Does anyone else find the Cash Rewards card ridiculous?

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Money card
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Postby Money card » Wed Apr 25, 2012 10:31 pm

Moneytalks wrote:To be honest, I find Capital one ridiculous as a whole, I mean, from what I heard, don't you have to have a checking account with them to have credit cards????

You are correct. But you can call them up they will send you a short form application and then like me, you don't have to have a checking account to open a credit card. In the bank opening it, you are correct.

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Postby andy1088 » Thu Apr 26, 2012 7:26 am

I emailed the Capital One CEO a couple days ago about the terrible customer service I received. I haven't received back a response I guess to him customer service is not a top priority.

I normally don't bother companies over policies that are beyond their control, but last night I received the most porous customer service I have ever received my entire life. I called Capital One last night to see what they could do for me as I have been a perfect payment customer for over a year now and have been completely dissatisfied with my card. I talked to four different "account specialists" including a supervisor. After explaining my story to each one of them they refused to do anything for me. I really just wanted to upgrade my Newcomer rewards card to the new Cash rewards card that you get an extra 50%. They kept telling me to apply for a new card and I explained that I have no interest in a second card as well as no interest in hurting my credit with a new inquiry. I then inquired why a credit line wasn't available and the "supervisor" told me they check credit and mine wasn't ready at this current moment. I explained how since I opened the card last year my credit has gone up by about 80 points and how I have other cards with triple the credit limit that are considered prime cards and that this card does not fit into my rotation because of it's useless rewards as well as terrible credit line. I am not sure about you Mr. Fairbank, but $500 to spend on travel is not enough for most hotels for more than 2 nights and also what flight can I book for $500? Thus making the 2% on travel utterly useless as well as the 1% on everything else useless because I have both a Discover More and Chase Freedom that I receive 1% back as well as 5% rotating categories and both cards have at least double if not triple the credit line.

What bothers me is that I have a perfect payment history and I feel like I'm treated like someone who constantly makes late payments. Even though all the reps thanked me for being a great customer the best they could offer me was a 20.9% apr as opposed to 24.9% I declined because I never let interest hit the account as I always pay the whole balance off way before the due date. I also told the supervisor that I would just keep the card open and never use it due to the card not helping me at all..

Mr. Fairbank in all fairness to your company, I'm really disappointed and also explained my disgust that I wanted to contact someone higher in the company to the account specialist. The "customer service" I received was terrible and makes me want to explain to the world that Capital One really is a classless terrible company to get credit with. Also, they also kept telling me "no" and I work in customer service and would be fired if I told my customer "no" it's rude, inappropriate and should be stopped.I think this is the WORST customer service i have EVER received my entire life. I will leave my contact info below please contact me at your earliest convenience
My cards
Chase-Sapphire-$5,000 Freedom-$3,000, Amazon rewards-$700, Slate-$600
Citi- Diamond Preferred-$4,000, Thank you-$2,500
Discover IT-$2,500
Bank of America cash rewards-$2,000
Capital one newcomer rewards-$500

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Postby hematino » Fri May 11, 2012 4:29 pm

Andy, I agree whole-heartedly with you. Halfway through April, I applied for the exact same card (who the heck wants the plain 1% offer with a $39 annual fee, making you spend $3900 annually just to break even??). Oh yeah, I forgot to mention that they sent me an invitation to apply for the excellent credit version. I was only looking for a tertiary credit card to use strictly for utilities. After using the offer number they mailed me, I was denied in about 30 seconds online.

Fast forward a couple weeks. Capital One sends me a letter in the mail regarding my recent denial. After hard pulling all three credit bureaus, they say I was denied because my "credit limits are too low", I "am not a homeowner", and I have "too few or no accounts." They also cited my TransUnion FICO score of 724. At the time I had 6 revolving credit accounts and a charge card (Amex Green), my credit lines totaled $12,400, i had probably 5% of my credit in use (I pay off my balances in full) and average account age was ~2.5 years. It was really annoying because I wasted a hard pull on all 3 bureaus and upon calling their "reconsideration" line that I googled, they flat out told me they don't do recons.

So instead I decided to just put my applicable utilities on my Discover More card, apparently if you put them on autopay you earn 2% back , which is more than i would have made from that boring CRAPital One card. Also just got approved for a Fidelity Investment Rewards card with a $2500 credit limit that gives you a flat 2% on everything, so it turned out ok in the long run. The only other Capital One card that I'm even remotely interested in is the SonyCard, but there are so many better offers out there from other banks, I think I will probably just avoid them in the future. Three pulls is a lot to stomach for the usually stingy bonuses Capital One offers on their cards.
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