"My 2nd Capital One Card"

Comment 1 by arod

Congrats!! on 2008-10-12

Congrats capital one is one of the best to me and again congrats

And yes one thing slow down in applying before your FICO goes down but the choices are good and they will help your Credit file.

Take care,

Alex

Comment 2 by hjm331

Congrats! on 2008-10-12

Congrats on the new approval. I'm also lovin Capital One. They are one of my favorite cards if not the most favorite right now because they lend credit to everyone and don't nickel and dime you. Hope you enjoy your new card and nice CL!

Good Luck

Comment 3 by sethatco

Capital1 Is Capital NONE To Me on 2008-10-12

I loathe capital1, I hope between the bad mortgages they approved and the credit cards that have gone to default it puts this second rate hack of a company out of business or better yet someone comes along and buys them out. I have 2 cards with them, Visa & MasterCard, both for over a year with FICO scores of 760,780 and 775. They refuse to raise my CL I am stuck at 1250 on both cards. Every other credit card company I do business with has me at nothing less than 10,000.

I understand why most of the people on this site love them because they will give anyone with a pulse and a FICO score of 500 a card but I've got nothing nice to say about such a bunch of cheap SOBS. There cards reside in my underwear draw which is where they belong.

Comment 4 by colonative

Seth on 2008-10-12

Wow, angry much? Have you tried calling their back door number?

Also, I believe they do get a soft credit score every month and from what I remember about your other posts you have some pretty obscene credit lines.

Capital One has been been very conservative with their credit limits in the past few years-and good for them. Maybe if other banks had been as careful they would still exist and we wouldn't be having this credit crisis.

I have been with Capital One for over 10 years now, they were my first card at age 19. They really are an honest no frills company and I am sure they will still be around. Afterall, their main competition in the 90's was Providian. Providian sold out to WaMu and now WaMu is gone.

Try their backdoor number or just give it some more time. Or see if they will combine the Visa and MasterCharge for a higher limit on one card.

Comment 5 by mousepad

Cap 1 Rules on 2008-10-12

Sethatco here is the deal

cap1 looks at your scores but to them it does not mean much, its about how you use the cards over time.

take care of them and they will take care of you,

they have 3 levels of cards, cards for bad credit meaning it takes longer to get cli and after a year you hit a wall of $1000 to $1500. Level 2 cards are for ok credit and they have a wall of 1500 to 3000 and you have level 3 prime cards that start at 3000 and up.

keep in mind you choose the card you will get when you apply and choose wisely cause that's where you could be stuck for a wile.

now there are times when cap1 will work with you on an upgrade and 50% of the time it has nothing to do with your score but how you use your cards.

as for cap1 falling like other banks well don't hold your breath cause its not going to happen no time soon they are stronger than you think and its cause of how they deal with people. "do right by them and they will do right by you" that's what I have learned by doing business with them.

Comment 6 by wildrage2

Well... on 2008-10-12

You say that all of those other card companies give you larger limits... But are those limits 'real'?

Trying going over 3/4 of your limit on a Citi or Amex card, and see how quickly they knock that 10,000 limit down. These credit card companies give out fictitious limits that their card holders could never afford to pay off, and then cut the limits in 1/2 or 1/3 when they actually use them.


Nobody on this board has reported Capital One reducing limits, so to be honest with you, I'd take a 2k limit from Capital One that I can count on over a 10,000k limit that may be diced to a fraction of that from AMEX when I really need it.

Comment 7 by meya

U-Go-Boy! on 2008-10-12

Yeeees, cap 1 is the highly talked about card in FG. I am so happy for you and I know cap 1 are happy to know they put a smile on your face. I was thinking about the rewards card also sometimes next year. If I wanted to have more than one card in the same company, it would definitely be cap 1. They are the bomb.

Comment 8 by meya

RE: Sethaco on 2008-10-12

If cap 1 does not want to raise your limit and others have approved you with $10k limits or more, why don't you just let cap 1 go. That should make you feel embarrassed in comparison to the others. Cap 1 may feel like you have enough credit so why would you want them to raise you.

This is just an assumption, I am not Cap 1, I just don't see what the fuss is all about when other cards have showed you better love. That is the reason why I shredded a few cards, low limits.

Comment 9 by thomas1

Cap One on 2008-10-12

Sethaco, maybe you have too much credit. I also love Capital One so I'm following suit from the previous members posts.

Too many high lines sets off big flags to other issuing banks, due to the possiblilty of defaulting, another bank might only give you 1k. High lines= high risk also.

As previously posted, use the majority of your total credit limit on just one card right now, even if you pay in full, and watch them chop your line by 30-50%

I too, have Tier 1 issuers such as Citi and Discover, with Citi at 39k and Discover at 4k, and I won't go anywhere near those limits because I know what is going to happen.

As Colonative mentioned, you should just combine the 2 Cap One accounts together for one larger line. But, it looks like Capital One is here to stay, as their financials are strong and sound, more so than the Top issuing banks in the US. I feel safer with them right now, more than Citi for sure, and I love Citi. Alot of us on here got a start from Cap One, and I'm sure glad they are around!

Hope you find some satisfaction with them also.

Comment 10 by thomas1

Congrats!! on 2008-10-12

Congrats Wildrage!! Nice job on a second Cap One!

Nice limit also!!

Capital One rocks!

