CapitalOne "Confirmed" Offer

Hey,

I can't tell you if to apply or not, but I am wondering about what type of credit limit you would get.

Capital One is tightening up on limits and on credit limit increases.

If you accept the card, and have it for awhile, I know you can call and get the annual fee removed.

 

Why not call them and ask? If they say it will not result in a hard, and it does, you can make them take it off.

 

They have always given out the $200 CL's like lollipops. The problem is, IMO, they are extremely slow to raise your limit, and they will not report the limit at all, ever.

Some people swear by them, I still don't like them. You can't trust anything their reps tell you. They will say anything to get you to take/keep the card.

They don't play the other games, though, like lowering your limit, jacking your rates, etc.

 

My wife got this exact same offer, except with a $49 security deposit and a $49 annual fee. She applied for the card and they sent her a measly $200.00 CL - and they call that Platinum?

We immediately called Retention and they raised it to $700. We plan to cancel the card after one year anniversary to avoid annual fee if they won't cancel it.

 

They will pull credit and probably give you the offer.

I recieved one in January and was given $500.00

Limit and it is now at $1000 after 6 months.

Not much but not bad either given my situation.

 

My mother got one of these confirmed offers and the letter said the limit would be $100....what a joke

 

Ya know....a lot of people here bash Providian but in my opinion, I find Cap1 to be much more deceitful. When I applied for Providian 3 years ago, they told me how much it would cost and exactly how much my credit line would be. I started at $300 and I'm now at $6,900. With the notable exception of the interest rate bump to 29.99 (which I got lowered to 16.9), they have always been straightforward with me.

Compare that with Cap1 that I got just 6 months after Providian. I sat at $200 for one year and then they sent me an offer for another card. I called trying to get the limit raised on my original card and they said no. I then accepted the new offer (and they wouldn't tell me my credit line until I accepted). When I called to cancel my original card, they were all of a sudden willing to bump my CL to $1,200. I told them to drop dead. So now we're at anniversary number one for my new card (original CL was $2,000). They bumped me up a wopping $700.

I should add that about 6 months ago I got another offer from Cap 1 for their Platinum. Same game. They offered me $500. Let's not forget one other little fact....Cap1 doesn't report your CL which I find sneaky.

So, you can say what you want about Providian but when they screwed me (at the start), it was with the lights on. Cap1 does it to you slowly, over time, in the dark.

P. S. I've been with Cap1 for 2.5 years and they still have no idea how much money I make. Wouldn't that be a factor in any credit decision?

 

AMEN

 

I echo everything said here. I have had a Providian account started at $500 and eventually bumped to $3000 within 18 months. I've had a Cap1 Gold with a $500 limit and a Platinum at $300 for a year. I called to get limit increases twice and was denied. Tried PFB and still haven't heard back. The only thing Cap1 is better at is the rate 14.9% vs. 29.9% But I'm going to call Providian and get that lowered.

 

Good for you.