I took the Cap One Platinum!

Good luck Dog,I got the same offer last month,found out my cl was 500,cancelled the card before it even arrived in the mail.What a joke.

 

Hope you get a high limit dogman. I am going to stay away from Cap One until they send me a no hassle card offer because I've heard that they bombard you with telemarketing calls once you become a cardmember. Is this really true ?

 

I was offered a 1000 CL increase on my Cap 1 card, and then days later got an offer for a new Platinum. People on the board here assured me that a CL increase did not count as an application, so I applied and the Platinum came back with a 5,000 limit!! I've had no annoying calls, so I'd have to echo dogman that if you treat them well, they treat you well. I wish you all the same luck!

 

Hi Dogman! Congrats on the Cap1 Plat MC I really like their Platinum products and they're the only nonAmex cards I use anymore. Are they still doing the 0% intro rate??? that was a nice 6 month deal they offered... ask about that too while you're at it

When you get your offer back, regardless of the offer, do a planetfeedback letter stating you thought you'd get better due to your excellent credit history with them.

then when you talk with them, do line increase first, then terms. If you really expected several thousand more on the credit line, then ask for that. They seem to be able to do 1k easily, and more with approval... so be aware 1k isn't the limit

Once you've discussed credit line, discuss the "no hassle" mc variety. I know what your invitation offered, but getting better terms is even easier than a line increase with them... ask for the 8.9 fixed across all buckets, 0 annual fee... A true Platinum card (by the way, that's what I have so I know it's possible). If you have a balance transfer you could do, they love those and they seem to like approving higher credit increases to correspond with balance transfers (or future large planned purchases).

You will want them to note the account for the no telemarketing as I'm sure you've done with your other account...

then, while you have them on the line... go ahead and discuss your gold card. Ask what can be done all in that same order... you can decide if you'd rather have a Plat visa to go with your mc... or you can (after they increase both credit lines) combine one into the other at the 6 mos mark... I prefer carrying both a Platinum visa and a Platinum mc... but it's your choice. A Platinum upgrade used to be only an issue of a credit line 5k or more.. since they're now offering toy Platinum cards... who knows. If the gold must be 5k or over to upgrade, then ask for that.... plus 8.9 fixed across all buckets and no annual fee.

(they have 3 buckets for Platinum: purchases, special purchases, and cash advances). Cap1 is one of the few companies that will still offer the same purchases rate as cash advance... and 8.9 fixed is one of the best out there so lock it in while it's still available...

Go ahead and go straight to the Exec dept this round... You've earned 2 Platinum cards with them at this point so if you want both the mc and visa, ask for them... they're very generous when you have a good internal record with them.

on your 6 mos mark, you can use the automated system for an increase, then a supervisor, then just call the executive department.

Cap1 has been extremely fair with me because they use an internal score then look at your bureaus later to make sure you're really still ok... but the internal score absolutely drives their increases.

I noticed when I used them for balance transfers (they love those) and then made 500-1k payments per month, getting Platinum was a 6 month to 1 year progression. With one card I upgraded to Plat and skipped Gold completely. I have 3 Platinum cards with them now, so there's nothing more to negotiate except future credit line increases So I know it's possible and I also remember you're futher from your bk than I am so it should be a snap for you.

Congrats again You're working on your Cap1 accounts as I work on my Amex accounts...

 

Dogman,

Congrats on the Cap One Plat MC offer. I received the same one several times over the last two months, but haven't sent it in. I opted to apply at my local CU. Low and behold, they approved me for a $5K Platinum Visa, 11.90 APR (Purchases/Cash) and 6.9 APR until pd in full on BT's (if done at acct opening). I couldn't believe that it actually happened!!!

As I think you're aware, my situation is very similar to yours. I, too have a Chap 13 on file from 11/96. I paid on it for 5 years and it was discharged on 11/01, due to fall off in 18 months (along with all the included accts which each fall off at varying times prior to 11/03.

I hope you have good luck with the Cap One card and do let us know how it goes with them! I also have had the Amex Green since 1995. They did upgrade me to Gold automatically 3 years after my Chap 13 filing in 1999, so it can be done, even with the 13 on file. They have done AR's over the years that it has been on file so they are aware of the filing. I never called and asked for it though.

