Capital One Credit Card After Charge Off (cont'd.)
Guest: stilltrying
Post subject: Capital One Credit Card After Charge Off
Posted: Mon Mar 13, 2006 10:18 pm
I've read a lot of stories on other credit boards of how terribly Capital One has treated other people. And yet in Tom's case and in my own, somewhere in that company there must still be some decent people left. Apparently they typically pull credit reports from all three bureaus, so several years ago they surely must have known about the (at the time) fresh 60 and 90 day late payments on two credit cards plus the numerous collection accounts. And yet Capital One gave me a $5,000 credit line plus a 12.9% APR (which is now at ~ 10%APR). That basically is mainly what has made it possible for me to keep my head above water for the last several years. I don't mean that this negates the way that some people have been treated. I don't know why Capital One gives chances and opportunties to some but not to all. But for some people Capital One can be a good (rebuilding) card.
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Guest: maddybeagle
Credit Expert (100+ Posts)
Posted: Mon Mar 13, 2006 10:22 pm
Quote:
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)
I hate to read messages like this. People think closing an account is really sticking it to the man when they are just hurting themselves. Sock drawer the card and dont use it except once or twice a year to keep it active.
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Guest: TomfromCT
Posted: Mon Mar 13, 2006 10:46 pm
bullwinkle29 wrote:
what are your credit cores?? you cn apply for the amex blue if your scores are above 680.
713, 707 and 657
no amex anything for me anyways. they were two fo the cards i had when i went down. i had the optima card and the regular amex. optima took a hit
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Mar 14, 2006 1:27 am
I got two Cap1 cards in October 2002; CLs are $5,000 and $20,000--and there's never been an increase on them. They don't give increases requested by customers on the type of cards I have with them, and they've never offered an increase to me.
BUT I applied for a third card a few months ago and got it--with a $20,000 credit line. And I have an application "pre-approved" for a fourth sitting on my desk.
So why be angry with Cap1? It has a different marketing method than other banks, but simply because you're turned down for a CLI doesn't mean they won't give you more credit. Just respond to those pre-approved offers and see for yourself.
I've never had any trouble with Cap1 by the way and find its cards very useful--balance transfers without fee, plenty of purchase checks, etc.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
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: Tue Mar 14, 2006 1:50 am
Polonius wrote:
I got two Cap1 cards in October 2002; CLs are $5,000 and $20,000--and there's never been an increase on them. They don't give increases requested by customers on the type of cards I have with them, and they've never offered an increase to me.
BUT I applied for a third card a few months ago and got it--with a $20,000 credit line. And I have an application "pre-approved" for a fourth sitting on my desk.
So why be angry with Cap1? It has a different marketing method than other banks, but simply because you're turned down for a CLI doesn't mean they won't give you more credit. Just respond to those pre-approved offers and see for yourself.
I've never had any trouble with Cap1 by the way and find its cards very useful--balance transfers without fee, plenty of purchase checks, etc.
BT to the MAX for a month solves the no credit limit reported
Then PIF after the statement generates
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: BigDog
Posted: Tue Mar 14, 2006 2:11 am
I have 3 cards with cap one and my oldest card is 10 years old. I started with a $500.00 limit and after 10 years my limit is - are you ready for this - drum role please - Bam - $1,800.00 after ten years. They don't give out credit line increases that I know of. You can apply for another card and then combine them, but from what I remember they hit all 3 reports.
IF ANYONE KNOWS HOW TO GO ABOUT GETTING AN INCREASE IN YOUR LINE WITH CAP ONE - PLEASE POST IT HERE - I would love to know.
For about the first 4 years of having this card I would max it out to $500.00 every month and pay the balance in full. I was sent an offer years ago stating that if I deposit $100.00 with them, I would get a $1,000 increase. So I went for it. Then by some miracle I got a $300 raise about 5 years ago. I never missed a payment with them in 10 years. Today I sock draw the cards and charge about 20 bucks a year on each one. I would get rid of the cards, but they are my oldest accounts. They gave me a card when no one else would 10 years ago. So, I take the good with the bad - If it was not for cap one - I would not have cards with over $20,000 limits today.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: stilltrying
Posted: Tue Mar 14, 2006 3:10 am
"IF ANYONE KNOWS HOW TO GO ABOUT GETTING AN INCREASE IN YOUR LINE WITH CAP ONE - PLEASE POST IT HERE"
According to what I've been told by Capital One, 2004 was the point when their policy changed on customers being able to call and request a credit limit increase. Prior to 2004, I had called on two occasions and received two $ 600 credit limit increases.
There are two possible ways currently to obtain a credit limit increase:
One way is to call the "Account Specialist" department. Sometimes when you call that department the person who answers identifies himself/herself as an "account manager". Unfortunately, these days the people in the general customer service department (and even in the balance transfer department) also call themselves "account managers"; so that's why it's worth knowing the other title of "account specialist" in order to get to the right person/department.
Here is a topic on this:
"Has anyone asked for and received a credit limit increase with Cap One ?"
http://creditboards.com/forums/index.php?showtopic=146186
Here is the phone number for this department: 800-889-9939 (The account specialists also have the authority to offer a lower interest rate).
The other way that people sometimes have sometimes been able to obtain a credit limit increase, decrease in the annual fee, and/or lower interest rate is by contacting the retention department. I don't have that number on me. Maybe you'll be able to find it by searching at creditboards.
Now then, you'll notice as you read through that creditboards thread up above that some people after calling the account specialist phone number were turned down for a credit limit increase.
The highest-level at Capital One is the "Executive Office" (the phone number and further information on this can be found at creditboards). Not even the executive office has the ability to offer a credit limit increase. I found this out after a long talk with someone there. It was explained to me that decisions on credit limit increases come solely from the "Credit Management Department" -- a department that can neither place calls out nor receive incoming calls. (Also, no one at any Capital One department with whom I've talked apparently (and I believed that they were being honest and forthcoming) has any knowledge of what the criteria is for credit limit increases inside that "Credit Management Department".)
So how is that some people have been able to obtain a credit limit increase through an account specialist ? Well, my theory is that after this "credit management department" has reviewed your account and determined that it is elegible for a credit limit increase, then perhaps the account is flagged and the account specialist has the authority to offer the increase. But that's just a guess.
Here is something else that I found out the hard way. When i had called the account specialist department last summer, I was told that I had my choice of either a lower interest rate or a $750 credit limit increase. Whatever I chose, I could call (I was told) 3 months later and ask for the other offer. Well, 3 months later I found out that it does not work that way -- that is, 3 months later for whatever inexplicable reason the $750 credit limit increase offer was no longer available to me even though there wasn't anything about me credit-wise that had changed for the worse.
Here is another example of how mysterious and unfathomable Capital One is about credit limit increases:
"Cap One CLI Offer...help me decide!, Is this a good move?"
http://creditboards.com/forums/index.php?showtopic=139154
Read through that thread; It's interesting. Why that particular group of people were eligible neither I nor they know.
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 10:18 pm
I've read a lot of stories on other credit boards of how terribly Capital One has treated other people. And yet in Tom's case and in my own, somewhere in that company there must still be some decent people left. Apparently they typically pull credit reports from all three bureaus, so several years ago they surely must have known about the (at the time) fresh 60 and 90 day late payments on two credit cards plus the numerous collection accounts. And yet Capital One gave me a $5,000 credit line plus a 12.9% APR (which is now at ~ 10%APR). That basically is mainly what has made it possible for me to keep my head above water for the last several years. I don't mean that this negates the way that some people have been treated. I don't know why Capital One gives chances and opportunties to some but not to all. But for some people Capital One can be a good (rebuilding) card.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: maddybeagle
Credit Expert (100+ Posts)
Posted: Mon Mar 13, 2006 10:22 pm
Quote:
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)
I hate to read messages like this. People think closing an account is really sticking it to the man when they are just hurting themselves. Sock drawer the card and dont use it except once or twice a year to keep it active.
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 10:46 pm
bullwinkle29 wrote:
what are your credit cores?? you cn apply for the amex blue if your scores are above 680.
713, 707 and 657
no amex anything for me anyways. they were two fo the cards i had when i went down. i had the optima card and the regular amex. optima took a hit
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Mar 14, 2006 1:27 am
I got two Cap1 cards in October 2002; CLs are $5,000 and $20,000--and there's never been an increase on them. They don't give increases requested by customers on the type of cards I have with them, and they've never offered an increase to me.
BUT I applied for a third card a few months ago and got it--with a $20,000 credit line. And I have an application "pre-approved" for a fourth sitting on my desk.
So why be angry with Cap1? It has a different marketing method than other banks, but simply because you're turned down for a CLI doesn't mean they won't give you more credit. Just respond to those pre-approved offers and see for yourself.
I've never had any trouble with Cap1 by the way and find its cards very useful--balance transfers without fee, plenty of purchase checks, etc.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
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: Tue Mar 14, 2006 1:50 am
Polonius wrote:
I got two Cap1 cards in October 2002; CLs are $5,000 and $20,000--and there's never been an increase on them. They don't give increases requested by customers on the type of cards I have with them, and they've never offered an increase to me.
