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Capital One Conservative Credit Limit Increases and Non-Existent Credit Line Increases.
Posted by Discoverhater on 04/28/2006
MCLEAN, VIRGINIA -- I called Capital One to obtain a credit line increase on my Visa Platinum Card and Capital One would not grant the request. A friend of mine had attempted to get a credit line increase on his Capital One Visa because he travels for business and Capital One denied the request. He informed me so I called Capital One to see if they would increase my limit and they did not. I asked to speak with a manager to find out why Capital One could not increase my limit in consideration for my 10 years of patronage, on time payments and the fact I have not had a credit limit increase within the last 5 years.

Here is what Capital One said.

"You have an excellent history with us and have always paid on time. The decision is not based on information contained in your credit report. Capital One is very conservative with their credit limits and credit limit increases and Capital One has placed a freeze on any credit limit increases. When Capital One lifts the freeze, you will definitely be considered for a limit increase and they will send you a letter in the mail if they increase your limit. I'm sorry I can't help you at this time with a credit limit increase but I can offer you a 0% balance transfer offer." I declined the balance transfer. The purpose of the call was to get my limit increased and see what Capital One would tell me. I have read posts elsewhere where Capital One accountholders have been denied credit line increases even though they have perfect credit. I wanted to find the underlying cause of Capital One's credit limit policy so I can inform everyone as to why Capital One will/does not increase credit limits.

Any other Capital One accountholders had this same experience and/or been told what Capital One told me?

     
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Posted by KenPC on 2006-04-28:
This sounds like a *very* reasonable response from Capital One.
Posted by Hugh_Jorgen on 2006-04-28:
My guess is they are familiar with your "work" on this forum and they just want you to pay off what you already owe and just fade away before you come up with some real or imagined slight they have done and you become "CapitalOneHater".
Posted by Anonymous on 2006-04-28:
http://phx.corporate-ir.net/phoenix.zhtml?c=70667&p=irol-presentations Investor type info but it does reflect the direction capital one is trying to go.
Posted by yoke on 2006-04-28:
To bad more credit card companies don't follow suit with CapitalOne. They sound like they are trying to protect the consumer from going in debt.
Posted by JEANNIE_R on 2006-04-30:
The method for getting a credit increase is thus:
Add your teenage son to the account (so he can make travel reservations to cross country without Mom). Expect the pre-arranged maximum limits on credit to fail misserably. Wait for the un-anticipated fallout... and Poof! The credit limit will actually climb to the ceiling, based upon every over-the-limit amount your child presents for payment. That's what I call "service with a smile". Then, do your best to get said child's name back off of the card, to not avail. Close the account, or prepare your next budget with these non-constraints in mind.

jeannie
Posted by myangels7 on 2006-07-10:
Dear Discoverhater,
I have been with Capital One for 7 yrs. After waiting 4 yrs. I asked for an increase in credit limit and received a $100.00 increase. Then 3 yrs. later I asked for a $500.00 increase and was given only $100.00 increase. On my second request I received an email reply that Capital One will not give increases on request. However the following month I received it. I found out by opening my statement. I never heard anything before discovering it in my statement. It was Not the amount I requested though. I am very disheartened by their 'penny and nickel'raises.
I need some reassurance that they have more trust in me than that, especially since I pay my balance in full every month. My initial credit limit was $350.00 and is now only $550.00. I do not ever want a credit card with a $5000.00 credit limit because I would just spend too much. I only wanted a credit card with a $1000.00 limit. I am almost afraid to apply to another credit card company in fear they will offer a credit limit that I can't afford to pay off each month. I hate the idea of paying them interest. Now I hear Capital One does not reveal our credit limits to the credit reporting agencies, only our balance due which makes their customers look like a bunch of bums. I hope that is not the case. I am writing the CEO a letter asking him to expain himself. Sounds 'Enronish' to me. If it is true I am looking for another credit card company to do my devoted business with.
Posted by jmayer_metoo on 2006-12-05:
Wow, the exact thing just happened to me.
10 years with them, no lates, almost max it and pay off my total balance every month for 2 years now.

My current card limit is about 3 days pay. wanted it about 4x larger to handle more purchases since I like their no-hassle point ratios.

was told no.

couldn't tell me why, said they'd send me a letter.

the manager told me they didn't update credit score or salary information, so I should apply for another capitalone card if I wanted a higher limit.

Since they were using my 10 year old credit score and my income level from then.. when I was in college.