On a side note, how did you make out with those Sherman Acq idiots? I disputed all the entries as being illegal to collect a discharged BK acct/reaging, etc. So far, no verification and the 30 days is up in 8 more days, so I hope they get deleted. Otherwise, I'll have to deal with them directly. I still have never received anything from them or been contacted by them in any way.

At any rate, thanks for sharing and I'm sure you're psyched about 2003 and NO NEGATIVES!!! I know I can't wait! Sounds like we both have done very well despite the 13's!

-NiceGuy

 

CONGRATS Dog,

Somebody else here said what to do if the limit is less than you expect so I have nothing to add about limits. I hope to combine 2 Cap 1 cards into Platinum this year. I was peeved though when I got my 2nd card and found that Cap 1 had put an inquiry on all 3 of my reports. If I had it to do all over again I would still do the same thing. I really wanted that 2nd card.

 

I got the offer with the same terms for a Platinum VISA. I got the full $7,500 credit limit! I also got Mr. Cooke to waive the $39 membership for the first year. Next year I can ask for a permanent removal of the membership fee.

Tim

EXP: 646
TU: 709
EQ: 648

 

...and then there is GEORGE...
GUARANTEED CAPITAL ONE "GOLD" $325-$3,250 @ $72.00/year...

 

I just got the same offer. It is on a CapitalOne Express Mail format. It says:

"You have built a good relationship with us..."

But the Platinum card they offer is 14.9% fixed and $39/year. I get that for $36 a year with my Capital One Classic card. And all my other cards (Citibank) are lower APR (except for FNANB) and NO yearly fees.

I just sent it to the shredder.

I plan to PFB Cap1 since I have now over 1 year with 12.9% and $1800 limit for $36/year, and I am going to tell them I am ready to get better rates than that or dump them.

Even though Cap One has been good to me, it makes no sense to spend more money for a higher APR.

Dog, let us know your limit and if you can get the yearly fee removed. I am interested to see how they "VALUE" their customers.

Arrrrrrf.

-Peace, Dave

 

Marie,please inform the unenlightened posters like myself,what the hell is a BUCKET?

 

Ok... a bucket is an inside Capital One term. Think of your account segments as buckets money falls into... (and there's a hole in the bucket dear Liza dear Liza... there's a hole in the bucket and it drains out interest...)

Bucket 1: purchases
Bucket 2: cash advances

and they offer you a special purchases bucket sometimes (as in the Christmas promotion they did last year) and in the Platinum accounts they tried to put my balance transfer into the special purchases bucket once (at 19 percent) until I mentioned that nobody would go from 12 percent to 19 intentionally... then they moved the bt to my purchases bucket and removed the interest...

Bucket 3: special purchases

Each bucket will normally have different interest rates to begin with. I noticed when I couldn't get purchases down in rate, they'd drop cash advances. But, when they reduced purchases again, my cash advances mysteriously went back to 19.9 percent... so that's the only thing I'd say to watch them about...

If you use the term bucket... they may laugh or comment how knowledgable you are because it's an employee term. I have a friend who works in their Richmond office so I have a bit of inside information sometimes Plus, their reps will be very nice and answer most questions honestly.

so bucket=segment, separate portion of your account...

Used in a sentence (my Mom's an English teacher):

"Hi, I'd like to get the fixed 8.9 percent interest rate across all 3 buckets"

or

"If I balance transfer 1k to my Capital One credit card, how much can you raise my limit and into which bucket will the balance transfer fall into?... into the purchases bucket... ok, how much can you lower my interest rate in that bucket?"

 

Then fix it dear Henry, dear Henry, dear Henry then fix it dear Henry, dear Henry, FIX IT.

-Peace, Dave

 

I recieved the same offer after they rejected my request for an increase on my classic card.

I applied and the next day was approved for $500.00
6 mo 0.00%.

I wasn't happy about the amount but I cant really argue given my credit.

So I now have 2 of their platinum products at $500.00 each and a classic.
(btw, the new card glows in the dark).

Not sure if I'll keep it. There is a number to check the status of your application. They will tell you what you recieved.

 

Dogman,

Did you get a chance to read my piece above? How is it going with Sherman Acq???

-NiceGuy