capital one mail offer crap...

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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olefaithful
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Postby olefaithful » Tue Dec 23, 2014 1:07 am

I have received at least one of the Quicksilver pre-approved offers per week for a few weeks or more, it seems. In fact, I also got an email a week ago as I have a secured card with them right now (trying to rebuild my credit). I've had that secured card for a little over 2 years now. I went ahead applied for the Quicksilver via the codes in the email as I don't tend to click-through links from email. I was approved for $1,000 limit, 0% APR until September 2015, regular APR of 22.9% (same as my secured card) and no AF (secured has AF of $29). That totally shocked me! It was actually approved right there within 30 seconds in the web browser! Ha! My secured card only has a limit of $226 as it was the $200 they offered for a $99 deposit but I deposited $125 giving me $226. So this jump to a $1,000 limit was definitely unexpected, seeing as how via creditkarma and the CO credit tracker both say my credit score is 602. So yeah, that completely took me by surprise. But I think the last remaining hard inquiry dropped off a few days prior to when I applied. So now I am back to one hard inquiry, but hey, I did get what seems like a great card (for me) out of it!

Oh the funny thing was that today when I picked up the mail from the mailbox not only was my new Quicksilver in the mail but there was also yet another Quicksilver pre-approved offer! I think that is ridiculous.

Seeing as how someone has mentioned that they are sending these offers out like crazy, I wonder what's going on inside CO to cause them to spam the US trying to get more people to use their cards... Could they be having financial instability we don't know about? Hmm.


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lobbythis
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Postby lobbythis » Tue Dec 23, 2014 1:59 pm

I have a QS Visa and QS MasterCard, so it is common for them to offer both. I don't think they are unstable as a company. I think they are aggressively targeting the credit rebuild and new-to-credit market. It seems to me they have a large presence there and people know it.

They have been one of the most generous lenders for me. First one to offer me a Visa Signature card as well. The rewards programs are easy and redeeming cash/points is even easier.

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Vattené
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Postby Vattené » Tue Dec 23, 2014 4:43 pm

I agree, I think it is jusy very aggressive marketing. The QS is meant to compete with the prime cards and I suspect they're gunning for a larger market share of these prime customers.

You planning on giving the secured card the ax now?
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

olefaithful
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Postby olefaithful » Tue Dec 23, 2014 5:01 pm

Vattené wrote:...

You planning on giving the secured card the ax now?

Yep. I will wait a few months just to make sure things are going smoothly but I need to pay it off and with Christmas right around the corner, Okay, right smack in my face I need to pay down the secured card over a few months. I am not working consistently due to prolonged health issues so my parents are paying my bills. They have limited income as they are retired, so we've got to not spend money like crazy.

I don't really want to close the card but then again it's costing $29 per year that could be put to better use. And it's now technically my oldest credit card, though my credit report shows my oldest line of credit is a little over 12 years old, but I think that' a student loan that hasn't yet been paid off. I'm not sure if student loans count as a line of credit.

But yes, my goal is to close that account by October (which will probably happen) since that's when the $29 fee hits. :)

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otter
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Postby otter » Tue Dec 23, 2014 8:31 pm

nismoZtuner wrote:Yeah amex was the first one to increase my limit in the first 6 months of being a card memeber.. unlike discover that took a little over a year.. Then chase gave me an increase without letting me know 4 months after getting my CSP.


My experiences have definitely been different. I got two CLI's from Discover the first year. Chase really hasn't given me any CLI's but I've gotten three cards from them this year, so I don't really hold it against them. Amex? No love at all. I recently upgraded to a BCE with a chip and the CSR (who I admit was nice) asked if I planned on going to Canada since I am really close to the border. I told him no... my socks prefer snuggling up with cards with chips since it gives them a sense of security. Otherwise, the card is useless since it is my lowest limit by far (other than my Freedom which is low since I've moved Chase CL's around). He sent the card anyway...

Just don't understand their "failed our credit risk assessment" bs- go to FICO and see people with bankruptcies and baddies still reporting who get 3X increases all the time. For me Amex is all about backdating, can't think of any other appeal to their cards. At least Cap One gave me a 5k limit to start.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450



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