I was pretty dumbfounded.
Posted by RobPA1978 on 2007-03-15:
I agree. Capital One sucks bad when it comes to credit increases. Capital One actually sent me a mailer telling me that I could get a credit line increase of $250 every three months. Bull. It's been six months since I got the card and I haven't had an increase yet. Still stuck at the meager $1000 line they gave me to begin with. On the other hand...Orchard Bank (a division of HSBC) gave me a card three years ago when I had no credit. They started me at $350 and now I've had so many credit line increases, I'm up to $1300 already! Juniper (a division of Barclays Bank Delaware) gave me a card with a $5000 line recently. HSBC gave me ANOTHER credit card with a $5000 credit line. So, there are better cards out there than Cap One. Check out HSBC--they are really great for people with bad credit, too!
Posted by catdad on 2007-05-20:
You need to understand CapitalOne's business model...which basically involves bilking customers with every conceivable fee it can assess. CapitalOne prefers to not give credit line increases beyond a certain point, but instead to give you another low-limit ($500) CapitalOne card instead. Here's why: If you fall behind for one month on two cards, they can assess you two late payment fees of $39 for each card rather than just one card. Ditto on over-the-limit fees...go over on both and you get zapped twice. CapitalOne must have destroyed an entire forest to get the paper needed to send all those offers for additional cards for me to accept...I threw them all away.
Posted by scot1759 on 2007-06-30:
Exactly same thing happened to me. After 4 years I ask for an increase and was denied with a perfect pay history and a 761 credit score. I told them to go to hell paid the credit off over the phone at that time and closed the account. If thats all they have in their wallet they will be out of business soon.
Posted by cooldude859 on 2007-11-26:
I have only been a customer for six months but will get out as soon as I pay off the balance. They promised to review and extend my credit limit of $250 every three months providing I make payments on time. I did that and got a credit increase of $250 after three months. Three more months went by and I saw nothing. I started sending messages using the account messaging system and that's when I realized the boneheads they have working in customer service. No one replies using their name. I reminded them that I was not requesting a credit limit, I was wondering why Capital One didn't live up to their promise. They got stuck on the "request" for credit and I got a letter in the mail denying my "request" because of the fact that credit requests are not possible. Even though it is possible to "request" an increase, it isn't possible to get one? There is definitely something fishy about this company. If you ask me the whole "credit" scheme should come crumbling down because it's a shady practice to rip off consumers. It is no wonder so many people have bad or no credit. Honest people.
Posted by wayko on 2010-08-18:
I just recently bought a house and my credit is very good I asked for an credit limit increase and it didn't even take a second for them to tell me no
I told them its been years since they gave me a limit increase and I always have paid my credit cards in full I just don't understand. Think its time to go with someone else
Posted by TRAVIS on 2013-02-20:
YES SAME ISSUE MY FRIEND CAPITAL 1 BLOWS HARD
Posted by Advice on 2013-05-04:
Ok, I hope someone gets use out of this. I worked in the Financial Sector for many years, and I know credit like the back of my hand.Now, catdad explained part of it perfectly, so I won't dive into the part about how they profit off of multiple cards in annuals fees, late fees, and every other fee you can think of that doubles when you have two cards. Capital One is a sub-prime lender, though, with some prime products-not good prime products, either. They want people people who earn around 40-50K, people who rent, but in their home at least a couple years or more, and employed, not self-employed, or even student, but employed.Self-employed, or students can and do get approved, but with lower limits. If, your credit score is between 580-679, and you put you make 80K a year, you will get around $300-$1000, initially, with a possible increase to around $500-$1500 after 6 months, or so, and it will stay there till you turn blue. Now, if you put you only make 45K, I can almost promise you, you will receive a higher initial limit-$1,000 to $3,00- than if you put you make anything more than 49K. The numbers might be a little off, by not by far. They want the people who are going to carry balances, and pay 20% interest. They want the people who just got out of BK, and are dying just to be approved, and then they swoop in like the saviours, and literally make you feel like they did you a favor, almost guaranteeing customer loyalty for a few years, until your credit is completely fixed, which by then, you are no longer their type of customer, and you will hopefully move on to better cards, and that's that. They are the biggest POS on the planet, but if you can be smart, and use them to your benefit, in no time at all, you can call them and close your account, and then when it's all said and done, say FU and hang up! Seriously, no matter how well mannered you are, the occasional f-bomb feels liberating! Use their card for a couple years. DO not apply for anything. NO INQUIRIES. Then,around 25 months later, or around 48 months later for BK's (from discharge date),make sure you have paid off your balance in full, so the statement reports a 0 balance, but shows you actually had utilization for at least a couple years, then apply for a chase credit card, preferably the sw airlines, since it's easier to get, then, if you get approved, great, use the card, stop using the cap one, and start building history with a real bank that rewards you properly for good behavior. If, you do not get approved, call the reconsideration line, Chase has one of the best reconsideration lines, and they will do a holistic review, rather than just look at a score and say no. Be honest, and tell them why you fell behind, as long it's true, and a good reason, like you lost everything in the crash, they are human, they understand things can go wrong. Answer the rest of the questions, don't fluf your income, since lower, even if you make 100K a year, is more credible, if you have bad/average credit and just wait for their response and cross your fingers. If, they say no, move on to Discover, Barclays (had very high rate interest, but great rewards,limits, and no annual fee, practically a cap one alternative without all the BS), and also try opening a Bill me later account through your paypal account. Its a great credit line, which is easy to get, gives you a no interest option, as long as you pay off the balance in full in 6 months, and doesn't pull a hard inquiry everytime you need more. All of you know, or many know, inquiries reduces your credit score, but in the credit card world, it is literally the #1 indicator of risk tied with your total utilization percentage (how much of your credit you are using, compared to how much credit you have). Inquires drop off after 2 years. This is why I advised to not apply for anything for at least 2 years. If, you want to give yourself the best chance of getting approved, getting a good limit, future limit increases, and a low rate, you need to be a little patient. It's pointless to keep applying when you keep getting declined or mediocre products, so just be a little patient and apply holding all the cards! Oh, and one more thing. Almost proof cap one likes to double dip in fees. If you get approved, wait a day or two, and apply for a second capital one card. They will use the same credit report/score, since they cannot pull again with 30 days, 90%, you will get approved for a second card, but more than likely with a lower limit, and definitely not more than the original card. I hope this helps someone.
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Capitol One Credit Cards :>(
Posted by on 09/02/2003
Probably the most notorious company for attracting users to obtain cards is this company. Policies are constantly changing, consistantly different information from customer service, and out and out fabrication.

