I applied for a card that was 9.9% interest and no annual fee. I could really care less about interest because I pay off my cards each month. Well I was approved for the card and it was mailed to me. Capital One decided to a pull a bait-and-switch and gave me a gold card with 19.9% APR and a 59 annual fee. Umm... that is not the card I applied for, nor do I want it. I called and had my account closed out immediately. I already have cards with no annual fee that I pay off each month. The only reason I wanted this card was to add to my credit history. bleh. Screw Capital One. I guess I will take the Chase Manhattan card instead.
Screw Capital One
- Thread starter Mill
- Start date
You probably weren't approved, but pre-approved which allows them to give you a different card if you don't meet their guidelines. It's all in the fine print...
But see they had an opt out box on the form. It said that if I checked the box it would only apply for the Platinum only. I was suprised that they had an opt out now. I canceled the card and didn't have to pay anything. It made me mad because I checked the opt out box.
I can't tell if you are asking or being sarcastic... but I will answer. LOL\
I have my Southtrust Visa Card, my Houshold Bank/Best Buy Card, and my Texaco card.
If you read the fine print, they reserve the right to do this. Most companies actualy do this, but they are more up front about it and the details for each card are published. No details of the Capital One "Gold" card were disclosed though, so I suspected a low limit and high fee. It's the reason I looked elsewhere.
Every time you apply for or get a credit card it is recorded in the major credit bureaus. And it counts against you not for you. When I found that out I reduced my cards to two: American Airlines/Citibank is my main card and accumulates AA mileage, and another card that I use once a year as a backup.
Part of what you said is true. The more inquries you have, the more your rating goes down. It is actually a good thing to have more than two cards. You score actually goes down with two or less cards. The opitimum ranges from 3-6 IIRC.
Yeah, I hate CapitalOne too. When I first got the card, there was a $59 annual fee; after seeing a thread on AT letting me know that if I call and tell them I want the annual fee reduced, they will do that. So I did and the fee decreased to $30; third year now, and out of nowhere, they just charged me $59 again. Dumbasses :| *sigh*...I guess I have to call them again.
RossMAN
Grand Nagus
- Feb 24, 2000
- 78,866
- 366
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In my professional and personal experience it's best to have 3 open credit cards which you have had for at least 2-3 years, pref one would carry a small balance the other 2 will have zero balances ... that is as close to perfection as possible. It shows that you're using your credit responsibly.
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