"What's In My Wallet ... Finally!"
Capital One® Classic Platinum Credit Card Review
Written by: mtj2150 on 2008-05-25
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
mtj2150's review: 
Two years of credit rebuilding... And I'm finally arriving. Thank you Cap1. Finally something not-so-subprime!
All who have said it here are correct - customer service is top-notch. Explained everything thoroughly (maybe a bit TOO thoroughly) during activation. Initial credit limit is low - $500 - but I expected that and will try that backdoor number floating around here once into the card a few months.
Interesting - no "credit steps" letter came with this, as I was expecting. No matter - the original app said 3-month review and from what I've seen here, I believe it.
Gonna hang on to all those subprimers for awhile - just to keep the credit score up there. Next target: Amex in a year or so.
Cap1: GOOD CARD - GOOD COMPANY.
Two years of credit rebuilding... And I'm finally arriving. Thank you Cap1. Finally something not-so-subprime!All who have said it here are correct - customer service is top-notch. Explained everything thoroughly (maybe a bit TOO thoroughly) during activation. Initial credit limit is low - $500 - but I expected that and will try that backdoor number floating around here once into the card a few months.
Interesting - no "credit steps" letter came with this, as I was expecting. No matter - the original app said 3-month review and from what I've seen here, I believe it.
Gonna hang on to all those subprimers for awhile - just to keep the credit score up there. Next target: Amex in a year or so.
Cap1: GOOD CARD - GOOD COMPANY.
12 Comments
Comment 1 by wildrage2
Credit Steps 
on 2008-05-25
The credit steps letter generally comes 2-3 weeks after receiving your card.
on 2008-05-25 The credit steps letter generally comes 2-3 weeks after receiving your card.
Comment 2 by arod
That Cool !!!! on 2008-05-25
Well I think your doing the right thing yes build a good FICO pay on time don't go over your credit limit and keep it under 35% credit utl.... You should be alright,
Good luck,
Alex
on 2008-05-25 Well I think your doing the right thing yes build a good FICO pay on time don't go over your credit limit and keep it under 35% credit utl.... You should be alright,Good luck,
Alex
Comment 3 by arod
Oh And By The Way. on 2008-05-25
I have this card and it great my credit line was $1800 I called the back door number and the raise it to $2300 and I use the $500 to pay and sock drawer ORCHARD BANK which I already did!!
Good luck to you,
alex
on 2008-05-25 I have this card and it great my credit line was $1800 I called the back door number and the raise it to $2300 and I use the $500 to pay and sock drawer ORCHARD BANK which I already did!!Good luck to you,
alex
Comment 4 by hjm331
Wildrage Is Right on 2008-05-25
The "credit steps" letter doesn't come with the welcome package with your card. It comes in the mail a few weeks after you receive your card. It is a great card though so make sure of you take care of it as they will take care of you.
Good Luck
on 2008-05-25 The "credit steps" letter doesn't come with the welcome package with your card. It comes in the mail a few weeks after you receive your card. It is a great card though so make sure of you take care of it as they will take care of you.Good Luck
Comment 5 by arod
The Number on 2008-05-25
The back door number is call after three months 877-513-9959 thanks to Debtor00
They help me get a credit line Increase, make a note of it..
Good Luck,
Alex
on 2008-05-25 The back door number is call after three months 877-513-9959 thanks to Debtor00 They help me get a credit line Increase, make a note of it..
Good Luck,
Alex
Comment 6 by meya
Way To Go on 2008-05-25
I think we all will agree with you about cap 1. This is a very good card to have, and ye, you are correct about the "not so subprimed" statement.
on 2008-05-25 I think we all will agree with you about cap 1. This is a very good card to have, and ye, you are correct about the "not so subprimed" statement.
Comment 7 by lindalu
Utilization And Getting An Increase on 2008-05-26
I used my card for a trip and was wondering if my utilization is high will that hinder me from getting an increase through the back door number... Any opinions? I can pay it down and then call but I never paid late and always pay a lot more than minimum payment
on 2008-05-26 I used my card for a trip and was wondering if my utilization is high will that hinder me from getting an increase through the back door number... Any opinions? I can pay it down and then call but I never paid late and always pay a lot more than minimum payment
Comment 8 by hjm331
RE: LindaLu on 2008-05-26
If you're not applying for any loans, mortgages, or credit cards, utilization won't be a problem because your score will drop but as soon as you pay it off, your score will bounce right back up.