Also they send cards to young adults, who may or may not have the money to pay, or do not understand the credit industry.

Having closed an account I viewed my report only to find that they had listed the account as a charged off (I am holding the canceled check in my hand)and listed me as not having paid for several months.

Also letter from company states account is paid in full however, some customer service representative took it upon them selves to list otherwise.

If you use this company make sure to check your credit report. I intend to sue for false information.
     
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Capital One Does Not Report Your Credit Limit to the Credit Bureaus.
Posted by Discoverhater on 04/21/2006
NATIONWIDE -- Capital One is not reporting your credit limit to the credit bureaus. By not reporting your credit limit, Capital One makes it look like you are spending money that your don’t have. This ends up lowering your credit card score tremendously and also harms you from being able to move to another credit card. Not reporting your credit limit also hurts you when you are trying to get a mortgage or a car loan. Capital One is really doing its customers a disservice. If you have a Capital One card, do not close your account. Pay the balance down and then don’t use it anymore. This is key because paying down your balance will automatically increase your credit score.

Hopefully, Capital One will realize how harmful this is to their customers and turn this problem around. Until then, every time you see a commercial with a crazed Viking running around a mall and yelling, “What’s in your wallet?”, remember that Capital One is really harming their customer’s wallets.
     
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Posted by Hugh_Jorgen on 2006-04-21:
AMEX also doesn't report limits on their tradional AMEX card. Some claim this prevents other CC companies from trolling for high-limit accounts from other banks and then bombarding you with offers for their card. You have to decide what's important to you. Do plenty of research on any card you decide to accept.
Posted by viperpa33s on 2006-04-21:
In fact not only does Capitol One do it but some other cc companies do it as well. Here is a link that will best describe there pracitces of not revealing credit limits.
http://www.veracitycredit.com/credit-scores-and-credit-reports-w-002.html
Posted by Anonymous on 2006-04-21:
Capital One is a great card. I get 2% cash back on Gas and Groceries and 1% on other purchases. No fee checks, no annual fee and a descent online account manager.

The FICO calculation uses high balance when a credit limit is not provided so in a sense there is a pseudo credit limit being reported. I do agree that Capital One should be compelled to report the credit limit but overall the good far out weighs the bad.
Posted by Sweetheart on 2013-07-30:
They also not reporting your statement balance to keep your credit score low.
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Capital One is Corrupt! Avoid it. Mailing Address for CEO
Posted by Ann O Nymous on 06/06/2005
MCLEAN, VIRGINIA -- CONTAINS MAILING ADDRESS FOR CAPITAL ONE CEO

Basically, I think the letter below covers the lowlights of my four year experience with this company. Three years building up good credit, and one year after I closed the account in disgust I'm still waiting for them to report the good credit I built up with them. If you are being charged suspicious late fees, they are fraudulent; they do this to a lot of people. When you decide to close your account, the games begin. If you intend to pay off the balance, send a certified letter return receipt requested in with the right amount on the day they will receive it (they play games with the interest). Send it in plenty of time. Below, you can find the mailing address for their CEO. You can find the mailing address for the Attorney General of their home state, Virginia, on line. I'd say that sending copies of your letters to them to her sounds like a good idea.

LETTER:

May __, 2005

Mr. Richard D. Fairbank
President & CEO
Capital One Financial Corp
1680 Capital One Drive
McLean, VA 22102

NOTICE OF INTENT TO FILE COMPLAINT WITH VIRGINIA ATTORNEY GENERAL
REASON: HOLDING GOOD CREDIT HOSTAGE, OTHER VIOLATIONS

Dear Mr. Fairbank:

Capital One is holding my good credit hostage through lies and subterfuge. There is currently a housing crisis where I live and the loss of the asset of the good credit I built up with you is serious. Multiple attempts to get you to report my use of credit had no effect. Your employees claimed twice that you would at least sent me a letter confirming my account history and use of credit but they never did. This is not an accident. I’ve found many accounts online of similar behavior by your company intended to prevent your customers from leaving you and getting credit elsewhere.

You also charged me for late fees even though I mailed my checks in time(and there are plenty of complaints about you doing this online) You preventing me from closing my account by subterfuge (and there are plenty of complaints about you doing stuff like this online.) Dealing with Capital One has wasted incredible amounts of my time. You’ve for sure lost a customer for life and I’m not the only one.

I WANT:

My good credit reported accurately under BOTH my organization’s name (and employer ID number) and my own name and social security number. That report should say that I paid my bill on time for three years, except for one thirty days late payment, and that the account is it now closed and paid in full. This should all be reported to the three main credit reporting agencies under both names and as well as Dunn & Bradstreet for the organization. You made me personally guarantee this account and if I assume the liability, I deserve the credit too.

I want $1,000 for the loss up to now of my good credit history, stress, much wasted time and punitive damages. This includes roughly a hundred dollars for improperly charged late fees. This amount is symbolic and in no way reflects the true losses involved. I will ask for more later if I have to file a complaint or lawsuit.

