Capital One is MY FAVORITE! Yes, I said it! CLI to 20k

QuestionsCapital One is MY FAVORITE! Yes, I said it! CLI to 20k
asked 3 years ago

I have lurked around for a long time rarely posting but I decided to make a post about my experience with Capital One.

 

I started out with a credit score in the mid 400’s and couldn’t get approved anywhere.  I was doing what many here have had to due and that is rebuild from the ground up.  The hard part was finding the first brick to start building.  For me AND MANY OTHERS….THAT FIRST BRICK WAS CAPITAL ONE as they approved me for a unsecured builder card with a 300.00 credit limit.  This was 4 years ago and now today I check my FICO and I am 701 EQ and 700 TU.   It just burns me up that so many people here dismiss Capital One and what they do for so many people.  They provide an out for people like myself who truly want to rebuild and do the right thing.  They provide an inexpensive way unlike First Premier, Credit One, among many other banks that charge outlandish fees. 

 

Here is the history of my Capital One card

 

 

Opened in January 2012——-$ 300 limit

In July of 2012 (Auto CLI to $ 1000 limit)

In December of 2013 ( Love Button CLI to $ 2000.00 and PC to Quick Silver One)

In February of 2014 (Love Button CLI to 2800.00)

In June of 2014 (Love Button Denial for CLI)

In February 2015 (Auto CLI to 3500.00)

In December 2016 ( I sent an email to EO saying that I put 2000.00 in spend per month on the card and would like a limit that would not destroy my utilization on the card.  I got a call from a friendly person who took some basic information (Income, CLI I needed, etc).  After 5 days I log on to Capital One website and $ 20,000 credit limit!  AND A PRODUCT CHANGE TO VENTURE (GOT A PRETTY METAL CARD) – Per my request!

 

There are many good things about Capital One that people here don’t speak of…..FOR INSTANCE…………. THEY SIMPLY DO NOT BALANCE CHASE!  My dad had a card with them and carried an 11,000$ balance for over a year making minimum payments.  Once his income got right he started paying large payments until it was paid off, and they never once lowered his CL in an attempt to balance chase. 

 

Secondly,  People often say Capital One doesn’t grow with you, but from the several people I have talked to who have actually heavily used a Cap One card, they have no issues getting decent CLI’s (but usually it does have to be done through their EO).   However, if someone is willing to take a little time, they can make it grow.  Sure it may not be as easy as Chase but once you get the credit limit from Cap One…..They aren’t affraid to let you use it.  I have heard stories of banks like Chase, Citi, and Barclays balance chasing people who carry large balances.  

 

Third, It is affordable.  I am sure that many of the people here who call Capital One names like CrapOne, etc did at one point use them as a stepping stone to prime land.   Let’s face it.  They are saving people from vultures like First Premier and that is a GOOD THING!  

 

I have the following cards

 

Chase Freedom 8k limit

AMEX Green NPSL

Discover IT 7k limit

Barclays NFL 5k limit

Barclays Rewards 3k limit

All South FCU Visa 15k limit

and Capital One Venture that is at 20k

 

People who are new and looking for that first card.  Please don’t let any ill remarks about Capital One scare you away.  I have had nothing but good experiences and I am happy to be a Capital One Customer.   They financed my last vehicle purchase at 3.9%  and I might even allow them to finance my home loan since they already pre qualified me.  They are a good bank in more ways than they are not.   

 

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