"CC Is Great,payment Protection Is ?"
Capital One® Platinum Review
Written by: krave on 2010-01-10
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
krave's review: 
Received a Pre-Approved offer in the mail, responded to the offer online and instantly approved, however did not find out the CL or the APR until I received the card with the terms. At the time of application, I applied for 2 store cards (JCP & Wal-Mart) in 2 straight days, applied for this card on the 3rd straight day. My credit history is only a year, with a student cc at BoA and a recently co-signed car loan.
I always PIF with my BoA Student CC and never late on my car loan payments.
Activating the card was easy, you call the number on the card and verify the info. The CSR was very polite & friendly, however I noticed she was reading a script. Anyway towards the end of the call, she was really pushing the Payment Protection Plan. I declined her politely a couple of times, but wouldn't really stop so I finally gave in and said yes (which I really regretted) then she offered a credit monitoring program and I really said I'm not interested. I'm glad she did not really push that offer anymore. I researched on the Payment Protection Plan afterwards and I read a couple of reviews saying it's a scam or it's not really a good program because they (Stonebridge Benefit Services) give their client a "run-around" when time comes you file a claim. But I can't blame the CSR that handled my call because I'm sure it's part of their script and since they're out-sourced (I noticed she has a different accent) they have no idea about the product/service that they are offering to their cardholders.
But so far, the credit card itself is serving its purpose. I was offered 0% APR until January 2011, then 22% thereafter (which doesn't bother me right now because I plan to always PIF each month), $0 annual fee and automatically enrolled in the "Credit Steps Program" which the CSR informed me that I would get an increase on my 5th billing statement as long as I pay on time. I can even track my account online, but it does not show my current APR.
Total Impression: This is a Keeper! =)
Received a Pre-Approved offer in the mail, responded to the offer online and instantly approved, however did not find out the CL or the APR until I received the card with the terms. At the time of application, I applied for 2 store cards (JCP & Wal-Mart) in 2 straight days, applied for this card on the 3rd straight day. My credit history is only a year, with a student cc at BoA and a recently co-signed car loan.I always PIF with my BoA Student CC and never late on my car loan payments.
Activating the card was easy, you call the number on the card and verify the info. The CSR was very polite & friendly, however I noticed she was reading a script. Anyway towards the end of the call, she was really pushing the Payment Protection Plan. I declined her politely a couple of times, but wouldn't really stop so I finally gave in and said yes (which I really regretted) then she offered a credit monitoring program and I really said I'm not interested. I'm glad she did not really push that offer anymore. I researched on the Payment Protection Plan afterwards and I read a couple of reviews saying it's a scam or it's not really a good program because they (Stonebridge Benefit Services) give their client a "run-around" when time comes you file a claim. But I can't blame the CSR that handled my call because I'm sure it's part of their script and since they're out-sourced (I noticed she has a different accent) they have no idea about the product/service that they are offering to their cardholders.
But so far, the credit card itself is serving its purpose. I was offered 0% APR until January 2011, then 22% thereafter (which doesn't bother me right now because I plan to always PIF each month), $0 annual fee and automatically enrolled in the "Credit Steps Program" which the CSR informed me that I would get an increase on my 5th billing statement as long as I pay on time. I can even track my account online, but it does not show my current APR.
Total Impression: This is a Keeper! =)
6 Comments
Comment 1 by krave
Forgot To Add CL 
on 2010-01-10
Capital One gave me $1000 CL, automatically enrolled in the Credit Steps Program.
on 2010-01-10 Capital One gave me $1000 CL, automatically enrolled in the Credit Steps Program.
