Well, after we closed on our house, I decided to give Capital One a chance. I received a Platinum MasterCard pre-approval in the mail, but I didn't activate the card until the day after closing. Lo and behold, only a $325.00 limit. WTH? Anyway, while we were waiting on closing I got a bill from Cap One for $30.00 before I even activated the card. I blew it off, since I didn't accept the card. When I opened it, they credited me with the $30.00 past due fee credit. I'm thinking, cool. But yesterday, I tried to use my card to pay for gas and it was denied. I had $200.00 of available credit, so why was it denied? I called up customer service and they said until I make my first payment, the card was suspended. Despite the fact that they waived the past due charges since I didn't activate the card until two days after they charged me for it. Anyway, they reactivated the card for me, but I am seriously thinking about PFB'ing them in hopes of a higher limit. Any thoughts? Also, as part of my closing, I settled with Mr. Cooke for only $300.00 on a $954.00 balance. The Visa I had with them was only a $500.00 limit.
CapOne is a great card for those folks who have had previous credit problems. But what I don't like is they send someone who has good credit a pre- approval offer for $500 to $7500. Now someone who has ALL 3 CRA scores in the 700's would most likely assume they'd recieve a limit closer to the upper end of that span......WELL low and behold what I actually got were 3 hard inquiries and a $500 limit.
How in the world did ypu get him to settle for that? I had a $800 limit, and with late fees it was up to 1700, and I offered the $800 limit of the card, cash, and he wouldn't take it, the least he would take was $1000. You must have caught him on a very good day.
If you are talking about settling a charged off Capitol One Debt, I settled for $1,000 on a $3,800 balance. I called them to make a settlement and told them that I could settle for $1,000. The person that I talked to laughed at me and told me that they never ever settle a debt for so little of an amount. I told her that that was fine. I had this $1,000 to use to pay off this debt or to pay an attorney for bankruptcy. This person said that I should just file bankruptcy then. I said ok I will do that, and by the way, it seems so odd that you will not settle with me. I thought that ya'll were in business to make money and to minimize loss. Guess I was wrong. She spurted off some horrible remarks about my person and hung up on me. I decided to play the waiting game and guess what? I came home from work 3 weeks later to find a message on my answering machine saying that they had some really good news for me and to please give them a call as soon as I possibly could. I called them back and the woman told me that they had indeed decided to take my $1,000 settlement. She acted like they were doing me suuuch a favor. This just wasn't the sort of thing that Capitol One ever did. Well they did.
