One of my clients very new to credit got approved for the Capital One secured card. If you can beleive this the initial application was given 4 months ago, deposit was sent 3 months ago, and his card only now went out into the mail last week! A warning to anyone who's looking for decient service with the Cap One programme!
For me the whole process only took 10 days... I've dealt w/them for 14 months and experienced great customer service, so have other people on this message board... I guess your client experience is 1 in a million.
I got a Capital One secured card with a $1,000 credit limit when I was declaring Chapter 7 Bankruptcy. It cost me a $99 deposit and $29 a year. 21 months later the card is now "gold" with a $3,000 limit. The $99 deposit was refunded with interest after 12 months. Capital One has helped me to restore my credit. Just make sure you pay on time. If you are even one day late you get charged a $29 late fee. Overall Capital One is great for credit rebuilding.
Took me 21 business days after mailing the check to them to get plastic. i was impressed. still am impressed. their website is great. now that it works all the time
O.K. Great I'm glad all of you guys had great service. I'm gonna sugest to my client to mention your experiances compared to his and see if we can use it as leverage towards a higher credit limit!
I would sure love to know your secret in getting Capital One to increase credit limits like that esp. after a BK. I was in subprime hell with them forever, never got my six year old account unsecured and received no increases over the past two years and I never had a bankruptcy. My credit has been very good for a long time. I have six years of not missing a payment on a total of 9 accounts (some closed) and have high credit limits with prime lenders. I know that I'm not the only one who has a problem with Capital One's perplexing credit policies. I think their phone reps. are quite good but I also think that there is a lack of consistency in the way they make decisions.
Hi Dave, Have you ever asked for a limit increase? I asked for one a year later and was given $150, they also said I could have asked for one 4 months earlier and would have been approved. Cap1 wouldn't unsecure the card though, but I opened another account with them and it is unsecured. I plan to keep the first card so it can show creditors a long credit history. Remember the squeeky wheel gets all the oil ! Ask, ask, ask,... and you shall receive.
Same happened to a friend of mine, this spring. However, when I applied for it (a year ago) it only took about 6 weeks (initial phone call to getting the plastic).
