jal540 wrote:Yes, it is insulting, but it will save you a bit for now. As you observed, Capital One is far from the top choice, at this point.
Technically not really saving me anything as I have no balance. It's more just a principal thing, and it annoys me that a longtime customer with perfect history has the worst APR and no chance to really lower it.
But it's okay -- they're in the drawer, and not coming out anytime soon. Not that they care, but I won't be using the card.
I agree, not the top choice. Capital One has a great reward program going for them in the QS, but that's about the only positive thing I can say. Getting anything accomplished with them is a complete PITA. Let's see:
1) Last year, my card was upgraded to Visa Signature. I had a custom image card. After 2 separate new image orders, the card STILL said "Visa Platinum" even though the account was Signature. A minor annoyance at best, but no one at Capital One seemed to know why or what to do to fix it. Then for some odd reason, an image card ordered in September finally was "fixed". But why was this an issue to begin with? A very tiny, petty issue yes but it shouldn't happen.
2) CLIs are 6 months apart, with no HP at least (which is great). But there's no wiggle room for an analyst to override the computer. You get the increase or you don't get the increase. Period.
3) APR reductions, the subject of this thread, just don't happen. I have seen a few permanent ones but they involved hassling with EO for weeks and mostly tiny drops of 1-2%. Considering I can simply call Amex, Discover, etc and get an APR reduction with ZERO hassle to reward my loyalty, I'm not inclined to expend effort trying to get the right person (emailing EO, getting a pin, playing phone tag) on Capital One to maybe drop my APR.
These are just my personal opinions. They have their place, but it's not in my wallet at this point. The only positive is the 1.5% cash back, truly no hassle, redeem anytime, etc. On a "reward program only" basis, IMO it beats the Double Cash in every way except pure earnings % since it's more straightforward. But as a total picture -- Capital One has some work to do.