Comment 2 by wanderer
CC Is Great,payment Protection Is ? on 2010-01-10
Krave - the reason credit card and banks push credit protection programs is it makes them money! I wouldn't call them a scam but they are personal in choice and expensive in reality. The activation process in my findings for several new or renewed cards is the same. They really use it to push products and they don't quit. I have gotten tough and quite harsh as the activation to me is suppose to be about security NOT getting products shoved down my throat. Bank of America is terrible with this!
on 2010-01-10 Krave - the reason credit card and banks push credit protection programs is it makes them money! I wouldn't call them a scam but they are personal in choice and expensive in reality. The activation process in my findings for several new or renewed cards is the same. They really use it to push products and they don't quit. I have gotten tough and quite harsh as the activation to me is suppose to be about security NOT getting products shoved down my throat. Bank of America is terrible with this!
Comment 3 by krave
RE: Payment Protection on 2010-01-11
I totally agree with you, Wanderer. When I first had my Bank of America Student Visa, I was also "forced" to sign up for their payment protection, after I received the welcome packet for that program, I immediately called the number to "opt-out". The CSR was really trying to convince me, but I told him I don't need it. He finally gave up. You have to be really firm in saying "no", otherwise they would assume your "uh-huh or um" is a yes. I wish I don't have to speak to a live rep to activate my credit card so I don't have to deal with those offers...
on 2010-01-11 I totally agree with you, Wanderer. When I first had my Bank of America Student Visa, I was also "forced" to sign up for their payment protection, after I received the welcome packet for that program, I immediately called the number to "opt-out". The CSR was really trying to convince me, but I told him I don't need it. He finally gave up. You have to be really firm in saying "no", otherwise they would assume your "uh-huh or um" is a yes. I wish I don't have to speak to a live rep to activate my credit card so I don't have to deal with those offers...
Comment 4 by marie7
Capital One on 2010-01-18
I just got this card on a whim (same terms with no annual fee). Now that I have this one and HSBC Discover, I am parting ways with my Credit One Bank card. Got rid of First Premier last year (blood suckers). Credit One raised my annual fee from 69 to 99 even though I had perfect payment history (vultures)... So paid it off and canceled it. Now I have no cards with an annual fee and it feels good!
on 2010-01-18 I just got this card on a whim (same terms with no annual fee). Now that I have this one and HSBC Discover, I am parting ways with my Credit One Bank card. Got rid of First Premier last year (blood suckers). Credit One raised my annual fee from 69 to 99 even though I had perfect payment history (vultures)... So paid it off and canceled it. Now I have no cards with an annual fee and it feels good!
Comment 5 by krave
$0 Annual Fee Rulez!!! on 2010-01-18
Congratulations on your new Capital One CC Marie7! It really feels great to have cards without the annual fee. Why would you pay a CC company that charges for an AF, when you can get a CC without an AF? A very wise move, Marie7!
I have been reading the reviews and forum posts of the members here and almost everybody puts in a good word for Capital One, and that really urged me to go ahead and say "yes" to the pre-approved offer. =)
on 2010-01-18 Congratulations on your new Capital One CC Marie7! It really feels great to have cards without the annual fee. Why would you pay a CC company that charges for an AF, when you can get a CC without an AF? A very wise move, Marie7!I have been reading the reviews and forum posts of the members here and almost everybody puts in a good word for Capital One, and that really urged me to go ahead and say "yes" to the pre-approved offer. =)
Comment 6 by krave
Update:Payment Protection Status on 2010-01-18
Received the Terms & Conditions for the Payment Protection Plan offered by Stonebridge Services last week. I called the number and canceled the plan on my CC account. The CSR who handled my call was really trying to convince me to stay, but I was really firm and politely said no. I'm glad she accepted my request and canceled it. Now I'm Payment Protection Plan free! =)
on 2010-01-18 Received the Terms & Conditions for the Payment Protection Plan offered by Stonebridge Services last week. I called the number and canceled the plan on my CC account. The CSR who handled my call was really trying to convince me to stay, but I was really firm and politely said no. I'm glad she accepted my request and canceled it. Now I'm Payment Protection Plan free! =)
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Disclaimer: This content is not provided by Capital One. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One. Review content is powered by Finance Globe.
