I got it waived last year but they wouldn't do it permanently. Regardless, I'm dumping them in August when my annual fee arrives. Strangers send me better offers then a company I've done business with for 3 years. Actually, think about that for a minute. I've had two cards and an auto loan from Cap1. All paid on time, not even close to being late, never over the limit, no new derogs on the report. In fact, some baddies have fallen off. One minor item from 1997 remains. They've seen my payment and spending habits and they treat me like, well, crap. Other companies who have never done business with me are offering me lower interest rates, MUCH higher CL's and lots of teaser rates. In 6 months with Citi, I've received $2,500 in CL increases. My total limit with Cap1 is a lousy $2,900 which they don't report anyway. Dump 'em, dump 'em, dump 'em. And yes, the more I think about it, the madder I get
Re: Re: OMG Cap1 gives a CLI! Anal fee??? thats a new one. Seriously, trying to get a credit line increase, rate reduction, or annual fee waiver is like pulling teeth with Cap1. you have to threaten to close your acct to get anything...
Re: Re: OMG Cap1 gives a CLI! yup, anal fee. Cause they rip you a new one each year for the privilage of having one of their cards...
Re: Re: OMG Cap1 gives a CLI! Yeah, they are sending me letters telling me how much they value my business, I have built a good relationship with them blah blah blah, and offered me a Platinum card of up to $2,000. Yeah right! Like the rest of you, I know what they do. No way I want to deal with them over another card. My gold card was at $3,200 and they gave me my 6 month increase - it was for $200!!! And not reporting the CL??? What a way to treat a customer they say they value. I know I can PFB them and wait for them to call and then beg, but that really ticks me off - I should go to all that trouble??? Well, AmEx and Citi value me enough to report my limits, and give me good increases, and 0% offers. Definitely no more Cap One cards for me!!!
Hey, does FICO go by percentage of credit used or by amount of credit $$ available. .ie. is it better to have a large credit limit available???
whens a good time to call to try to get an automated increase without having to talk to a csr ?? cherek
Re: Re: OMG Cap1 gives a CLI! There's a different number that you can call to hit them up for an automated CLI (don't have it handy right now). Not sure if it works for everyone but it gives a decision right off once you enter your card # and last four of your SS # (and a choice whether or not you want it).
Re: Re: OMG Cap1 gives a CLI! For help with your Cap One acct, call the Office of the Consumer Advocate - Executive Office to ask for: CLI, waive annual fee, lower APR, etc. Better service, better results... 1-800-955-1455 MisterX
Re: Re: OMG Cap1 gives a CLI! That other number I alluded to is 1-800-448-2318. Should ask for your card # and the last four digits of your SS #, then tell you whether or not you're qualified for a CLI.
Re: Re: OMG Cap1 gives a CLI! We have been Capital One Customers for five years and have a great payment history with them. We applied for the crap 1 "Platinum" and were approved. When we received the card the limit was $300 WHAT A JOKE!!! Our other card has a $3000 credit limit with them. We called and canceled the card immediatley. The retention department is now "reviewing" our other account for a line increase and interest reduction. I can't wait to see what happens.
Re: Re: Re: OMG Cap1 gives a CLI! I almost wonder if they have a hidden strategy of doing things that help reduce people's FICO scores. Take the example above where someone has a $3,000 limit and they offer them a new card with a $300 limit. Frankly, that doesn't make any sense...or does it? - They hit all 3 reports for a hard inquiry - If you keep the card, the only way you can get your limit reported is to use it. But if you use it, your ratios are going to stink every month on that particular card. Let's say you run it up to $275 one month and then $150 every month after that (not unreasonable). Every month, you'll be over 50% utilization on that card. - If high limits help your score (and they do), do low limits hurt your score? I'm betting that they do and I'm sure Capital 1 with millions of card holders knows too - The average age of your accounts just went down - If the magic number for accounts is 3-5, they've just locked in two of those slots. While there have been exceptions on this board, the vast majority have been screwed when they get their second card. I don't think that's by accident.
