Why are so many people against Capital One?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Postby trumpet-205 » Wed Aug 22, 2012 4:00 pm

I love that Capital One being a very good lender for builing/rebuilding credit.

What I don't like about Capital One is that they do not grow with you (no PC and no CLI). Combine that with,

* Cheaply printed credit card.
* Still has yet to adopt EMV (what good is no FTF with no EMV?)
* Very poor CSR (background noise and reading everything from the script).

I closed my Capital One card couple weeks ago. It has served its purpose. I might go back if they improve their service quality.
In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)

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Postby rossmo » Wed Aug 22, 2012 9:51 pm

t528491 wrote:I dislike CapOne mainly due to their misleading offers. I could swear that when I signed up for the secured card, I was told that it would eventually graduate. Apparently that's not the case.

I don't think they're a horrible issuer, but there are much better options out there.

I was also told my CapOne secured card could graduate, but all I read online says that it never happens...
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747

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Postby xdunlapx » Sat Aug 25, 2012 8:01 pm

I just applied not long ago for the secured card and did not see anywhere in the information that it could graduate to a better card.
Capital One Secured Mastercard (9/2012) $226 limit

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Postby Money card » Sat Aug 25, 2012 8:32 pm

heres my problem with Capitol1 I also have the venture card, after my fight with Chase, I started looking around at banks, I stoped in at
1 of there branches and they told me that you have to have a checking account in order to open up a credit card.
they from time to time sent me applications in the mail. nobody in the branch tried to help me get a card that would be appropiate for me.
so they sent me a short form application I asked for a gold .
I feel that this is stupid your NOT getting a debit card your applying for a credit card why do you have to have a checking account, in order to apply for a credit card in the branches?

the other problem is in order to redem your miles on there travel cards you have to have all or none in other words theres no breaking up
using part of your miles and paying the rest, this you can't do. it's all or none.

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Postby Money card » Sat Aug 25, 2012 9:09 pm

[quote="LadyinRed"]I have a Capital One Venture Card and I love it.

How do you like the card? which level do you have the Blue or gold?
do you use your card for personal use or business?

as for me I like the card, I have the gold version I use it for personal use.

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Postby gkgk11 » Tue Aug 28, 2012 5:02 am

Apart from the no CL increase woes, I would have to say that the Venture and the Business Spark have very good reward structures so it is def. worth it for prime borrowers.

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Postby Jooxi » Sat Sep 01, 2012 9:10 pm

The bashing can get a little extreme. And yes, it is easy to bash a company that deals in sub-prime credit and is thus stricter and stingier in general.

My only problem, so far, with Capital One is as follows: They don't grow with you. I applied for a secured card with them not because I had bad credit, just no history. 9 months later, I have an auto loan and a $3,500 Citibank card, but I'm still stuck with a $275 limit on my Capital One.

In addition, I have since learned that many other secured card issuers graduate you to a regular card, or at the very least, give you the option to increase your limit after a set number of months with satisfactory payment.

What is difficult to understand is why Capital One would not encourage me by upgrading me to a regular credit card, or at the very least increasing my limit. And customer service always gives me the same answer - that they decide to grant increases "periodically".

Perhaps my opinion will change, but for now, I plan on giving other issuers my business. Capitol One is fine to start with and great for bad credit, but they are throwing away good customers with their inflexibility. Because they were my first card, it is hard for me to close the account. When people with limited history ask me, I do advise them to stay away from Capital One - not out of spite, and not because you can't use their products successfully, but because you cannot grow your credit profile with them.

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