Capital One Credit Card After Charge Off
Guest: TomfromCT
Post subject: Capital One Credit Card After Charge Off
Posted: Mon Mar 13, 2006 5:33 pm
Well...... Cap One actually did me ok.
I had a charged-off account with Cap One. They offered to transfer the debt to a new card a temporary 0% APR on that balance...9.9 on any purchases for a year. The credit limit was 0 and the balance on the card, listed as a special purchase, was $1500. I had to earn the credit limit with $25 increments for each $100 paid on the card, so the more of the balance I paid off, the more my credit limit would increase. However, once it hit the $700 credit limit that was it. No increases. Well I made my payments on time, if not early and paid more than the minimum and they gave me a 10% forgiveness of debt reward so they took $150 off the balance after 6 months, which was great and allowed me to pay it off faster.
A year and a half after i got the card they transferred the account to a differant type and I was able to do BT's and get checks.
Another year later and they made it a platinum card. So now its been about 5 months Platinum.
I hope I start to get Limit increses as I'm still at 700.
Of all my creditors, They helped the most. I had made similiar offers to my other credit cards but they laughed at me as most had sold the debts already.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: hdporter
Credit Expert (100+ Posts)
Posted: Mon Mar 13, 2006 6:21 pm
Beautiful story, Tom! It's thoroughly impressive that, before employing hard ball tactics, Capital One offered you a thoroughly constructive approach through which you could make good on the debt and restore your account to good standing. That's quite a turn around from long standing reports of abusive debt collection behavior on their part.
Of course, even more impressive is that you took the initiative to take advantage of the opportunity and stuck to your guns in satisfying their requirements.
This is a real win-win story that has done much to raise C1 in my esteem. Congrats!
- Harry
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Posted: Mon Mar 13, 2006 7:16 pm
hdporter wrote:
This is a real win-win story that has done much to raise C1 in my esteem. Congrats!
- Harry
It really was a win-win. If only my other creditors would have done it. My hard times lasted about 6 months. But becasue they all came after me so viciously the ordeal lasted YEARS. Depression, bad thoughts, lost friends, loneliness and the continued stigma of my poor credit because of that 6 months stretch.
Of course its not their fault I didn't plan well enough for rainy days but they cost themselves by being so rigid. It is their fault for being happy to put people into debt and turn us into indentured servants for as long as possible.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Posted: Mon Mar 13, 2006 9:01 pm
WHY DOES ANYONE DO BUSINESS W/CAP ONE? THEY A JOKE!!!!!!!!
my wife had them for many years, her credit scores are in the mid 700's, to be exact, 770,768, 761. they would not raise her CL. her limit was 7500. she opened a amex blue account. her line was $8600, she did a BT paid it off in full, they rasied her CL to 13,600.
so she calls cap one after she saw the bt was done. she tells cs to close the account. oh mam we can raise your line she said. my wife said, you had your chance, close the account. now we get 10 offers aweek from these people. so what i do, is shread the part w/our names, i send them my pizza hut coupons to them in there self-addresses envenlope, LOL at there cost. just remember to black out the bar code on the seal. (back side)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Posted: Mon Mar 13, 2006 9:14 pm
Bullwinkle,
Thats funny about the pizza hut coupons. I have heard that complaint about Cap 1 before. I'd be happy if my 700 limit turns into 3-5 k I dont need big limits on all my cards. *****, I dont even use my cards other than for convienence and to build my credit back up.
BTW: Pizza Hut is the best pizza on EARTH!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Posted: Mon Mar 13, 2006 9:18 pm
TomfromCT wrote:
Bullwinkle,
Thats funny about the pizza hut coupons. I have heard that complaint about Cap 1 before. I'd be happy if my 700 limit turns into 3-5 k I dont need big limits on all my cards. *****, I dont even use my cards other than for convienence and to build my credit back up.
BTW: Pizza Hut is the best pizza on EARTH!
what are your credit cores?? you cn apply for the amex blue if your scores are above 680.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Mar 13, 2006 9:29 pm
bullwinkle29 wrote:
WHY DOES ANYONE DO BUSINESS W/CAP ONE? THEY A JOKE!!!!!!!!
my wife had them for many years, her credit scores are in the mid 700's, to be exact, 770,768, 761. they would not raise her CL. her limit was 7500. she opened a amex blue account. her line was $8600, she did a BT paid it off in full, they rasied her CL to 13,600.
so she calls cap one after she saw the bt was done. she tells cs to close the account. oh mam we can raise your line she said. my wife said, you had your chance, close the account. now we get 10 offers aweek from these people. so what i do, is shread the part w/our names, i send them my pizza hut coupons to them in there self-addresses envenlope, LOL at there cost. just remember to black out the bar code on the seal. (back side)
OVER $20,000 WITH CAPITAL ONE
But then I'm stupid
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullet875
Posted: Mon Mar 13, 2006 9:37 pm
the bank I have my mortgage through (North Fork). I hope that they don't screw it up!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Capital One Credit Card After Charge Off
Posted: Mon Mar 13, 2006 5:33 pm
Well...... Cap One actually did me ok.