If my credit has not been accurately reported within 30 (thirty) days from the receipt of this letter, and I have not received a check for this amount, I will file a complaint with the Attorney General of Virginia.

Sincerely,

(this customer)

cc: The Honorable Judith Williams Jagdmann, Attorney General of Virginia
The Honorable Eliot Spitzer, Attorney General of New York

[Although I don't live in New York, this Attorney General is tough on corporate criminals and I want him to know about Capital One]

Good luck to anyone in dealing with this company. Based on my life experience including this episode, It might be best to get a card from your own bank or a large reputable bank in your area.

     
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Posted by holycrap on 2005-12-06:
do not get a Capitol one credit card, you will regret it. warned you.
Posted by Ann O Nymous on 2006-06-07:
UPDATE JUNE 7, 2006

I had a lot of people want to know what happened with this.

The gist of it is, Capital One refused to pay me for my annoyance or refund the fraudulent late charges. I still believe, however, that the best way to communicate with them is by snail mail letter to the CEO, preferably certified, and with copies to regulatory agencies.

Here are additional details: I was told that Capital One reports their small business accounts to the Equifax small business exchange, although I have not checked to see if this is true. I successfully closed and kept my account closed. I got copies of all my past statements after an extraordinary effort.

As you may know, Capital One is headquartered in Virginia.

After sitting on it for some time, then Attorney General of Virginia Judith Williams Jagdmann claimed that she didn't have juridiction over this matter (I find this highly unlikely; there were ample causes of action) and referred it to another state agency. The Attorney General of Virginia is elected and the CEO of Capital One has made some rich political contributions in his time. This whole thing smells. It makes it look like Ms. Jagdmann let a massive consumer fraud take place under her nose. Not good.

The Attorney General of Virginia referred the matter to the Bureau of Financial Institutions of the State Corporation Commission of Virginia. They sat on it for a while. Then Locke H. Trigg, Regulatory Compliance Analyst responded almost as if he was acting on behalf of Capital One telling me that everything was fine and there was nothing to be done. This smells. People will think they cannot trust businesses operating out of Virginia because their whole regulatory apparatus appears to have been bought and sold. AOL is headquartered there and has also pulled some stunts.

By doing research and by people contacting me, I discovered that there are an extraordinary number of people are being ripped off by Capital One. One thing they do is treat people with past credit problems particularly badly, taking advantage of their shame. They may also take particular advantage of people who are in a financial bind. I believe that they do this on purpose. I believe that they have done this to thousands of people.

Capital One has been the subject of several class action lawsuits. Two were by Attorney's General of states. Capital One has so far appeared to be able to defeat most of the class action suits against them, reminding us that the courts were made by and for rich white men.

Capital One was selected for the Rogue's Gallery of ConsumerAffairs.com. They are the subject of numerous complaints at consumer websites.

These are some individual complaints:
http://consumeraffairs.com/credit_cards/capital_one.htm
http://www.ripoffreport.com/reports/ripoff134507.htm
http://www.ripoffreport.com/reports/ripoff138460.htm
http://consumeraffairs.com/credit_cards/capital_one_late_posting.html
http://www.ripoffreport.com/reports/ripoff105413.htm
http://www.ripoffreport.com/reports/ripoff140806.htm

These are some grievance sites about the Capital One:

http://www.cap1sucks.com/
http://fight-back.us/forum/index.php?showforum=7

I tried to get the media to cover this story but they won't touch it. I believe that this is because Capital One is a heavy advertiser. I tried Lou Dobbs on CNN, all the network news departments, Sixty Minutes, Primetime, Nightline, and the National Enquirer, among others. No luck.

You can file complaints about your experiences at consumer websites like these:

complaints.com
ConsumerAffairs.com
BadCreditCard.org
RipOffReport.com
epinions
my3cents

There are addresses of some regulatory agencies to whom you could cc your letter to Capital One's CEO. I would not expect a lot of action from these agencies, but I believe that a cc to a law enforcement agency heightens concentration.

The Honorable Bob McDonnell
Attorney General
State of Virginia
Office of the Attorney General
900 E. Main Street
Richmond, VA 23219

Commissioner of Financial Institutions
State Corporation Commission
1300 East Main Street
Suite 800
P.O. Box 640
Richmond, Virginia 23219

Good luck. You deserve to be treated better than people are treated by Capital One, even if you do not have perfect record. No matter what your record looks like theirs is much worse. I wish you better times in your financial affairs. May Capital One be exposed and brought down by their own evil.
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Capital One MasterCard: Use It or Lose It, Evidently
Posted by BgReviews on 01/10/2009
I used to think Capital One was great as others have said. I've had cards with them for years. I had good credit, always paid on time, they continually raised my credit. The current card was up around $6,000 credit. Then sometime later they sent me a letter saying they were lowering it to $4,000 because I didn't use my card often enough to suit their fancy. Then later after that, they sent another letter saying since I hadn't used the card lately, they suspended my card and were going to close it in 60 days.

I think that is total insanity. Instead of being GLAD to have good customers, they PENALIZE you for it. What is their insane purpose for this? Does it "cost them" for customers to merely "hold" their card in their wallets but not use them that often?

I don't need to use ANY of my credit cards that often for several reasons, the main one being my Visa Debit card works for me most of the time as I would rather pay "CASH"; and/or when shopping online I use PAYPAL (which is also like paying CASH).

