Capital One Cardholder For 5 Years NOT ONE INCREASE
Well, Where to start ? 5-6 Years ago I applied for a Capital one card. I was approved and was given a $500 credit limit. I paid the statement on time each and every month. After a year had went by of having the $500 card. I called in and asked for a credit line increase. I was denied, and told that the reason for the denial would be mailed to me. About 10 days later it arrived. The reason ? Well here's the reason that they stated to me. In fact, I received 2, Yes, 2 separately mailed denial letters. And they BOTH stated the same thing. They both stated that the reason for my denial was:
"We are unable to verify your billing address"
Okay, What !!?? Unable to verify my billing address ? But yet they mailed me 2 letters, and mailed them to my billing address ? What kind of excuse is THAT???
Well, I just blew it off. Thinking, Okay, Maybe I just need more time to show them my credit worthiness, fine. I'll wait for my time to come.
The following year came, Year 2 denied, Year 3 denied, Year 4 denied, Then finally, In Nov-Dec of 2012 ( Year 5) I again called in but well prepared this time. This time I had a copy of my credit report AND my FICO score in hand .
My credit report doesn't have a single blemish ( Yes, From all 3 credit agencies). And my FICO score was 686.
Again I was denied a credit line increase !!! The reason ??
" Capital One is currently not accepting customer initiated credit line increase request at this time "
Well then why not state that to me on the phone when I had called in to ask for an increase ?? Why play make believe on the phone and pretend like your reviewing my account for an increase ???
Now, This time I told the Capital One representative that I was getting sick and tired of getting BS reasons, and that If I don't have an increase by March 2013 that I was going to close my account at that time .
Now, Just to let you know my account balance had been paid in full since October of 2012. So I would give them 6 months to give me an increase, or I was done.
I then hang up with Capital One. I now turn to my other credit cards. And begin to call them and ask for an increase on those cards.
Discover Card = I had only had my Discover card for about a year. They started me at a credit line of $1, 000. So I call them and ask for a credit line increase, They gave me a $4, 000 credit line increase.
Best Buy Mastercard ( Now owned by Capital One ) I had them for about a year and a half. Started me off at $600, 7 months later raised it to $1, 000. Now when I called in and asked, They raise it $900.00.
Citi Bank Diamond Preferred Credit card + I apply for the first time and they give me a $3, 000 line of credit.
But the Capital One card that I have had now for 5 years won't raise my credit line one single cent ????
So now March 2013 is here. No increase !! So I then state, Since you won't increase my limit, what's my interest rate ?? The guy says , "It's 22% ", I say, well then lets get THAT lowered at least. He says , " I'm sorry sir, I'm unable to do that for you " . You know what ?? Just close the account then. And he did so without even a whimper of trying to keep me as a customer.
So I close the account, Then immediately file a complaint against Capital One with the BBB.
3 Days go by, And a lady from Capital One Corporate Offices calls me regarding my complaint to the BBB.
I pretty much tell her exactly what I'm telling you here. About my 5 years of denial, yet other companies either giving me substantial credit increases, or other credit card companies STARTING ME OFF at $3, 000, and yet nothing from Capital One.
She asks me how much credit I have on my other CC's. I tell her $5, 000 on Discover, $2, 500 on my Discover ( Walmart), $3, 000 with Citi Bank, $7, 000 Wells Fargo CC, and $2, 000 with my Best Buy Mastercard.
She asks me then, " Sir, If we were able to get you a credit line in the ballpark range of your other credit cards, would you consider, or be willing to re-open your Capital One card that you closed with us " ??
I said , Absolutely !!
She then states that she will " talk it over with her colleagues " and see what they can do.
This was on Wednesday March 27th. So I'm waiting to see now, If Capital One will FINALLY step up to the plate and finally TREAT me like a " Valued Customer " , rather than just SAYING those words.
Now, right before I wrote this, I logged into my Capital One CLOSED account to see if anything had been changed. Well, To my surprise my account was reopened on Friday March 29th, By whom, I have no idea, I assume the lady at corporate that I had talked to. But the credit line still states $500, we shall see what happens the next few days.
I don't mind waiting my turn, But darnitt 5 YEARS???? To the poor guy that stated he was a member for 10 years, WOW!!!!
I don't want to hear the words " Conservative " ever again from Capital One . " Conservative " could of been giving me a nickel or dime credit increase, NOW THATS CONSERVATIVE!!!! But not giving a penny in 5 years ??? To a so called " Valued Customer " ?? That's what they tell me each year, that I'm a " Valued Customer ", LOL, So that's how you treat all of us " Valued Customers " ???
More Reviews on Capital One: