Capital One sucks....

For just about anything you want to get off your chest about credit cards.
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Capital One sucks....

Postby InCreditWeTrust » Tue Dec 25, 2012 2:30 am

Respected Members,

For those of you who remember you may remember me discussing my disappointing experience with Capital One. I have the Capital One Platinum card (first credit card) for over 2 years now, recently I tried the automated phone service to inquire about a credit limit increase and was automatically denied. I have payed off the entire balance several months ago, never made a late payment, always paid more than the minimum, and after 2 years with this credit card this company's phone service still denies me a credit limit increase out flatly. I am currently at a $500 credit limit with this card it's not that this financially impairs me in any way but it would be nice to get a boost in the debt/credit limit ratio overall on my credit history.

I tried the online chat service before the phone call, the lady asked for personal information to "access my account" I didn't feel comfortable at the time providing all the information and asked for a phone number. The phone number she provided me was to contact an "account specialist" it was NOT, it was an automated phone service I have dealt with in the past...

Capital One Sucks

Regards, InCreditWeTrust

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Postby agp » Tue Dec 25, 2012 9:06 am

Drop the card, no one likes it. One of my friends has a Capital One card for about 10 years now and the credit limit on it is only $10,000.

Also, Capital One said they emailed me the times to set up and interview with me and I never got the email. I called and asked and they said they would email me, but never did, again. Forget them.

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

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Postby Ratfacedudeguy » Tue Dec 25, 2012 5:48 pm

Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

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Postby MemberSince99 » Tue Dec 25, 2012 8:39 pm

Since you have a 500 dollar limit, you most likely have one of their "rebuilder" cards (for people with "fair" credit) and you can expect it will be many many years if ever before you see a CLI on it.

The fact is, you could bug the executive office and hope for a CLI, wait many years, or just get a different card that will grow with you, because the odds are excellent that this one won't.

After two years how is your credit? Would you be able to get a better card with a better lender? If not consider a secured card somewhere else to help raise your score. Otherwise get something better and sock drawer Crapital One.

In truth, they do offer a good way to grow your credit when you are rebuilding or just starting out, but once you hit a certain point, they are pretty much useless to you, and they couldn't care less if you go elsewhere in my experience. Like you I was stuck just a little over a year ago with a 500 dollar limit card. I called and asked them to increase the limit because I realized that I could barely fill my tank and get groceries and then I'd have to wait 10 days for my immediate payment to clear (or call in to them, a real pain in the *ss) before I could use the thing again. I said to the guy this is ridiculous it's pretty much unusable this way. He had no answer so I closed it and got prime cards and it was then I realized I could have had the prime cards all along and just didn't know that.

So you may be able to depending on where you are.

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Postby Midori » Wed Dec 26, 2012 11:39 am

I once read a car article about how car brands were competing with themselves... it used to be, for example, that you'd start off with a Chevy to start off with, get some sort of GMC family-mobile, upgrade to a Buick after you had an established career, and by the time you had peaked your career, you could get yourself a Cadillac. Or something like that. I don't pay attention to cars. But it struck me, when I was looking for a credit card, that I wasn't able to find a parallel to that concept in the credit card world as it currently stands-- a brand or something that you could stick with from having absolutely zero credit history, all the way up until you achieved their mega-awesome-superdreamcard. Heck, I couldn't even find anything that offered to grow with me from zero credit history until I achieved their ho-hum-average-rewards-card.

So complaining that a Capital One beginner card doesn't grow with you, or is lacking here, here, and there, kind of strikes me as complaining that your dorm room in undergrad isn't a 3/2/2. A Capital One card is the sort of card that someone sees and thinks, "I've got $40 to spend, and I'd like to establish some credit history so I can get the card I really want down the road." You use it for x period of time, and it gets you somewhere better, and you ditch it when it's not useful and you've replaced it with something better.

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