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Written by: lyyssa on 2008-03-18

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lyyssa's review: Callout Comment I have had this card for over a year and it's been very rewarding for me. Like most everyone else, my credit scores were not that great, and I started off with a small cl (300). One year later I have a $2000 cl, and an excellent relationship with them. When the annual fee was due I called and threatened to cancel (yes, lol, drama queen). They immediately waived the annual fee, and then told me to call back in 3 months to get a lower interest rate.

I've heard a lot of complaints about Capital One declining requests for CLI, and it's true. If you request it, chances are you will not receive it. If you do, however make all your payments on time, leave a small balance so they could make a little money off of you (I usually leave a $10 balance) they are more than generous with their credit increases.

I strongly believe it's been my timely payments with Capital One that has enabled the big boys like Chase and Citi to trust me with one of their cards.

Now I just need to work on Discover. :D

As it is, Capital One is a great unsecured cc to start off with if you a rebuilding or trying to establish credit.


Comment 1 by ash
Re User Icon on 2008-03-19

Remarks Did you go through the credit steps program? What everyone wants to know is after the initial first promised increase how often do they give the cli's?

And congrats on your progress with your FICOs...:)
Comment 2 by sethatco
Capital One User Icon on 2008-03-19

Remarks I have a vVsa & Mastercard with this joke of a bank. Both accounts open over a year. I also have a money market account with Capital 1 to the tune of 40 grand. I was never given a line increase, either by Cap1 or thru asking. My balance is paid in full each month with no late payments. 700 plus FICO score on all 3 CB's. I just closed both accounts and told them to kiss my you know what. I also closed out my money market account and told Capital1 had they not given loans and credit cards to any idiot with a pulse and a FICO score of 450, then they could give proper credit to its good customers. Avoid them like the credit wreck they are.
Comment 3 by adicus
CapitalOne User Icon on 2008-03-19

Remarks I have 7 accounts with Capital One (2 being credit cards) and by far are the easiest to deal with, other than AMEX. I was once denied Merchant Services by Capital One for my business and I had to muscle them a bit to re-think that decision or I was going to take my useless thousands and thousands of dollars to CHASE.

They gave in and took me out to lunch. The minute they start tripping I'm going to CHASE or BofA.
Comment 4 by meya
I Love It User Icon on 2008-03-19

Remarks This has been my favorite card every since I started re-building my credit. I have to show them nothing but Love.
Comment 5 by wildrage2
After Credit Steps.... User Icon on 2008-03-19

Remarks I'm also interested - how often did you get increases after the initial 3 month 'credit steps' increase?
Comment 6 by lyyssa
Cli User Icon on 2008-03-19

Remarks Quite honestly, I'm not sure how it worked. I've never really been too interested in CLI, so when they mailed me the "3 steps" thing I glanced over it and threw it away. But I remember it went that I had the card for about 3 months, and was raised to $750. My next cli was to $1250. The big bump was on my 1 year anniversary.

DH has a Cap1 with a cl of $3000. He started with a $500 limit, and was given one bump that pushed him to the 3k.

Hope that info helps

I don't see an EDIT button, so I'm just sending this off... Sorry for any typos.
Comment 7 by lyyssa
One More Thing... User Icon on 2008-03-19

Remarks I just wanted to add that I spoke to dh and he said that on his Cap1 he did initially get an increase to $750. After that it went up to 3K. YMMV.
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