Capitol One

Discussion in 'Credit Talk' started by Shantel, Jul 18, 2001.

  1. Shantel

    Shantel Well-Known Member

    I applied for another CapOne card because I wanted one with a higher limit than the one I have now (which at $600, is my lowest limit).

    The card came today....Gold with a whopping $200 limit. Now about 3 weeks ago, I got an offer to upgrade my MC to Gold Status and I'd receive a $1000 CL increase for $39. I said I'd pass. I didn't want to pay for an increase.

    So I called them. First to cancel this silly little Gold card and to negotiate my CL increase WITHOUT the fee.

    The CSR tells me that the fee goes toward embossing and processing - since I'll be receiving a whole new card, etc. So she pulls up the offer and I said, "Fine, give me the automated number, I'll do it". I'm thinking...then I'll call back and try to get a credit for the $39. She asks if there's anything else and I tell her I got this new card I want to cancel. She transfers me to an Account Service person. I tell her "I want to close this account". She offers me an immediate $300 CL increase. I said, "No". She said, "Is there something wrong with the terms that you aren't happy with?" I said, "This credit line is low - the lowest I have and even with $500, it's still too low". So she goes on to tell me all the wonderful things I can do (i.e. I'll have 0% APR until Sept 1 and can negotiate a lower APR after that; they'll review my account regularly, etc, etc). The 0% APR was tempting but still, $500? So I said, "No thanks". She said, "Do you have another account with us?" I said, "Yes". She says, "I can give you a $700 CL increase today at no cost. And with your $1000 CL increase for the upgrade, that will put your limit at $2300". I'm like, WOW!

    In 2 minutes, Capitol One went from my lowest limit to my 3rd highest and I have a grace period! $2300 CL - Gold THAT'S what a Gold card is supposed to be!

    Next stop...Providian!
  2. Cadillac408

    Cadillac408 Well-Known Member

    Wow! That's what I call results! Good job! Makes me wanna call them and tell them what they can do with their petty $200 *Silver* card! What a joke..
  3. heather

    heather Well-Known Member

    I am so jealous, congratulations. I received a $300 line increase today, it has taken me a year to get from $300-900. I have a charge off from 98 with them that will soon report as a good account. I cannot wait, they told me that once this worked out that things would really improve with them. Congrats again.
  4. Shantel

    Shantel Well-Known Member

    Hey Heather, don't be jealous. Your time is coming and I'll be the first one to toot your horn when you post your good news!

    But you know...CapOne is SURE stingy with increases so it's definately an accomplishment when you get one!
  5. heather

    heather Well-Known Member

    Shantel, I chose the credit line increase instead of having the card unsecured and my $99 returned, was that stupid? I do not need the $99 and I heard it takes up to 60 days for it be sent back anyway. He told me today he could not unsecure it and give me a cl increase so I took the increase.
  6. Shantel

    Shantel Well-Known Member

    I don't know...mine was never secured. Does it report as secured on your CR?

    I'd say the increase was probably the best thing but in a few months, call and ask for your deposit to be refunded. It IS possible to have both :D

    GHONEYHONE Well-Known Member

    i received my capt one card in feb for the 99.00 for 200.00 when should i expect an increase its at the limit now and i always pay on time
  8. heather

    heather Well-Known Member

    ghoneyone, I called and asked for one at 30 days and received it, same deal as you, $200 cl and $99 deposit. If you have had had any over the limitis you must wait 6 months before you can request a cl increase, same goes with a late payment. If I could change what I did, I would. They will most likely only give you $100 if you request a cl increase in under 6 months. Make big payments, and then at 6 months, or longer, go for the big increase. I have just dealt with them for a year, but Mr Miller gave me all this information so I believe it.
  9. NanaC

    NanaC Well-Known Member

    Here's what I did...I got my card in Dec (200). I got an Aria in April and they gave me $500 but I wanted to use Cap One more. So, I called online and asked for the increase..(automated line)..It said I was eligible for 600 but it only gave me $100 so I went to 300. I then wrote to Planetfeedback and said I'd like their card to be the one I primarily use but I would like it to at least match my Aria. I was granted the increase to 600....actually giving me a bit extra.

    So, you might try that route. Even if they turn you down on automated, then go to Planet feedback and complain.

    Note: After they were so responsive, I immediately wrote a compliment as well.

    Good luck, keep us posted!
  10. Nave

    Nave Well-Known Member

    Thank you! You have given me ideas to get where I want to be. I have cleaned my reports, but still have my CapOne card with it's measly little limit. I will use your tactic to apply and nudge my way into a higher limit. Thanks for this post.

  11. Shantel

    Shantel Well-Known Member


    My pleasure. My only reason for applying for an additional CapOne was to get an additional CL and combine the two accounts. That was it. I didn't even conceive that I'd only get a $200 CL. I was like WTF? The moment I saw it, I said, "Oh...screw you CapOne, I don't want this trash". I mean, I just got Discover Plat with a 5k limit and you're only giving me 200?

    The Account Rep tried to make it seem like closing the account was going to hurt me. She said, "You should at least keep it 6 months". I laughed. HA, It doesn't even COUNT in my FICO until 12 months! So cancelling wasn't going to hurt me. The damage from them has already been done with the inquiry.

    Anyhow...Go for it. There's more than one way to skin a rat (I say rat because I'm a cat person and the thought of skinning my two "girls" is atrocious) ;D

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