TylerDurden Posted December 23, 2004 Report Share Posted December 23, 2004 I know many of you here don't like Cap One. I actually stopped using the cards a couple of years ago because I've heard a lot of people got burned by them and I don't think they deserve my business. Well, I received a letter yesterday, and they just automatically converted my card to a "Go Miles" card, with 10,000 miles to start with. I've been wanting a miles reward card for a while, ever since I cancelled my Amex green rewards card (now, that's a crappy card ). I'm still cautious of Cap One, but if I'm going to use a card now, might as well use a card that will build airline mileage for me. Anyone got similar offer from Cap One? Link to comment Share on other sites More sharing options...
Guest jeeptravel Posted December 23, 2004 Report Share Posted December 23, 2004 I use CAP 1, but if I could get a better offer I'd take it. Link to comment Share on other sites More sharing options...
hawk3254 Posted December 28, 2004 Report Share Posted December 28, 2004 well, I had a great experience with them last week. Did the whole blank check thing, got aproved for $50k, went to the dealership, bouight what I wanted, wrote the check, and all done. No hassels. got what I wanted, in and out in 2 hours 30 mins. Funny thing is one dealership wanted to run my creedit saying they need "back up finanacing" just in case it falls through. i said no thanks. They lost a sale because of that. I understand some dealersips may not like capita one, but funny thing is this dealership des lots of promos with them and has them on hand at the events. Link to comment Share on other sites More sharing options...
nativechild48 Posted January 4, 2005 Report Share Posted January 4, 2005 Tyler, I would trust Capital One much better than the deceptive Providian anytime!! Link to comment Share on other sites More sharing options...
kissinger99 Posted January 14, 2005 Report Share Posted January 14, 2005 I have had nothing but good experiences with both AE and Providian. Gotta love the free monthly fico score from Providian! Link to comment Share on other sites More sharing options...
credithelp Posted January 16, 2005 Report Share Posted January 16, 2005 Capital one is much more trustworthy. Link to comment Share on other sites More sharing options...
MortgageLO Posted January 19, 2005 Report Share Posted January 19, 2005 Capital One sucks big donky balls. They are HARMING your credit score. They have a policy to never report credit limits, so your card always looks like it has a higher "percentage revolving." This severely depresses FICO scores for most people. This bogus policy has gotten some national press lately but it is still rarely known, even by people in the subprime mortgage field such as myself. Stay away for ALL CrapOne products. You are much better off getting a small secured card from a mainstream bank and using it responsibly. My number one lesson for this board...KEEP YOUR BALANCES LOW! This is a HUGE factor in FICO scoring and cannot be overemphasized. Link to comment Share on other sites More sharing options...
sjsharks Posted January 19, 2005 Report Share Posted January 19, 2005 (edited) Capital 1 sucks. More trustworthy?????Sorry, I don't get it.Witholding your credit line to intentionally keep other creditors from offering a higher credit line product is corrupted.Credit line? OK lets compare the credit limits cap1 hands out versus the industry. Hmmmm.....yeah, thats what I thought.Providian has at least changed for the better, while cap1 has sucked consistently.________easy vape vaporizer Edited February 3, 2011 by sjsharks Link to comment Share on other sites More sharing options...
MortgageLO Posted January 19, 2005 Report Share Posted January 19, 2005 Yeah, this is the only company that will give you 5 cards with $500 limits rather than one card with a $2,500 limit! They know that the real money is in late fees and ooverlimit fees, this is why they like to give lots of accounts with small credit limits! Link to comment Share on other sites More sharing options...
buildtothesky Posted January 19, 2005 Report Share Posted January 19, 2005 Yeah, this is the only company that will give you 5 cards with $500 limits rather than one card with a $2,500 limit! They know that the real money is in late fees and ooverlimit fees, this is why they like to give lots of accounts with small credit limits!I agrree,,I hate to say it but I got lured into to accepting 3 crap one cards,,first one for measly $400 and when that one capped out I got preapproved offers for 2 additional cards just like clockwork both only $300,,so being the desperate credit rebuilder that I am took it but they know they will get there money back time and time again on all the fees,,but at least its better than nothing,,one day I will dump them as the credit comes up. Link to comment Share on other sites More sharing options...
DocDon Posted January 19, 2005 Report Share Posted January 19, 2005 That's what Cap1 is for. It's never been suggested as anything else. I had 2 Cap1 accounts that I used in the rebuild process, and dumped them when I moved to the next tier cards.In that process, the balances were almost nil (used the card for some gas an incidentals), and sucked up paying the $6 per month service charge because I felt $6 a month was worth building my credit picture until I reached the 36 month point.A possible cure for this issue is to charge the card up to almost it's limit (this will become the limit reported) and pay it down after it reports. This of course, is not a good idea if you don't have the funds available to do this. Link to comment Share on other sites More sharing options...
buildtothesky Posted January 19, 2005 Report Share Posted January 19, 2005 That's what Cap1 is for. It's never been suggested as anything else. I had 2 Cap1 accounts that I used in the rebuild process, and dumped them when I moved to the next tier cards.In that process, the balances were almost nil (used the card for some gas an incidentals), and sucked up paying the $6 per month service charge because I felt $6 a month was worth building my credit picture until I reached the 36 month point.A possible cure for this issue is to charge the card up to almost it's limit (this will become the limit reported) and pay it down after it reports. This of course, is not a good idea if you don't have the funds available to do this. I was told by a Cap one rep that I could pay the 3 balances and combine the three cards to have a larger limit on one card,,but that would seem pointless as 3 separate accounts would fair better on your report if they are up to date,,am I correct? or would one be better? Link to comment Share on other sites More sharing options...
DocDon Posted January 19, 2005 Report Share Posted January 19, 2005 FICO likes to see a "well rounded" credit picture. A balance of installment, revolving, and mortgage accounts. Of those, it likes to see about 2-3 revolving accounts. So while it may be good in some aspects, it may not be if just starting the rebuild process. Link to comment Share on other sites More sharing options...
bigdaddyroy Posted January 19, 2005 Report Share Posted January 19, 2005 FYI,http://www.cap1sucks.com/ Link to comment Share on other sites More sharing options...
credithelp Posted January 20, 2005 Report Share Posted January 20, 2005 They definitely have their drawbacks but i would trust them over providian any day just from my experience with both companies. The way they report does suck though. Link to comment Share on other sites More sharing options...
Tortuga Posted January 31, 2005 Report Share Posted January 31, 2005 Just out of curiosity, I wonder if anyone has tried disputing this with the CRAs? Seems like you could say the omission was inaccurate and send a copy of a statement with the credit limit on it. Just wondering how Cap1 would respond to that. I would try this suggestion myself but I don't use them. Link to comment Share on other sites More sharing options...
Jazz4Cash Posted February 5, 2005 Report Share Posted February 5, 2005 I constantly get offers from Cap1 for credit cards and fixed rate/term installment loans. The cards have decent rates, but I have not paid much attention to the limits. The fixed rate loans have VERY attractive rates.......I am kicking myself for not taking loan offer of 25k for 5 yrs @6.9 FIXED that expired in december....In a few weeks I'll get another offer, but it'll probably be around 7.5-7.9.If I'm getting all these offers from Cap 1 does it mean my profile is subprime? Link to comment Share on other sites More sharing options...
Tourniquet416 Posted February 5, 2005 Report Share Posted February 5, 2005 i got offers from Crap1 for years, and then when i finally applied, i got turned down. the bastards. Link to comment Share on other sites More sharing options...
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