Can I get a Cap1 card for Newcomer's if I'm not new to the country?

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s.jessica
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Can I get a Cap1 card for Newcomer's if I'm not new to the country?

Postby s.jessica » Sat May 25, 2013 4:59 pm

Has anybody here applied for Capital One's Newcomer's card when they aren't new to the country? I was told on another forum that would be fraud against a credit card company but I don't see a place on the application where it asks what country you are from. Their student card is the same way, it doesn't ask what school you attend. In a chat they told me the card was also marketed for young adults and they don't need to be enrolled in college. So if it's marketed for young adults, they might then determine I'm too old????

Anyhow, I used the cardfinder tool and it showed Capital One for Newcomers, Platinum $19 AF, Platinum Classic $29 AF and Cash Rewards $39 AF were the only cards I qualified for. I've had their secured card with a $1,500 CL for a little over a year now, so I would hope they would see that and be able to get me another card. Nobody seems to know if they would match the $1,500 on the secured card, only give me $500 or offer me another secured card. I suppose an app will find out.

US Bank unsecured my card but when I just checked, they left the limit at $300. Is there something I could do to raise my limit or do I just have to wait for them?


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FastSRT8
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Postby FastSRT8 » Sat May 25, 2013 5:18 pm

This is clearly grey. I'd be very careful as you are not a newcomer.
Carpe diem quam minimum credula postero!

MemberSince99
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Postby MemberSince99 » Sat May 25, 2013 5:30 pm

I'm not a newcomer, but some say I act like I just got off the boat.

I was going to suggest calling and asking them, but if you get their regular CSRs that would turn into a circus. You can imagine them frantically trying to find something like that in their scripts and failing, so then they turn to their all time favorite fallback for cases like that - a magic 8 ball.

"Oh yes, s.jessica, and if you are calling to request a credit line increase I must inform you that Capital One is a very conservative lender, and we appreciate your business but at this time your account is not eligible for an increase. But we will periodically review accounts and if you are eligible your new credit line will be available within with 24 hours and you will be notified.
Oh you are calling about something else, yes please excuse me. Newcomer's card is for people new to the country and can be used at thousands of participating merchants where you will grow your credit and show responsible use of a credit card for increasing your credit score which is a vital part of your overall credit health. You can add authorized users to increase your use of the card and to build a positive hisotry.
Did this answer your question? I see, and I understand that you are telling me that this did not answer your question, then very well s.jessica may I please point out that this card protects you from fraud so if someone steals your card and uses it, you will only be liable for the first 50 dollars in purchases and if you notify us within 24 hours you will not be liable for any costs. But in the unfortunate event you lose your job, we offer this credit insurance which will make your payment for you. It adds only pennies a day onto your bill and gives you peace of mind that your payment will be made no matter what. Did you find this information useful?"

I mean seriously if you've ever called them you know that's what it's like. I still remember those days, the closest I come today is when I call the CS number on the back of my Gold card. They are a step above that, but not nearly as much of one as I'd prefer.

s.jessica
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Postby s.jessica » Sat May 25, 2013 8:30 pm

I had an online chat with someone on the Cap1 website. I didn't get the conversation saved, but basically they said the Cap1 card for Newcomers is marketed toward those who are new to the United States, but being new to the country is not a requirement as it is also for those who are new to credit with <2 years credit history and an average credit score.

Get this, in another conversation, they also recommend the Journey card which is marketed toward College students but they said I don't have to be enrolled in a college to apply as it's also for young adults who may wish to join the workforce without attending college.

I'm not saying it's correct for anyone to lie on a credit card application, but the Newcomer's card doesn't ask what country I'm from and the Journey card doesn't ask what school I attend. Without doing tons of research on my own, using google and being a member of several boards, I might have no clue what these cards really are. Of course I'm sure the politically correct thing to do it to apply for their Platinum Classic card with a $29 AF and no rewards. Basically applying for the Newcomer's card makes me feel like I'm cheating Cap1 out of their $29 AF and taking advantage of rewards. So what if I poke the bear, it's just a harmless bear, right?

MemberSince99
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Postby MemberSince99 » Sat May 25, 2013 8:45 pm

I know all about poking the bear, believe me

If they told you it's ok, then it's not doing anything wrong. They flat out said you could. So whether you do it or not is up to you, and is between you and them.

Only bad thing with them is they pull all 3 but if you are in the position of just needing another tradeline to help get you over the hump and won't be applying for a while for too much else, I'd pay that price.

Of course given what they've said I would not expect a big limit or anything. But if you need another tradeline, seems like a decent option.

ivotedale
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Postby ivotedale » Mon May 27, 2013 1:56 pm

The Cap 1 Newcomers is one of my oldest cards- I've certainly lived here in the US my entire life and was approved.

I do remember having the same question running in my mind before applying, but after looking at the terms+conditions, and at the time I applied anyway, there was nothing mentioned about being from out of the country.

It def. is a great stepping stone, since a couple years later I'm in with Amex and Chase, but there are probably better options for longer-term use. It's in the sock-drawer for me, strictly because of the weak credit limit (capped CL at $750). Although, since it is a "platinum Mastercard" of sorts, I verified w/ both Cap 1 and Mastercard it IS eligible for concierge service. I don't use it, but handy.

Other benefits include no-foreign transactions fees, and 2% on travel I believe. I didn't really know this until I was bored one day and reviewed the terms again.

And as S.Jessica mentioned, it is certainly targeted to those with average credit scores, or none-at-all. It's an okay starter card imo.

If you're thinking longer-term, I would aim to pay off any balances every month in full (if you already don't), and keep a lower spending utilization % to increase your credit score, and aim for a higher-tier card. I know I wanted to grow out of Cap 1 the first year I had it.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

credit_card_fonz
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Postby credit_card_fonz » Mon May 27, 2013 4:22 pm

Capital One for fair to average credit is a funny animal. You might get put on the "steps" program where you get a $500 credit limit then it increases to $750 in 6 months but that's the one and only increase you will ever get. If you already have a higher limit, they might give you $750 to start and leave you there. Don't expect a higher limit from Capital One, they won't give it to you even if you have other high limits. The only card I really recommend is the Newcomer's card. It has no annual fee and even if you get a toy limit which you likely will, you won't need to close it.



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