucky, no problems yet. I've got a secured card, need an unsecured card and seems like Cap 1 is my only option at this point.
Cap One has been great to me .. Started with $200 partialy secured with $49 deposit - one year later it was made a gold card with a $1,000 limit, now it has a $2,200 limit. Also have a mastercard with them. Great customer service, been very good to me. I get Purchase checks the in mail from them often which are preprinted for $1,000 and a blank check. 9.9% apr usually....... Never used them before But back to your post - Would this card be worth three hard inquires for you ? If yes than apply.
Just remeber that it is a credit limit "up to" $2000. They could pull three hards on you and give you a limit of $200. Just be prepared.
ON THE "UP-SIDE" THEY DO HAVE MR COOKE ON THE "UP-SIDE" IF IT SAYS "PRE-APPROVED" IT IS ON THE "DOWN-SIDE" COMBINE 2 ACCOUNTS INTO ONE...THAT IS A CREDIT LIMIT INCREASE AND YOU MUST WAIT 6-9 MONTHS FOR A NEW CREDIT LIMIT INCREASE!!! ON THE "DOWN-SIDE" 2 OR 3 "HARDS"...EVEN WITH "PRE-APPROVED"
Re: Re: Capital One Plat. Offer What 2 Do?? Sounds like they were better to you than me...I had to "pay" (secure) $900 to get the $1000 limit...took over 3 years after that before they raised it to $1500 (now $3000). The "checks" they send me are always for current APR, which makes them useless. Seems like there's a double standard going on there which is also something to consider if you really want a card from them.
Re: Re: Capital One Plat. Offer What 2 Do?? Cap One has been great to me also. Cap one Plat. offer is $300-$2000 limit with $29 annual fee. Must be a thanx for me not going bad one year after 2 accounts with them. Cap One is a great credit builder after a BK but I probably wouldn't touch it if I didn't have past credit problems. Sounds like I'm going to get 3 hard ones! Oh well.
Re: Re: Re: Capital One Plat. Offer What 2 Do?? I received the regular APR checks before too, but now I've only been receiving purchase checks with the 9.9% rate. I also got a preselected auto finance thing not too long ago. Double standard, what double standard ? It all depends on your credit, and internal score with them I'd assume. I don't have any negatives at all, never have. Maybe thats why I get the purchase checks, and why my limit grew. (not trying to sound snotty, just saying.) Capitol one was the first company to take a risk on me - I had absoultey NO credit at all. Now 19 months later I have 10 tradelines. Thanks Cap one!
Well it came in the mail today. Opened it up and expected a low limit like $300-$500. Credit line $2000. It was the max offered on that letter. I know the next step is to max it out right away once because of how Cap One reports credit lines. I was going to mail my last check today to pay off my last balance of $1500 from another account. Does anyone know if you can do a balance transfer for a month to get them to report the credit line, and then pay them the next month? Or would you buy something for around $1500-$1900 and then return it later? By the way this is credit card #9 after a B.K(7) 16 months ago. When does the FICO stop growing so fast, I'm betting 720's in July and I was still in the 400's last May.
Funny thing I have a Cap 1 account with perfect payment history for over 6 years, current CL is $3200.00. I have not received a CL increase in 2 years, nor have I ever received any offers of other Cap 1 cards. Maybe it's a blessing. Best regards, Mirage
Funny thing I have a Cap 1 account with perfect payment history for over 6 years, current CL is $3200.00. I have not received a CL increase in 2 years, nor have I ever received any offers of other Cap 1 cards. Maybe it's a blessing. Best regards, Mirage
I don't care if Cap One does not offer me anymore credit cards for 8 years and am O.K with that. $2000 CL for someone in my situation isn't bad. Less than 2 years from my B.K(7) who else besides Providian would do that? If I were prime without a B.K I probably would not touch Cap One. But they are at least B.K friendly.