Evidently Capital One would rather its customers be in BONDAGE to them via credit card debt.

I am cutting up my card and sending it back to them and telling them to close it "AT CUSTOMER'S REQUEST" -- and NOT at THEIR request. They are now total JERKS in my opinion.

PS: I forgot to mention that Capital One was the WORST at sending incessant repeated JUNK MAIL ("transfer checks" etc.) in the mail. I hated them for that, too, as I had to constantly be shredding those dang things in the shredder. What a WASTE of my time, their employee labor, and paper Capital One creates!

     
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Posted by madconsumer on 2009-01-10:
this happens to our corperate cards as well. seem they expect people to use em.
Posted by bgReviews on 2009-01-10:
Thanks madconsumer for that info. I wondered what the deal was about this, because I've got other cc's I don't use that often either, and they aren't complaining that they will suspend/close the accounts because of it.

Me thinks Capital One is a very "poor sport."

What irks me is I have an excellent FICA score, and I wonder if this insane "suspension" of this one card is going to affect that. That is what REALLY irks me, as I said.

Anyhoo, thanks again for the comment!
Posted by TGT101 on 2009-01-10:
Most credit cards close in X amount of days of inactivity. This is to protect your account.
Posted by Justusryan on 2009-01-10:
Well, in their defense though, you are "not" a good customer to them. If you never use the card, or carry a balance with interest, you do not benefit them in any way. So obviously they won't lose much sleep over your "business". Having said that, I think using only the money you have to spend is a great thing, and sounds like your on a good, solid, financial track. This is one business your better off without.
Posted by Anonymous on 2009-01-10:
Oh, the drama...credit card BONDAGE! Anyone who doesn't defict spend has nothing to worry about. And it takes money to for a bank to maintain an account. That open account is a constant fraud liability to them if it's used or not. As far as the checks go, it just takes a phone call or letter and the bank stops them.
Posted by bgReviews on 2009-01-10:
In response to the last three posts by TGT101, Justusryan, and Trixta, I guess you guys did not READ my post in full. I clearly said I have a handful of OTHER credit cards from OTHER companies whose cards I also do not use hardly ever, and THOSE COMPANIES do NOT have a problem with that!

An open account is NOT a "fraud liability" unless you are a careless oaf.

And yes I KNOW all you have to do is call or write the junk-mailer/Capital One. The point is, they should NOT SEND all that junk mail in the first place. What they are hoping is to entice suckers to use those incessant checks they send. I can't believe you people are sticking up for the banksters. Haven't you heard the news the past few months? Sheesh.
Posted by Justusryan on 2009-01-10:
I read the post and I understand you have "OTHER cards from OTHER companies" but maybe you didn't read my post. Capital One is "not other companies" and, again, if you're not using their card or carrying a balance where they can make money off the interest, then you are not a customer they want. I commended you for not using it, and you have not used it in a while, so why are you mad?
Posted by bgReviews on 2009-01-29:
I've had Capital One for YEARS. So why all the sudden? is what doesn't make sense to me. What "bugs" me is why can't they just let people keep their cards and use them whenever, like the other cards I have and do not use hardly ever. I suppose C1 is "going broke" like all the other banks? (What a joke the bankster scam has been all around).

The ONLY thing I "liked" about Capital One is their website where you pay your bill -- whenever I did use the card -- is a "light weight" website, and not cluttered nor a "weighed down" website like so many of the others (such as BOA's website is horrible; FNBO's website is horrible, WaMu is so-so, etc. etc.). FWIW, I also **rate** ALL companies, no matter what kind they are, by their websites and how fast/easy/cluttered they are and whether they are sluggish loading in, etc.
Posted by aumsville on 2009-04-18:
Credit card companies give you a card so that you actually USE IT, that is their purpose, get you into debt, if you do not do it then they do not want you as a client
Posted by scorpio27 on 2009-05-19:
I just received the same notice in the mail today that my account was to be suspended and will be closed in 60 days. I haven't used the card in a little over a year, but it was my longest standing account. (10 years) I am furious that this will most likely effect my credit rating, and for what? Not abusing my credit cards...Does anyone know if it will be better for me to close the card myself, or to let them close it for inactivity? Any help would be greatly appreciated.
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Poor Service
Posted by Tatonka on 03/22/2006
OMAHA, NORTH CAROLINA -- Capital One refuses to increase the limit on my Miles One card. I have had it for 3 years, have a perfect paying record and a perfect credit rating as well. I have spoken to several levels of customer service (or so I have been told) and the results have been frustrating. They told me that accounts are reviewed periodically for increases but I have not heard anything in 3 years. I have to use multiple credit cards instead of using just the one to increase my free flight miles. Capital One advertises "No Hassle" but try to deal with their customer service - it is AWFUL. It is not the service people's fault as they are just mirroring what upper management has told them. Not allow ing a credit increase on request when the individual has a perfect rating over 3 years is a disgrace (although it is their choice).

The bottom line was that I was told by Customer Service "tough luck" and "good luck". There was absolutely no way that they could help me (although they agreed with me) because they were bound by management policies.

I was told that my only alternative was to go to another credit card company. I have more to write about Capital One's poor policies but I will spend the rest of my time looking for an alternate credit card company.
     
