Marie, I admire your problem-solving skills and I think you've done a terrific job rebuilding your credit, especially where CapOne and Providian are concerned. Therefore, I'd love to get your thoughts on getting a CapOne Platinum card. My two CapOne golds are the only sub prime cards I have left. My first CapOne started out as a classic card and the account was opened in 1996. Even though it took a while, this card was upgraded to gold last February. The credit limit is $3000. My other CapOne gold account was opened last October so it's still pretty new. Believe it or not, my credit limit started out at $500; three months later, advanced to $3000 and I'm now at $4000. (The recent $1000 increase was compliments of Mr. Miller. As you can see, in total, CapOne has granted me $7000 in credit. My goal is to combine these accounts and get a Platinum card. Any thoughts on the likelihood of success? How long should I wait prior to calling? Maybe another three months? Since I just received another big increase...a thousand bucks is pretty generous for CapOne...I'm thinking I should allow a little time to pass before asking. My credit is in reasonable shape - No negatives on Equifax, one two-year-old 90-day late on Transunion and three derogs on Experian, including a two-year-old paid charge off. The last date of activity is wrong on the paid charge off. It should really show as three years old. Following my first dispute, Experian changed the item to look even worse. But when to combine my CapOne accounts (hopefully, into a platinum upgrade) is my question for you. If you can take a moment to share any thoughts you might have, I'd sure appreciate it. Thanks. Donna
Wow, you've gotten some very impressive increases from Cap1 Getting Platinum, according to Mr. Miller, is simply a credit line issue. Once you have 5K, you can have the upgrade. From what I gathered, even the regular reps can do it for you. Now, you may get comflicting info...here's the info I got from the Exec office. 1. The accounts have to both be a minimum of 6 mos old to combine. 2. You may choose which terms you want to keep. Eg: you may keep your better terms of the 2 cards. 3. The account number will change (platinum numbers are different) but you will keep the history of the account you upgrades Eg: if you combine into your 1996 account, the number will change but you'll keep all your good history. Cap1 may look at a credit report only to make sure no new derogs have appeared if you're getting a line increase, but I doubt they'd bother doing that if you're just combining cards. Frankly, you've done so well with both the cards, that you may wish to just keep them both open and work the lines up. Or, did you get an increase on the older account? If not, if I were you, I'd call Mr. Miller and simply request that the older line get increased to Platinum (NOT by combining). Since it's much older and your newer line is so high, it makes sense that you'd get approved Honestly, in a year you could have 2 Platinum cards at the rate you're going. Also, I got my annual fees waived on all my cards so it didn't cost me a thing to keep the cards (and I got the interest rates reduced). Mr. Miller seems the way to go for any larger requests. But if you just want to combine the accounts I think a regular rep could do it for you. Try for better terms regardless of the route you take Good luck!
Thanks, Marie Thanks, Marie, for your nice post. I knew I could count on you for some good advice and I wasn't disappointed. Hmmm....guess I'm ggetting greedy...but I like your idea of eventually having to CapOne platinum cards. Since I did recently get an increase on both accounts, I'll have to wait to request the upgrade on my oldest one, though. But that's okay. I don't mind the wait. Another six months will roll around before I can hardly blink. Offhand, I can't remember what the APR is on your cards, but I suspect it's better than mine. My 96 account is at 13.9 and I can live with that. However, on my newer card, despite my best efforts, I couldn't talk Mr. Miller into going lower than 15.9. But he did suggest that, if I waited a few more months, it could probably be lowered. Like you, I did get rid of the annual fees on both cards and I'm happy about that. Again, thanks for your response. You've given me some good direction and I appreciate it. Donna
Re: Thanks, Marie Did you just see the post that Mr. Miller is leaving? If he didn't raise the 1996 one, call now. Heck, even if he did, call anyway and just politely ask if he could make it a Platinum. Worst he says is no. I'm a firm believer in getting rejected tons until I finally get my way. Since he's leaving he just might do it for you as a farewell gesture.
Re: No, I hadn't Heard No, I hadn't heard that Mr. Miller is leaving. That's unfortunate because he was a great consumer ally. Really, He's such a nice man. I hope the job he's leaving for is better than the one he has now. But I am going to give him a call. There's certainly no harm in giving that APR reduction another shot. Donna
Unbelievable success you have had with Capital One. Keep up the great work in wherever your next move is with them. I just got off the phone after reading your success. Girl said I had the best interest rate at 14.4%, and since I received 300 automated line crease just a couple of weeks ago, she transferred me to another girl, who also said interest rate was the best she could do. But she then said, she could raise the credit line by 700. I took it, bringing me to 3.5k. I didn't threaten to close the account, just asking.
Marie, Nice work! Congrats on the $700 increase. Most of the limit increases I've gotten from CapOne were spaced out. Even though they haven't come fast, the ones I have gotten have been pretty generous. Gold cards definitely seem to fare better than classics. It took *forever* for me to get anywhere when my oldest acount was still classic. I feel pretty sure that I'll be able to go platinum with CapOne but I'm just deciding when to make my move. Since my increases were pretty recent...back in April...perhaps I'll wait a bit. When I spoke with Mr. Miller, he cautioned me not to expect any additional increases for a while. But I'm definitely going to call him to see if I can get the interest rate on my newest account lowered. If he says no, so be it. It won't hurt to ask. Your APR is good but, over the coming weeks, I bet you'll get it lowered, too. You've also done exceptionally well with CapOne. Keep me posted. Donna
