Got the Buypower card

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MemberSince99
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Got the Buypower card

Postby MemberSince99 » Mon May 04, 2015 2:47 pm

I thought about this card, but I just couldn't quite get over the fact it's offered by Capital One. I thought what if Amex sees I have a Cap One card.

Then I realized well I will want another vehicle someday, so I guess if they see that and don't like it, oh well. The way their customer service is going they should be careful or they won't have too much better as far as the foreign reps go.

I pictured myself having it and even the limit I figured I'd get. App'd, and instant approval for the limit I saw - 10k.

It struck me how ironic it is that they of all lenders gave me a starting limit much higher than Discover.....there was a time I wouldn't have believed they gave 5 figure limits.

So I'll get this into the rotation and put aside some money for a vehicle in the future.


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lobbythis
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Re: Got the Buypower card

Postby lobbythis » Mon May 04, 2015 5:16 pm

Why would Amex care?

Please tell me, from experience or some anecdotal evidence, why Amex would close your cards because you have a card with another lender.

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Re: Got the Buypower card

Postby Nixon » Mon May 04, 2015 5:23 pm

MemberSince99 wrote:I thought about this card, but I just couldn't quite get over the fact it's offered by Capital One. I thought what if Amex sees I have a Cap One card.

Then I realized well I will want another vehicle someday, so I guess if they see that and don't like it, oh well. The way their customer service is going they should be careful or they won't have too much better as far as the foreign reps go.

I pictured myself having it and even the limit I figured I'd get. App'd, and instant approval for the limit I saw - 10k.

It struck me how ironic it is that they of all lenders gave me a starting limit much higher than Discover.....there was a time I wouldn't have believed they gave 5 figure limits.

So I'll get this into the rotation and put aside some money for a vehicle in the future.


Go max out the yearly 5K/5% with some Ice cream at OD/OM. Set aside till next year.
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CarefulBuilder14
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Re: Got the Buypower card

Postby CarefulBuilder14 » Mon May 04, 2015 7:31 pm

That 5% on $5k is hard to beat if the rewards are convenient for you. Save it for something like an insurance payment where there's no bonus category (unless you'll be getting other cards and have signup bonuses to meet).
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MemberSince99
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Re: Got the Buypower card

Postby MemberSince99 » Tue May 05, 2015 7:19 am

lobbythis wrote:Why would Amex care?

Please tell me, from experience or some anecdotal evidence, why Amex would close your cards because you have a card with another lender.


As far as I know, they wouldn't close them for that. If they did, ok.

I was referring to their analysts seeing I had a Cap One, which they and Chase are said to not think highly of. A lot of us don't think highly of Cap One either for that matter.

But I never said they were going to see that and close the accounts. I am referring to looking down on my choice of card, which I got to thinking well if they do so what if it works for me.

You're reading WAY too much into that.

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Re: Got the Buypower card

Postby jcarte29 » Tue May 05, 2015 9:29 am

MemberSince99 wrote:
lobbythis wrote:Why would Amex care?

Please tell me, from experience or some anecdotal evidence, why Amex would close your cards because you have a card with another lender.


As far as I know, they wouldn't close them for that. If they did, ok.

I was referring to their analysts seeing I had a Cap One, which they and Chase are said to not think highly of. A lot of us don't think highly of Cap One either for that matter.



Well, funny you mention that. Probably a coincidence, but recently Chase finally gave me an auto CLI of 1k (to bring it to 6k, 10 months after receiving it) to match what both Cap One (on my Buy Power card-congrats on getting that btw, and I work for Chevy, it's an awesome card!) and AMEX give me currently.

And I'm not the biggest fan of Cap One, at least outside of my GM card, because you can see my Quicksilver is in the SD, and I have had pissin contests to try and get a PC or higher limit twice in the past 10 months.
Portfolio:
CITI Diamond Preferred $7,000 [06-16]
AMEX Platinum (Charge) [11-16]
AMEX EDay $12,000 [11-14]
Lowes Store $15,000 [4-14]
CSP VISA $6,000 [7-14]
GM MC $9,000 [9-14]
AAdvantage Red MC $10,350 [10-14]
Discover IT $4,500 [03-15]
Chase Marriott VISA $5,000 [04-15]
Cap One Quick $2,600[4-10]

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lobbythis
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Re: Got the Buypower card

Postby lobbythis » Tue May 05, 2015 2:27 pm

MemberSince99 wrote:
lobbythis wrote:Why would Amex care?

