No. of Recommendations: 1
Capital One totally sucks. I called to see about raising my credit limit and was told that they couldn't do it. I have great credit and make more than $100K per year, yet my limit on my Capital One card was only a measly $1500. Hardly even enough for me to want to use it.

I then requested to cancel my credit card with them and was told by the very unprofessional representative that, 'that would be impossible because that department is closed right now'. Excuse me? Closed? What if my card was stolen? Oh, the rep. then said that that's different.

I then asked to speak to a supervisor who had no problem closing the account.

It turns out that when you try to close your account with them, they transfer you to some other department which will try to convince you to stay using psychological coersion tactics. Very shady. The will try to pressure you into keeping the account open. Even the supervisor I spoke with did so. I finally had to say, "Listen, I don't have to give you any reason why I want to close my account so don't badger me missy. Just close the darn account like I'm requesting!"

-They were not able to increase my credit limit and were unable to tell me why. They were unable to provide good friendly customer support. And so I have no reason to keep my card open with them and have closed it. They suck!
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I called to see about raising my credit limit and was told that they couldn't do it. I have great credit and make more than $100K per year, yet my limit on my Capital One card was only a measly $1500. Hardly even enough for me to want to use it.

That is really peculiar. I just got my Cap One last year, and I earn about 1/3 of what you do, but my limit is $6,500.

Have you checked your credit reports? There might be something there you don't know about.

Either that, or you had a really dumb customer service rep.

Bet you had fun closing it, though, didn't you?

Nancy
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Your experience with closing a credit card sounds typical. When I've tried to close accounts with FUSA and NextCard, I was immediately transferred to their account retention departments.

Sometimes when you threaten to close the account you actually get what it was you wanted in the first place. Case in point, when I told a NextCard representative I wanted to close my account because the interest was too high, they offered to lower the APRs on balance transfers, purchases, and cash advances all to 9.99%. They asked if I would keep the account open if they did this for me and I told them it was fine.

Perhaps if you had told the supervisor you were closing the account because you couldn't get a higher limit, the supervisor would have given you the limit increase you had wanted.

FWIW, when I went to close my accounts with Citibank and with FUSA, the representatives were unwilling to lower my APRs any further and instead closed the accounts. So, I guess the moral is that sometimes these hardball tactics work and sometimes they don't.

Dan
aFoolishEngineer
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There is clearly something wrong, here. Either you got an agent that is totally dumb, or your credit rating is messed up, or something. Do you have a lot of credit cards, with high limits (even though you may not be using them)? Do you have other outstanding personal loans or debts? How do you define "great credit"?
Our adjusted gross income is *way* less than $100,000. My credit limit with Capital is now $15,000 -- they just raised it, on their own, from the previous $10,000. (I intend to ask them to lower it back to the $10,000).

But you really should check your credit reports -- there may be something there that doesn't belong, that is skewing their view of what you consider "great credit".
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I guess the moral is that sometimes these hardball tactics work and sometimes they don't.

Then again, if you don't get what you wanted, perhaps the card wasn't worth carrying in the first place??

- Lan
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Another factor could be the credit rating at the time the account was opened, or its original status.

Chase, for example, if you carry a secured card, your card is flagged as secured until you close it. Even after you get your deposit back, you still have to pay the annual fee even though they offer a bunch of cards with no annual fee.

Perhaps there's some sort of flag on the CapOne account.

Solution = close account, get new account with different bank. :-)

- Lan
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You play with snakes you are going to get bit. I'm not knocking snakes (I kind of lik'em) but they are just being snakes. That's what they do.

later,
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You play with snakes you are going to get bit.

Anyone remember the Al Wilson song, "The Snake", from about 1969 or so?

"Ah, shut up, silly woman,
said the reptile with a grin.
You knew darn well I was a snake
Before you let me in."

And the hits just keep on comin'!

mike

looking for Poke Salad since 1902
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Listen, I don't have to give you any reason why I want to close my account so don't badger me missy

Does this mean you didn't tell the supervisor you wanted a higher credit limit?
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I have never had a problem with Capital One. As a matter of fact after coming out of bankruptcy in 1997 they gave me a secured card with a $1000.00 limit with $49.00 as a "security deposit" I closed the account after a year and promptly received my deposit back. I received another card with them about 1.5 years later with a 9.9% rate (0% for six months) with a $1000 credit line. I make my payments on line and they always post correctly. I, however, asked for an increase about 2 months after opening it and they denied it, that's okay. I'll wait the year out and see what happens!!

Walt
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I, too, have never had a problem with them. Their basic Visa card was the first card I got in my name, and i had it until i graduated and got a real job at which time i got their platinum Visa. I called and cancelled the basic one and they didn't give me much of a hassle. I just explained why, and that was that. Of course, it probably helped that i cancelled in favor of another Cap One card.
And all the customer service reps I've spoken to have been very nice and helpful.
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They probably didn't raise your limit because they know you can afford to pay off your balance every month so they wouldn't make anything off of it.
I make about 32K/year, and have a limit with them of about $3000 I think (which, unfortuneatly, is nearly maxxed right now :( ). And at about 25% interest too.
So, yes, they SUCK.
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<<Capital One totally sucks.>>

I absolutely agree! I had an account with them that I had paid off and was about to close when they sent me an balance transfer offer with a fixed rate of 5.5% until the balance was paid off (as long as the account is in good standing, etc., etc.) I paid close attention to the fine print, including the deadline on the offer and sent the balance transfer check to my other credit card company TWO MONTHS before the deadline. It posted to my other credit card company well in advance of the deadline. However, when I finally got a statement from Capital One, the payment had posted ONE DAY after the deadline, thus, the rate on it was 12.5%. I'm not saying that this was deliberate on their part, but the timing seems a little suspicious to me.

When I called to ask about getting the offer extended since I barely missed the deadline, the very unprofessional representative said so sad, too bad, she could do nothing about it. I tried cajoling her with various arguments about what a good customer I am, the good credit record I have, etc., etc., all to no avail. I finally threatened to transfer my balance and close the account (which is exactly what I did), and she acted like she could care less.

So I unequivocally agree - they suck big time!!
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"...looking for Poke Salad since 1902..."
Wow,
Poke Salad Annie was a LLLOOOONNNNGGGGGG time ago.
Flash from the past!
Dawn
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