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Capital One vs. Chase results to my application.

F

Ferocious

Diamond Member
I have excellent credit with a FICO score of around 800. (though it may have dropped a bit during the last week.)

Six days ago:

1) I applied first for Capital One's best Platinum card online.

It's 30 second response thingy came back negative and instead offered me some really expensive lame alternative....a standard credit card with high interest and high annual fee. I quickly rejected it.

2) A half hour later (still six days ago) I applied for Chase's best Platinum card online which did not have any instant response.
A few minutes ago I took it out of the envelope that just arrived in the mail.

 
I have average credit, no late payments or derogs on my credit report and Capital One gave me a $500 cc.

LOL I got a good laugh out of it.
 
Yeah, I laugh at the Capital One commercials on TV.

You KNOW no one get's the rates they advertise.

I have a score in the high 700s, own my home and my own business and make good money. And they offered me a card with an APR in the high teens.

What a scam. It's the ultimate bait-n-switch.
 
Amused - LOL their commercials are so cheesy and their cards are a total scam.

Capital One is suck. Stick with Amex, Chase, MBNA, First USA, CitiBank, Bank of America, etc.
 
Originally posted by: RossMAN
Amused - LOL their commercials are so cheesy and their cards are a total scam.

Capital One is suck. Stick with Amex, Chase, MBNA, First USA, CitiBank, Bank of America, etc.
Click to expand...

Yeah, my fav is National City. I've got a great Visa Platinum with them that has no limit, and a 7.9% rate. I know that's not the lowest, but it's nice to have a card where I do my personal and business banking.

First USA Mastercard just got canceled. They raised my rate to 15% (was 8.9%) while the card was in good standing with a very low balance.
 
haha had to laugh also all my CC have a credit limit over 10k and captial one gave me $300 limit. Plus you have to pay a yearly fee of $60. Hmm $60 fee with a $300 limit. Crackheads.
 
Originally posted by: chin311
thats weird

i thought capital one of all would hook you up...
Click to expand...

the only people who get capital one's best card are people that capital one solicits by mail. it even says that on the ad, the first line of fine print at the end. they advertise the card in order to get people to apply, so they can deny and offer a different card instead. the ol' bait n' switch.
 
I've had a Capital One card since high school. It was my first credit card, and I believe had a $500 or $1000 limit at the time. It was something like a 19.9% APR but that didn't matter since I was paying it off every month. Since then I've gotten better cards (Chase, Bank of America) with better limits ($3000 each) and interest rates (7.9%).

So a Capital One card is good for starting off, but its utility diminishes as your credit grows. I'm thinking about closing the account.
 
Originally posted by: RossMAN
I have average credit, no late payments or derogs on my credit report and Capital One gave me a $500 cc.

LOL I got a good laugh out of it.
Click to expand...

LOL They gave me a Platinum card with a $1000 limit. :Q😛

What's with all this hatred of Capital One? They sent me an offer for a Platinum Visa at like 8-9% APR (fixed). It was the best offer I had ever received so I applied and they approved me with a $1000 limit. No bait and switch or anything like that. It's better than my Bank of America Visa which as a 2% higher APR and is a "Visa Classic" (no extended warranty, etc.) though the BOA card has a much higher limit.
 
In the consumer finance industry, Cap One is what is known as "sub-prime." That means that they cater their products to people with less than perfect credit and/or other issues. While expensive to service (servicing is the industry term for payment collection), sub-prime can be very profitable when underwritten and marketed properly. Cap One's current marketing scheme, while cheesy and exactly the opposite of what their real products are, is pure gold btw.

metalmania hit the nail on the head.
 
Originally posted by: MWink
Originally posted by: RossMAN
I have average credit, no late payments or derogs on my credit report and Capital One gave me a $500 cc.

LOL I got a good laugh out of it.
Click to expand...

LOL They gave me a Platinum card with a $1000 limit. :Q😛

What's with all this hatred of Capital One? They sent me an offer for a Platinum Visa at like 8-9% APR (fixed). It was the best offer I had ever received so I applied and they approved me with a $1000 limit. No bait and switch or anything like that. It's better than my Bank of America Visa which as a 2% higher APR and is a "Visa Classic" (no extended warranty, etc.) though the BOA card has a much higher limit.
Click to expand...

I also got a Visa from them with a $1000 limit. The % for APR is not bad but hardly use it.
 
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