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Posted by Anonymous on 2006-03-23:
You should thank them for not giving you more credit; you should get away from the TRAP of credit and remember, “What’s in Your Wallet”
Posted by Hugh_Jorgen on 2006-03-23:
It might be your "multiple cards" that hurt your chances. They don' want to extend you more credit if you have a wallet full of other cards and don't have the income to cover them all if you max them out.
Posted by Slimjim on 2006-03-23:
Hugh's right, your debt to income ratio may not support the line increase.
Posted by beanbagbritches on 2006-05-13:
Capital One is horrible, just horrible! Throw them away & find someone better!
Posted by Bohizzle on 2006-09-25:
I have never had a problem dealing with Capital One when it comes to credit cards except for that one time when I got behind paying on my credit card bill * blushes * anyways that was my fault. Since then I have matured and realized the importance and benefits of paying not just Capital One but all my bills on time. I have one card and my wife has two from Capital One and we have zero problems. I personally have been a customer for about 8 years now. Your right ... they are stingy with their credit increases but who cares my sugar mama has two very nice credit limits on her two cards so I can just use hers when I want :-)
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Treated like a Liar and a Crook
Posted by Bob From Texas on 01/15/2011
Retired
Retired
I have been a Capital One customer for years. I have always paid my credit card bill on time and normally a payment well beyond the required payment. On January 7th 2011 I was contacted by the Fraud Division of the bank. They were inquiring about 2 large charges that I had made. I confirmed that I had made the charges, so everything was business as usual. I later received an email confirming my conversation with the Fraud Department. On January 14th I attempted to charge $135 worth of rodeo tickets by telephone but my Capital One card was declined. I contacted Capital One and was transferred to the Fraud Division. They informed me they had placed a hold on my card due to suspicious charges on my card beginning January 12th and continuing almost to the time I contacted them. The charges were for a rental car in Arkansas,(I live in Texas) and then on the same day several charges in the United Kingdom. This is what set off the bells in the Fraud Department and a hold was placed on my card. I informed them I did not make any of the charges, that I had been scammed, (them too) and that I fully understood why a hold had been placed on my card and happy they had. I was informed my current cards would be canceled and new ones re-issued, and since I was such a good customer the cards would be sent out in 2 days instead of the normal 5-7 days, and I would be given an extra 1000 "Bonus Points" for my trouble. I was satisfied with the whole experience until the Fraud representative told me my account showed to be out for collections. He could not explain why as I had never been late with a payment, and in fact it showed they had received a payment of $2000 the day before, which is true.

Here is where things really go down hill fast, and makes me think that someone at Capital One is the actual scam artist. I'm transferred to the Collection Department to ascertain why my account is in collections. I'm informed by them that I, (yes, I) have placed a "Cease and Desist" order on the bank not to contact me, so my account automatically went to collections. I informed them I never did that, and why should I, since my account was, and always has been in good standing. The representative had no answers for me, but would have to once again transfer me to another department to have the order removed. This time I'm transferred to a gal who is the type you always read about as the service representative from Hell, a customers worst nightmare, someone that would be better suited in life working with dead people in a morgue so as not to torture the living. First she comes off with an attitude that I'm some kind of deadbeat as I put a "Cease and Desist" order on my account which I had not. Then she wants to know why I had placed such an order, which I had not. Then she refuses to tell me when and who placed such an order because of "Security Reasons". Then she refuses to give me the name of her supervisor for "Security Reasons", and also refuses to transfer me to that person, "as they won't be able to help you anyway". It was obvious she was trying to control me and the conversation, but having been a police officer for over 30 years in a large city that wasn't going to happen, so she finally let it slip that the order was placed on my account August 30, 2010, but refused to say who placed it, only saying it may have been placed in error. By this time I was worn out, having been on the phone for 1 1/2 hours. I finally convinced her to remove the order, but then she had to add insult to injury and told me I would have to speak with Customer Service to have my new cards re-issued. I told her of my conversation with the Fraud Dept. and they said they would be sent out in the next 2 days. She informed me (like she was doing me a favor) that she would authorize new cards to be sent out instead of customer service but my waiting time would be 5-7 days, not two, take it or leave it.

If a "Cease and Desist" order was placed on my account why was I contacted twice by the Fraud Division and also sent emails by them, even though I hadn't placed the order in the first place? Why have I been able to use my card since August 30, 2010 if my account had been sent to collections at that time? Why was I refused the name of the person who placed the cease and desist order, or even the date when it was placed, even though I am the only account holder? Why was I refused to speak with a supervisor, or even their first name? Is there someone within Capital One that placed the cease and desist order setting be up for future scams? If anyone out there can answer any of these questions, I'll be glad to listen. Thanks.

Confused in Texas
     
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Capital One Tries To Be Sneaky - Be Wary Of A Call From Your Credit Card Company Regarding Overdraft Fees
Posted by Trp2hevn on 02/21/2010
So I know that the new "CARD Act" goes into effect tomorrow. I got a call from Capital One a couple of weeks ago and now I know why. Part of the new credit card rules:

Consenting to over the limit fees -- The CARD Act prohibits over the limit fees unless consumers consent. In the past, a credit card company would allow you to exceed your credit limit, but then charge you a fee for doing so. Now they have to get your consent to do that, and if they haven't gotten your consent, they must decline the transactions that would put you over the limit. Many consumers don't understand how this works, and are ending up inadvertently "consenting" to being charged an over the limit fee.