Comment 11 by kiejon9

CAP 1 on 2008-10-12

Sethatco here is the deal

cap1 looks at your scores but to them it does not mean much, its about how you use the cards over time.

take care of them and they will take care of you,

it took me some time to get my credit lines up with cap 1 and I have been with cap 1 for like 6-7 years

and I have 3 credit cards with them

card 1 15,000

card 2 25,000

card 3 20,000

and 2 paid car loans from when I was 18 and them 20

they take care of me and my company so I take care of them if you want good credit lines with them just take care of them and time they will take care of you

Comment 12 by yoyo11

Pre Qualify on 2008-10-13

Congrads Wildrage... I want another Cap1 card... Applied for the pre approval and the standard card went up. I'm glad it did not say, you don't qualify for any pre-approved offers LOL. I'm gonna wait a min/after the holidays.

Comment 13 by arod

Sethatco on 2008-10-13

Wow... I just read your comments on capital one... Sorry to hear that

I have never heard anybody say that about capital one..

And there is one thing If for example you don't use Cap one cards and you request a credit line they won't give you one.

I'm not saying that your case but just letting you know and again

I respect you comments.

Take care,

Alex

Comment 14 by coolkidny

My 2nd Capital One on 2008-12-13

I have had a Capital One Card for almost three years and the limit is only $750 so I applied for the NO Hassle Cash Back card and was given a $3,000 limit with the 3 steps program

Comment 15 by ilikecap

Re: My 2nd Capital One Card on 2011-01-23

Rebuilding credit, nope. Nowadays with this economy people with good credit are just as bad as people who just filed for bankruptcy.

The best thing to do is not to use your credit card. If you have to take a loan out for something, well guess what, you cant afford it! The best way to survive is to learn to live on cash.

You have to remember one thing, banks, credit card companies, any anyone who issues gift cards make money off your credit card purchases. They make anywhere from 2 to 4 percent of the amount charged. So yes to them its free money. The more you don't use it the more credit they give you.

And if you make payments ontime, they only reason why they raise your credit limit is because they know you make monthly payments ontop and your not a risk. So they say ok lets increase his limit because we know he's not going to miss any payments. Hense make you spend more so they can charge you finance charges and make more money.

Reality is, credit card companies don't use their own money to pay your debt, they borrow it for less than 1/2 percent nowadays from the government to pay your credit card. So 1/2 percent to 29.9% is all profit to them.

Credit card companies aren't giving you more credit because they like the way you do business or buy things. Its only because they know your not a risk, so they give you more credit so you can spend more and write them checks every month.

They want you to run up your credit lines so they can start charging you more on finance charges. You get used to making money payments that your comfortable with because you get used to it. So they increase your limit in in hopes you carry a balance the next month.

Banks are doing business like they where in the 1980s. Charging 20-29% in finance charges, charging monthly fees etc.

Chase is the biggest con artist. They are charging fees left and right. When they bought out Washington Mutual a year back, all WaMu customers who had a 9.9% interest rate on the credit card. No matter what type of credit history you had with WaMu, they increases you to 23.99% for no reason. And to this day they don't want to negotiate with you. They did the same thing with the savings and checking accounts. Chase doesn't like to see the world free. So they started charging fees for anyone who had a Wamu Savings account, then a few months later they did the same thing with checking accounts, and then finally with the business checking. Chase is the worse one of them all.

Getting a line of credit from a credit card company is just that, a loan. If you want a 10k loan the bank says you can only qualify for 8k, is the same thing with credit card companies. You cant bi*ch and complain if they lower your limit, its their money and they are making the call on how much you can borrow. So if they give you a $100 credit limit from a $5k limit, there's nothing you can complain or do about it, is their money. Hense switch to cash basis.

People are just lazy and they are mindless drones doing exactly what big business tells them to do. How many people use cash anymore? You wait on line and you see people charging $4.00 on their credit cards and ATM Cards. Well all you fools played in what business wants you to do, make money for them. They make 2-4% of the total transaction. No excuses that it doesn't cost you anything, Thas bull! You pay that 5% more in the price of the item. Ever go toa gas station and see they charge more for credit cards (they fool you and say its a discount for cash). But its you people that were mindless drones and keep giving money to these large companies becase your simply to lazy to stand in line in the bank and get cash and learn how to add and subtract.

Drones that have to have an IPhone, have to have a Tatoo, have to have a Myspace and Facebook account. A bunch of followers and big business is the pide pipper!

Comment 16 by ilikecap

Re: My 2nd Capital One Card on 2011-01-23

As far as capital one. Personally for my business they have been the best financial institution I've delt with so far.

They gave me rewards points on both my personal and business accounts, they increased my limit 3 fold in one instance from 30k to 80k without asking for it. They raised me from 1% cash back to 2% on everying we buy.

If we had a problem with a dispute they were ok here you go, sign here we'll take care of it. They reversed fees and gave me credits when it was the other persons fault. They lowered my apr to 9.9%.

When JP Morgan pulled their BS with us, we closed all our Chase accounts and gave it to Capital One.

I have 12 other credit cards, kept the numbers and schreded the card. I use only Capital one.

If you make a 600 payment a month the best way to do it, is to make 4 payments of 125 each week. It looks better to capital one, showing you made 48 payments ina year as a possed to 12. Plus interest is compounded by all credit card companies on a daily basis. So if your making daily or weekly payments your saving on finance charges because your chargeable balance is lower.

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