Do NOT apply for a Capital One credit card!
Registered User
Joined: Nov 2002
Posts: 1,774
Likes: 1
From: Socal
Interesting.
I recently received a platinum card from american express. They do the same thing. The car has no limit, so whatever your highest total on the card was in the last 18 months, thats your limit on your report. Run up a big balance, pay it off, and then you have the "equity" to improve your score.
I recently received a platinum card from american express. They do the same thing. The car has no limit, so whatever your highest total on the card was in the last 18 months, thats your limit on your report. Run up a big balance, pay it off, and then you have the "equity" to improve your score.
Registered User
Joined: Jul 2003
Posts: 13,115
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From: Devil's Island
I have Capital One for my CC. They have been nothing but a hassle from day one. Raising the interest rate almost 10% even though I have never been late on a payment?!? WTF?!? Then when I call and complain they hassle me like it's my problem?!?
SCREW CAPITAL ONE AND THE HORSE THEY RODE IN ON!!! What's in my wallet? Nuttin, they drained me with thier high interest rate!!!
SCREW CAPITAL ONE AND THE HORSE THEY RODE IN ON!!! What's in my wallet? Nuttin, they drained me with thier high interest rate!!!
Registered User
Joined: Jun 2001
Posts: 2,846
Likes: 1
From: richmond
this is all so sad to hear. Capital One is our areas top employer. Pretty much 1 out of 4 people work for capital one here.
They use to be a great place to work for, (i do not work for them) but from what i have been hearing, they start axing the older folks who earn more, and start hiring more of the younger crowd so they can pay them less. Since they can't fire them because of their age, they write less than stellar performance reviews.
They had an article in the newspaper where one person, around 45 was promoted a month prior to having a terrible review written about them.
a class action suit is in the works i believe. Capital One sucks, but i have to love them cause they keep Richmond employed.
They use to be a great place to work for, (i do not work for them) but from what i have been hearing, they start axing the older folks who earn more, and start hiring more of the younger crowd so they can pay them less. Since they can't fire them because of their age, they write less than stellar performance reviews.
They had an article in the newspaper where one person, around 45 was promoted a month prior to having a terrible review written about them.
a class action suit is in the works i believe. Capital One sucks, but i have to love them cause they keep Richmond employed.
Joined: Apr 2004
Posts: 2,897
Likes: 1
From: Cherry Hill, NJ
Originally Posted by Junk_Turbo420A,Aug 25 2004, 10:14 PM
For example I have had a Discover Card for a very long time. I always pay my balances within 2-3 months. I'm one of those that once I put a certain amount on a card I will take it out of my wallet and not put it back till the balance is paid in full. Well I noticed that after a short time of paying large amounts or paying off completely my APR went up to 19.9%. I stop using the card. Well I was about to cancel it last week. They asked my why? I told them flat out you guys charge too much for me paying on time and in a short time. Two seconds later they lower it to 0% for transfers with 0% transfer fees and 0% on purchases for the next 6 months. I ask why just 6 months. She says that's their policy YOU have to call to check new promotions to customers. These are based on your activities and if you don't do anything then the automatic go up to the highest possible rate... 
My point is we have to look out for #1 and not expect anything from CC companies. 
My point is we have to look out for #1 and not expect anything from CC companies. Of course, your new purchases are at a higher interest rate, and your payments are applied to the 0% transfers first, so those purchases will rack up interest for quite a while.
The only card that had a true 0% rate on balance transfers with no gimmicks was AMEX Blue.
Registered User
Joined: May 2004
Posts: 5,094
Likes: 6
From: Vienna, VA
I have a Best Buy card. Even though run by Household, it is a pretty good card, really. They apply payments to any promotion about to expire (costing retroactive interest) first. I bought my $1800 TV with 0% for 18 months. Interest accrues, but if you pay it off on time, you don't owe it (but if you don't, you do).
It's not the best card for people who don't understand credit, but it is a great purchasing tool for me.
It's not the best card for people who don't understand credit, but it is a great purchasing tool for me.
Registered User
Joined: Apr 2004
Posts: 316
Likes: 0
From: Fort Walton Beach
I have a capitol one card... that i don't use hardly anymore... but i still get credit card offers all the time from big name companies... with gooooooood deals.
I just don't need 12 credit cards
I just don't need 12 credit cards
Registered User
Joined: Oct 2000
Posts: 2,108
Likes: 0
From: Seattle, WA
That's weird, I have a capitol one card, and my credit limits DO show up on my credit report...wtf? Maybe it's only one or two of the three credit reporting agencies that displays this properly for capitol one?
Joined: Apr 2002
Posts: 820
Likes: 0
From: SF Bay Area
Many years ago when my credit rating was pretty poor, I got one of those $500 capital one cards. Now it's eight or so year later, my credit rating is stellar, and I don't know what to do with this card. Credit rating is based in part on the length of your credit history and I don't want to junk a $500 card that I have a long history with. On the other hand, I've found CO to be scum across the board, and I don't seem to be able to upgrade the card's limit to anything particularly useful.
So I've just stopped using it, and think I'll toss it in a year once some of my other cards start hitting the 3-4 year mark.
So I've just stopped using it, and think I'll toss it in a year once some of my other cards start hitting the 3-4 year mark.