Well, when they called me a couple of weeks ago, the girl asks if I would like to participate in a special that would only charge me $29 over limit fee instead of the current (meaning before the new rules kick in) $39 over limit fee. I acted like I didn't know what she was talking about and let her go on and on explaining the whole thing, and then politely told her "No, I would rather my card be declined".

Just a note for everyone... be careful because the credit card banks are going to get a little more creative on ways to fee us to death now. Read anything and everything they send to you.


     
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Posted by Anonymous on 2010-02-21:
Great advice, trp!
Posted by tnchuck100 on 2010-02-21:
Absolutely right!
Posted by Soaring Consumer on 2010-02-21:
One of my relatives uses Capital One. He told me that when he attempted to check his balance through their automated phone system, it would automatically connect him to a representative whom would not let him do anything unless he were to listen to their "speech" about this and give consent to it. Obviously nobody is in the mood to waste their time with this bull so he only uses their online service for anything now, he would have closed the card by now if it wasn't for the low interest rate. So from what I've seen, they are literally refusing to provide service over the phone to cardholders unless they agree to this policy, so they can get around the regulation. What sleazebags.

Voted helpful.
Posted by Ponie on 2010-02-21:
Had credit card companies been declining over limit charges in the past, we wouldn't have had all the complaints about 'fees.' Yes, we definitely need our government to protect us from ourselves. None of us know when we're reaching the limit on credit cards, if we have money in a bank account to write checks, use debit cards, withdraw from ATM machines, etc. I've been waiting for someone to hold my hand through life for a long time.
Good informative though because I doubt very many people pay attention to new regs until they get hit--and then complain.
Posted by goduke on 2010-02-22:
I'm not really sure I see this as being sneaky. The law says they have to get your agreement. So they reach out and try to get your agreement. Where's the deception?
Posted by Anonymous on 2010-02-22:
It does seem a little sneaky to me. Ya know they pose it as a special offer when in reality they are merely trying to conform to the law. Just be honest and straight forward with the customer. Is that asking too much these days?

It's unfortunate that in today's world credit cards are a necessary evil and make no mistake about it they are pure evil. One good rule of thumb when dealing with the dark side is after you get your card never say 'Yes' to or accept any of their subsequent offers of insurance, protection, overlimit fees, sweet interest deals, beanie babies of the month or anything else they offer. It will NEVER be in your best interest to do so.

Great post trp2hevn!
Posted by goduke on 2010-02-22:
Technially, Stew, you think the credit card companies are being sneaky just by being in business, so that any action they take in furtherance of being in business would, by definition, be sneaky.
Posted by trp2hevn on 2010-02-22:
goduke
The reason I thought it was sneaky was because the girl didn't say something like... "Come Feb. 22 when credit card laws change we have to get your permission to allow over limit fees, would you like your purchases to be honored if you are close to your limit?"
At the time, I didn't know about this part of the CARD Act. In fact, I am so far from my limit that this is a non-issue for me. Like Stew said, it's the way they asked. I was hoping to help someone else out to understand what is going on if they get a similar call.
Posted by laklisa on 2010-03-18:
Ponie, I am not sure if you are being sarcastic or not with your comment but I know what my balance is in my checking account and the cards I use. I am very conscious about that sort of thing.
Posted by Ponie on 2010-03-19:
Yes, laklisa, I was being very sarcastic with my response. I, like you, are very aware of how much I can spend, an approximate amount on my credit cards even before I get my monthly statements, etc. But there are very many (mostly the complainers) who charge, withdraw, etc., like its a bottomless pit so evidently they need a nanny government to lead them by the hand through life.
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Before You Get Capital One Credit Cart Think Twice!
Posted by Vedat on 12/14/2007
Before you get capital one credit cart think twice! Instead of building credit it can ruin your credit history. Worst customer service I have ever seen, when you make Payment over the phone you get charged for it, if you make Payment on branch it takes a week to be posted on your account. If you do online payment it will take a week to be posted and with any reason if doesn’t go through you will be getting late fee charge and also they will report to 3 bureau credit center right away.

     
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Posted by Slimjim on 2007-12-14:
Some of those items are pretty much SOP with any card, but the posting durations seem a bit out of line.
Posted by tnchuck100 on 2007-12-14:
Before you get ANY credit card...think twice. Forget paying by phone or the company's web site. Most banks have the ability to pay bills on their website. This is much more reliable. Don't wait until the last day and expect to avoid a late fee.
Posted by ejack053824 on 2007-12-14:
I have a Capital One Platinum card and pay it online every month without incident. I'm confused as to why you're having difficulty with this company.