Good Luck
on 2008-05-26 If you're not applying for any loans, mortgages, or credit cards, utilization won't be a problem because your score will drop but as soon as you pay it off, your score will bounce right back up.Good Luck
Comment 9 by thomas1
Linda Lu on 2008-05-26
I spoke to a rep at the backdoor number last week. They informed me that they like to see alot of usage or utilization with the card, lots and lots of usage. However, as far as utilization percentage, never have the balance any higher than 35% of the total credit line at the time the statement cycles each month. Pay it down before it cuts, because this is what is reported to the 3 bureaus each month, and calculates into the fico formula. I've only had my account for just over a month, got a cli from 1k to 2,400... Also waiting for the 3 mo credit steps to kick in to go to $2,900
on 2008-05-26 I spoke to a rep at the backdoor number last week. They informed me that they like to see alot of usage or utilization with the card, lots and lots of usage. However, as far as utilization percentage, never have the balance any higher than 35% of the total credit line at the time the statement cycles each month. Pay it down before it cuts, because this is what is reported to the 3 bureaus each month, and calculates into the fico formula. I've only had my account for just over a month, got a cli from 1k to 2,400... Also waiting for the 3 mo credit steps to kick in to go to $2,900
Comment 10 by thomas1
Cap One-cli on 2008-05-26
Possibly the reason for the increase so soon was due to the fact that I have relationship accounts with them as well, online savings over 10k, and an auto loan that has been paid perfectly over 2 years now. Maybe having other accounts with them helps, as I know it has with Citi and Chase also.
on 2008-05-26 Possibly the reason for the increase so soon was due to the fact that I have relationship accounts with them as well, online savings over 10k, and an auto loan that has been paid perfectly over 2 years now. Maybe having other accounts with them helps, as I know it has with Citi and Chase also.
Comment 11 by lindalu
Thanks Thomas!! on 2008-06-01
Yes I think having other accounts with them truly does help... I had a lot of luck with that with chase before I fell into my financial hardship and started back at square one!!!..
However I did try the back door number a little over a month ago and they told me no for a cli... I really don't understand why... Do you think I should try to call again and maybe have better luck with another rep?
I was thinking of maybe mentioning that I got a better offer with another co and was thinking of canceling and see if that helped.
thanks for you help!
on 2008-06-01 Yes I think having other accounts with them truly does help... I had a lot of luck with that with chase before I fell into my financial hardship and started back at square one!!!..However I did try the back door number a little over a month ago and they told me no for a cli... I really don't understand why... Do you think I should try to call again and maybe have better luck with another rep?
I was thinking of maybe mentioning that I got a better offer with another co and was thinking of canceling and see if that helped.
thanks for you help!
Comment 12 by thomas1
LINDA LU on 2008-06-04
If I were you, I would pay it down first, and what the heck, call again and get an account manager to speak with. Explain to him/her how long you've been with them, your payment history, never overlimit, etc. Sometimes you have to really lay it on thick. I do know one thing from being an account manager in the credit dept. At Citi, that if all else fails and they offer nothing, tell them you want to close the account. Usually the final step before retention closes the account, they will step up and give you literally anything your heart desires... Keep in mind that your history must be superb with them as far as what I mentioned above. Believe me, they HATE to close an account because they have to give an account as to why... Let me know as soon as you do this, I'm anxious to hear about it... Good Luck!
on 2008-06-04 If I were you, I would pay it down first, and what the heck, call again and get an account manager to speak with. Explain to him/her how long you've been with them, your payment history, never overlimit, etc. Sometimes you have to really lay it on thick. I do know one thing from being an account manager in the credit dept. At Citi, that if all else fails and they offer nothing, tell them you want to close the account. Usually the final step before retention closes the account, they will step up and give you literally anything your heart desires... Keep in mind that your history must be superb with them as far as what I mentioned above. Believe me, they HATE to close an account because they have to give an account as to why... Let me know as soon as you do this, I'm anxious to hear about it... Good Luck!
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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.