I had a charged-off account with Cap One. They offered to transfer the debt to a new card a temporary 0% APR on that balance...9.9 on any purchases for a year. The credit limit was 0 and the balance on the card, listed as a special purchase, was $1500. I had to earn the credit limit with $25 increments for each $100 paid on the card, so the more of the balance I paid off, the more my credit limit would increase. However, once it hit the $700 credit limit that was it. No increases. Well I made my payments on time, if not early and paid more than the minimum and they gave me a 10% forgiveness of debt reward so they took $150 off the balance after 6 months, which was great and allowed me to pay it off faster.
A year and a half after i got the card they transferred the account to a differant type and I was able to do BT's and get checks.
Another year later and they made it a platinum card. So now its been about 5 months Platinum.
I hope I start to get Limit increses as I'm still at 700.
Of all my creditors, They helped the most. I had made similiar offers to my other credit cards but they laughed at me as most had sold the debts already.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: hdporter
Credit Expert (100+ Posts)
Posted: Mon Mar 13, 2006 6:21 pm
Beautiful story, Tom! It's thoroughly impressive that, before employing hard ball tactics, Capital One offered you a thoroughly constructive approach through which you could make good on the debt and restore your account to good standing. That's quite a turn around from long standing reports of abusive debt collection behavior on their part.
Of course, even more impressive is that you took the initiative to take advantage of the opportunity and stuck to your guns in satisfying their requirements.
This is a real win-win story that has done much to raise C1 in my esteem. Congrats!
- Harry
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Posted: Mon Mar 13, 2006 7:16 pm
hdporter wrote:
This is a real win-win story that has done much to raise C1 in my esteem. Congrats!
- Harry
It really was a win-win. If only my other creditors would have done it. My hard times lasted about 6 months. But becasue they all came after me so viciously the ordeal lasted YEARS. Depression, bad thoughts, lost friends, loneliness and the continued stigma of my poor credit because of that 6 months stretch.
Of course its not their fault I didn't plan well enough for rainy days but they cost themselves by being so rigid. It is their fault for being happy to put people into debt and turn us into indentured servants for as long as possible.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Posted: Mon Mar 13, 2006 9:01 pm
WHY DOES ANYONE DO BUSINESS W/CAP ONE? THEY A JOKE!!!!!!!!
my wife had them for many years, her credit scores are in the mid 700's, to be exact, 770,768, 761. they would not raise her CL. her limit was 7500. she opened a amex blue account. her line was $8600, she did a BT paid it off in full, they rasied her CL to 13,600.
so she calls cap one after she saw the bt was done. she tells cs to close the account. oh mam we can raise your line she said. my wife said, you had your chance, close the account. now we get 10 offers aweek from these people. so what i do, is shread the part w/our names, i send them my pizza hut coupons to them in there self-addresses envenlope, LOL at there cost. just remember to black out the bar code on the seal. (back side)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Posted: Mon Mar 13, 2006 9:14 pm
Bullwinkle,
Thats funny about the pizza hut coupons. I have heard that complaint about Cap 1 before. I'd be happy if my 700 limit turns into 3-5 k I dont need big limits on all my cards. *****, I dont even use my cards other than for convienence and to build my credit back up.
BTW: Pizza Hut is the best pizza on EARTH!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Posted: Mon Mar 13, 2006 9:18 pm
TomfromCT wrote:
Bullwinkle,
Thats funny about the pizza hut coupons. I have heard that complaint about Cap 1 before. I'd be happy if my 700 limit turns into 3-5 k I dont need big limits on all my cards. *****, I dont even use my cards other than for convienence and to build my credit back up.
BTW: Pizza Hut is the best pizza on EARTH!
what are your credit cores?? you cn apply for the amex blue if your scores are above 680.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Mar 13, 2006 9:29 pm
bullwinkle29 wrote:
WHY DOES ANYONE DO BUSINESS W/CAP ONE? THEY A JOKE!!!!!!!!
my wife had them for many years, her credit scores are in the mid 700's, to be exact, 770,768, 761. they would not raise her CL. her limit was 7500. she opened a amex blue account. her line was $8600, she did a BT paid it off in full, they rasied her CL to 13,600.
so she calls cap one after she saw the bt was done. she tells cs to close the account. oh mam we can raise your line she said. my wife said, you had your chance, close the account. now we get 10 offers aweek from these people. so what i do, is shread the part w/our names, i send them my pizza hut coupons to them in there self-addresses envenlope, LOL at there cost. just remember to black out the bar code on the seal. (back side)
OVER $20,000 WITH CAPITAL ONE
But then I'm stupid
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullet875
Posted: Mon Mar 13, 2006 9:37 pm
the bank I have my mortgage through (North Fork). I hope that they don't screw it up!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:00 PM
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