Please tell me, from experience or some anecdotal evidence, why Amex would close your cards because you have a card with another lender.


As far as I know, they wouldn't close them for that. If they did, ok.

I was referring to their analysts seeing I had a Cap One, which they and Chase are said to not think highly of. A lot of us don't think highly of Cap One either for that matter.

But I never said they were going to see that and close the accounts. I am referring to looking down on my choice of card, which I got to thinking well if they do so what if it works for me.

You're reading WAY too much into that.


Per your original post, you implied that Amex is going to get mad because you have a card with a competitor...like they are going to AA you because you don't just have Amex cards and Amex cards only.

MemberSince99 wrote:I was referring to their analysts seeing I had a Cap One, which they and Chase are said to not think highly of.


Also, why the hell would a company love their competition? What company is going to be excited about other companies it wants to take customers from? Of course lenders don't like other lenders. That statement is utterly pointless and common sense.

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CarefulBuilder14
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Re: Got the Buypower card

Postby CarefulBuilder14 » Tue May 05, 2015 3:48 pm

lobbythis wrote:Also, why the hell would a company love their competition? What company is going to be excited about other companies it wants to take customers from? Of course lenders don't like other lenders. That statement is utterly pointless and common sense.

I don't think any lenders would turn their noses up at the sight of a 5-figure Capital One account with a few years of clean history. It's certainly better than a $2k Chase or Amex with a short history.

That said, I can understand that a lender would be a little concerned at seeing First Premier and/or Credit One, since it suggests some severe baddies may have been unjustly removed if the report is otherwise clean.

It may be hard to separate correlation and causation here. Capital One doesn't have any cards that appeal to many high spenders with great credit like Chase, Amex, and Citi do.

I suspect Capital One has fewer open "super-healthy" accounts (10+ years of history, $20k+ limits, PIF) than Chase or Amex do, but they have some. People with high spending and great credit may just get a card from Capital One because it's their local bank so is a convenient choice.

Of all the Capital One accounts an analyst sees on a report, probably a small number are "super-healthy". That may lead an analyst to think that Capital One accounts are less desirable.
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MemberSince99
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Re: Got the Buypower card

Postby MemberSince99 » Tue May 05, 2015 4:59 pm

lobbythis wrote:
MemberSince99 wrote:
lobbythis wrote:Why would Amex care?

Please tell me, from experience or some anecdotal evidence, why Amex would close your cards because you have a card with another lender.


As far as I know, they wouldn't close them for that. If they did, ok.

I was referring to their analysts seeing I had a Cap One, which they and Chase are said to not think highly of. A lot of us don't think highly of Cap One either for that matter.

But I never said they were going to see that and close the accounts. I am referring to looking down on my choice of card, which I got to thinking well if they do so what if it works for me.

You're reading WAY too much into that.


Per your original post, you implied that Amex is going to get mad because you have a card with a competitor...like they are going to AA you because you don't just have Amex cards and Amex cards only.

MemberSince99 wrote:I was referring to their analysts seeing I had a Cap One, which they and Chase are said to not think highly of.


Also, why the hell would a company love their competition? What company is going to be excited about other companies it wants to take customers from? Of course lenders don't like other lenders. That statement is utterly pointless and common sense.


I didn't imply they were going to get mad - I mean to imply they might look down on Cap One. I was NOT and am NOT trying to say they are going to AA me, close my accounts, or have me arrested and tortured as a terrorist, or accuse me of being the Antichrist.

Please stop reading dramatic things into a post that is just saying they tend to look down on Cap One and certain other lenders.

Loving their competition has nothing to do with my post. It's you that raised that point. You terrorist you.

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lobbythis
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Re: Got the Buypower card

Postby lobbythis » Tue May 05, 2015 5:13 pm

Ok, now you're just speculating and being prejudice. None of that is any hard proof.

Because someone chose CapOne, that means their credit sucks or they are financially irresponsible? Ridiculous, especially when CapOne can give huge limits. On top of that, your rewards are available as soon as a charge clears and all CLI's can be had with SP. Some people like that, including myself.

I have a QS and a Venture, both with 5-figure limits. I also have Chase, Amex, Barclays, USAA and BOA. Not one has denied me CLI's or done AA and certainly not said "OMFG, you need to get rid of those CapOne cards! We don't trust you now."



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