Far as ruining your credit...you don't have to worry about ruining it as long as you make timely payments.
Posted by 2inform on 2007-12-14:
I haven't had any problems paying online either. However, they wouldn't waive the annual fee, so I closed the account.
Posted by ejack053824 on 2007-12-14:
I don't blame you one bit there 2inform for cancelling your account. I won't accept anuual fees either.
Posted by Anonymous on 2007-12-14:
The CC we have does charge a yearly fee, but we more than make it up with the frequent flyer miles we earn. So it depends on your situation, and how and why you use it.
Posted by Ben There on 2007-12-14:
"Before you get capital one credit cart think twice!"... but what about all the Vikings that will attack me if I don't have a Capital One credit card!
Posted by jktshff1 on 2007-12-15:
think twice before getting ANY credit card.
Posted by *Brenda* on 2007-12-15:
My husband has a capital one credit card which I pay online. If you pay before a certain time your payment posts the SAME day.
Posted by BTOrtho on 2007-12-21:
Capital One is definitely needs to improve their customer service. I've read most of the comments about capital one and I can relate to almost all of the negative feedbacks. Don't apply for a Capitol One. I have a credit rating of 750+ and I bought into their commercial and applied for a card. It was absolutely the worst service I've ever encounter from any credit card company-bar none.
Posted by imauu2 on 2008-01-05:
I do not recommend getting a Capital One credit card. Capital One Bank’s has structured their credit card business to extract excessive finance charges and late fees from their customers. This strategy should be exposed, to protect customers. Here is my experience:

1. Capital One restricted me to an unbelievably low credit limit of $2,000 even though my credit history has always been flawless. I realize that this is their prerogative, but no other credit company I have ever dealt with discounts prior credit history. This strategy makes it easy for customers to exceed the credit limit.

2. Capital One’s website does not accept early payments. At Capital One, early payments can only be made over the phone, for which a $10 fee is assessed. When I made an early payment over the phone to avoid exceeding my credit limit, their computer system flagged my early payment as "suspicious activity” even though my payment was immediately and successfully drafted from my bank. Even worse: my credit account was not credited with this payment until one week later after I called and complained to four people in Customer Service. Holding my money because I paid early is a strategy that should be against the law.

3. Capital One’s notified me that electronic funds transfer from my checking account would begin on December 4th . On my statement that was due on December 4th was printed the following information:

“Capital One’s automatic payment service is in effect for your account…. As requested, the New Balance shown on this statement will be debited directly from your designated bank account on your Payment Due Date. You do not need to send a separate payment….”

My bank account was NOT automatically debited on December 4th, and finance charges of $11.88 as well as a late payment fee of $39 were imposed. I was $70 away from reaching my credit limit. I had to call a customer service representative to have the problem corrected.

4. After just the ONE late payment above (which was THEIR fault), Capital One’s website threatened me (in bold, red text) that the national credit bureaus would be notified of my delinquent activity if it continued. I can only imagine how much trouble it would be to have to correct my credit report if it had been wrongfully tarnished.

5. Capital One inquires against your credit report every month, looking for any delinquent activity on any account you have. They have the option of raising your interest rates if they find anything they deem unacceptable to them.

I hope this helps someone!

Posted by Nformed on 2008-01-06:
I've never had any problems with payments posting to my account. You can make payments in advance on the website. I've done it. You can always mail a check. You were trying to advoid an over limit fee. If you go over the limit at anytime you get a fee. Thats all credit cards. It's like a checking account. If you dont have the money available dont use the card.
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Misrepresentation of Credit Limit
Posted by Smckay on 11/20/2009
When I applied for this card, Capital One put a credit limit of $2,000 on the account. I told them that this was not high enough and the card would not suit my needs because when I travel, a hotel bill could total well in excess of $2,000. The representative told me that as long as the balance was paid in full by the end of the month, there would be no problem. He further explained that the credit limit meant that I was not allowed to carry a balance over $2,000 into the next billing cycle.

That information was incorrect. Luckily, I was in the U.S. when I found this out and I did have other credit cards to fall back on. Capital One declined all chargaes as soon as the current balance reached $2,000.

I applied for and received this card because I was intersted in the fact that there were no bank fees (money transfer fees to another currency) when travelling abroad. This card requires Excellent credit.

I kept the card until I learned that they misinformed me; I cancelled immediately.

     
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Posted by Anonymous on 2009-11-20:
" I was not allowed to carry a balance over $2,000 into the next billing cycle. "

Well, yeah, you'd be over your balance and that incurs fees.

"Capital One declined all chargaes as soon as the current balance reached $2,000. "

Um and? Your limit is $2,000. I don't see how this would be a bad thing of a card declining when you've already met your max amount.

I don't see where there was any misinformation...

Posted by JR in Orlando on 2009-11-20:
I agree Bearkatkitten. The op raised concerns about how he wanted to use the card for business.

I believe the company representative was pointing out that the op could charge an unlimited amount of money during the month, as long as he in effect made intermediate payments during the month: 1st week pay none, charge $1,000; 2nd week pay $800, charge $1,500; 3rd week, pay $600, charge $200; 4th week - pay $1,200, charge $1,400. During the month he charged $4,100 dollars, but the ending balance that was carried over into the next billing cycle would be $1,500.

If the op did not make intermediate payments how did he expect not to carry over a larger amount into the next billing cycle, since statements never come out until the billing cycle has ended, and its at least a week into the next billing cycle. If he wanted for his bill, he would be in the next billing cycle, thus the representative clearly meant that if intermediate payments were made,the OP could keep using the card.



erprete "I was not allowed to carry a balance over $2,000 into the next billing cycle" to mean that you have to make intermediate payments to keep the balancannot charge over $2,000.00.

Posted by hethr on 2010-02-22:
Bear, It seems that you didn't read what the OP wrote. He said the rep assured him he could still use the card for over his limit as long as he paid it w/in the cycle, but at the hotel the card declined the overages. A legitimate complaint to have been told wrong information.
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