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Capital One® Platinum Credit Card Review
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Written by: jmj3320 on 2008-08-26

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jmj3320's review: Callout Comment I decided to apply for this card late last month online. After reviewing the terms and conditions of the cards Capital One currently offers, I decided to go with this one because it did not have an annual fee. I feel the interest rate is a little high but that's OK because I don't carry a balance. I was approved immediately online with a credit limit of $500 and have yet to receive the credit steps letter. I don't like how the CS is over seas. I got this card to build my credit. I'll let you know the over all use on the card once I use it more.


Comment 1 by meya
Way To Go User Icon on 2008-08-26

Remarks Wow, after reading your last posts to cc's, I would have thought that cap one would have offered you a higher cl. Welcome to the Cap one family. Also, you should receive the credit steps letter in the same letter as your card. If not, then maybe they will mail it to you soon.
Comment 2 by thomas1
Cap One User Icon on 2008-08-26

Remarks I agree with Meya, I would have thought you would have gotten a higher line also. With those scores you should have, but I'm not sure if your recent new accounts had anything to do with their decision on the credit limit.

I would call the backdoor number and ask for reconsideration on the credit line. After all, they started me with a 1k limit, and 4 months later, I'm at 4k.

Here is the backdoor number to account managers who speak English and have more authority than the number on the back of the card. It is 1-877-513-9959 With those scores, I wouldn't settle for 500$, although they really increase lines quickly and nicely, I would still call them once you get your card.

Let us know how it works out for you if you decide to do that.
Comment 3 by sweet135
C O N G R A T U L A T I O N S User Icon on 2008-08-26

Remarks I applied for this card 8/14/2008 got a denial and I sent a consideration letter and they told me that I have to wait until 30 day for my credit report to update before they can look at my application again.

Hopefully I will be part of the Capital One family as well

Congratulations again

Comment 4 by jmj3320
Credit Line User Icon on 2008-08-26

Remarks The first CC I got was an HSBC card which I opened in 6/2007; never late and rarely carried a balance. I am only 19 so my credit is not fully established. Maybe I will give the back door number a try and see what they say. From what I hear from others, they are really good about CLI's. Another reason why I think I got a low limit was because I opened two other cards in the same month. I am going to college soon and wanted to open cards before I went in case I needed them. I know my FICO will take a small hit, but that's ok. Having multiple lines of credit and paying them off will pay off in the long run!
Comment 5 by hjm331
RE: JMJ3320 User Icon on 2008-08-26

Remarks That's crazy that you opened your first credit card in June of last year. That's also when I opened my first credit card account and it was with Capital One. I'm also 19 and have been blessed with great credit cards thanks to Capital One.
Comment 6 by colonative
JMJ/HJM User Icon on 2008-08-26

Remarks I was 19 as well when Capital One pre-approved and subsequently approved me for an account. That was 10 years ago and I greatly value the opportunity Capital One gave me. Keep the card because they will reward you down the line!
Comment 7 by jmj3320
Credit Steps Question User Icon on 2008-09-09

Remarks I received my credit steps letter a few days ago and was reading the posts by other users. If I were to call the back door number after my 2nd payment posted to my account before the credit line increase kicked in and requested a CLI, would they do a hard inquiry on my credit report?
Comment 8 by hjm331
RE: JMJ3320 User Icon on 2008-09-10

Remarks Capital One always bases their CLI decisions on your account or soft inquiries.
Comment 9 by jmj3320
N/A User Icon on 2008-09-10

Remarks Good to know. Thanks for the response.
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