BUT I applied for a third card a few months ago and got it--with a $20,000 credit line. And I have an application "pre-approved" for a fourth sitting on my desk.
So why be angry with Cap1? It has a different marketing method than other banks, but simply because you're turned down for a CLI doesn't mean they won't give you more credit. Just respond to those pre-approved offers and see for yourself.
I've never had any trouble with Cap1 by the way and find its cards very useful--balance transfers without fee, plenty of purchase checks, etc.
BT to the MAX for a month solves the no credit limit reported
Then PIF after the statement generates
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: BigDog
Posted: Tue Mar 14, 2006 2:11 am
I have 3 cards with cap one and my oldest card is 10 years old. I started with a $500.00 limit and after 10 years my limit is - are you ready for this - drum role please - Bam - $1,800.00 after ten years. They don't give out credit line increases that I know of. You can apply for another card and then combine them, but from what I remember they hit all 3 reports.
IF ANYONE KNOWS HOW TO GO ABOUT GETTING AN INCREASE IN YOUR LINE WITH CAP ONE - PLEASE POST IT HERE - I would love to know.
For about the first 4 years of having this card I would max it out to $500.00 every month and pay the balance in full. I was sent an offer years ago stating that if I deposit $100.00 with them, I would get a $1,000 increase. So I went for it. Then by some miracle I got a $300 raise about 5 years ago. I never missed a payment with them in 10 years. Today I sock draw the cards and charge about 20 bucks a year on each one. I would get rid of the cards, but they are my oldest accounts. They gave me a card when no one else would 10 years ago. So, I take the good with the bad - If it was not for cap one - I would not have cards with over $20,000 limits today.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: stilltrying
Posted: Tue Mar 14, 2006 3:10 am
"IF ANYONE KNOWS HOW TO GO ABOUT GETTING AN INCREASE IN YOUR LINE WITH CAP ONE - PLEASE POST IT HERE"
According to what I've been told by Capital One, 2004 was the point when their policy changed on customers being able to call and request a credit limit increase. Prior to 2004, I had called on two occasions and received two $ 600 credit limit increases.
There are two possible ways currently to obtain a credit limit increase:
One way is to call the "Account Specialist" department. Sometimes when you call that department the person who answers identifies himself/herself as an "account manager". Unfortunately, these days the people in the general customer service department (and even in the balance transfer department) also call themselves "account managers"; so that's why it's worth knowing the other title of "account specialist" in order to get to the right person/department.
Here is a topic on this:
"Has anyone asked for and received a credit limit increase with Cap One ?"
http://creditboards.com/forums/index.php?showtopic=146186
Here is the phone number for this department: 800-889-9939 (The account specialists also have the authority to offer a lower interest rate).
The other way that people sometimes have sometimes been able to obtain a credit limit increase, decrease in the annual fee, and/or lower interest rate is by contacting the retention department. I don't have that number on me. Maybe you'll be able to find it by searching at creditboards.
Now then, you'll notice as you read through that creditboards thread up above that some people after calling the account specialist phone number were turned down for a credit limit increase.
The highest-level at Capital One is the "Executive Office" (the phone number and further information on this can be found at creditboards). Not even the executive office has the ability to offer a credit limit increase. I found this out after a long talk with someone there. It was explained to me that decisions on credit limit increases come solely from the "Credit Management Department" -- a department that can neither place calls out nor receive incoming calls. (Also, no one at any Capital One department with whom I've talked apparently (and I believed that they were being honest and forthcoming) has any knowledge of what the criteria is for credit limit increases inside that "Credit Management Department".)
So how is that some people have been able to obtain a credit limit increase through an account specialist ? Well, my theory is that after this "credit management department" has reviewed your account and determined that it is elegible for a credit limit increase, then perhaps the account is flagged and the account specialist has the authority to offer the increase. But that's just a guess.
Here is something else that I found out the hard way. When i had called the account specialist department last summer, I was told that I had my choice of either a lower interest rate or a $750 credit limit increase. Whatever I chose, I could call (I was told) 3 months later and ask for the other offer. Well, 3 months later I found out that it does not work that way -- that is, 3 months later for whatever inexplicable reason the $750 credit limit increase offer was no longer available to me even though there wasn't anything about me credit-wise that had changed for the worse.
Here is another example of how mysterious and unfathomable Capital One is about credit limit increases:
"Cap One CLI Offer...help me decide!, Is this a good move?"
http://creditboards.com/forums/index.php?showtopic=139154
Read through that thread; It's interesting. Why that particular group of people were eligible neither I nor they know.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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