Personal Finance

What's your opinion on Capital One?

  • Last Updated:
  • Oct 3rd, 2014 7:04 am
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Poll: how do you rate capital one

  • Total votes: 74. You have voted on this poll.
they've always been great to me
 
27
36%
their customer service is top notch
 
4
5%
they're alright I guess
 
13
18%
I'm torn between them and other issuers
 
0
0%
I've never had luck with Capital One
 
4
5%
their credit limits stink and cannot switch cards or upgrade
 
16
22%
I would never apply for a Capital One card ever
 
5
7%
they should pack up and move back to the U.S
 
5
7%

Poll ended at Dec 18th, 2014 8:01 pm

[OP]
Banned
Sep 10, 2014
694 posts
144 upvotes

What's your opinion on Capital One?

There's a lot of controversy on the quality of service and all around business practices of Capital One. Keeping in mind the new announcement about Costco and Capital One, what are your personal opinions about Capital One (Not Costco or any of their decisions)
33 replies
Sr. Member
Apr 28, 2014
675 posts
174 upvotes
Oakville, ON
I'm satisfied with the Aspire Platinum Cash Back; I got the card last year, so I get the 1% cash back plus 25% annual loyalty bonus (grandfathered).

I know about the complaints regarding the credit limits; my limit is $5000, which for me is enough.
Deal Fanatic
Apr 16, 2007
7068 posts
1969 upvotes
Financial District B…
CapOne's core business model is to cater to credit challenged individuals.

While they also do offer some premium cards such as the new co-branded Costco platinum card my opinion is they do this so they're not totally labelled a sub-par credit issuer.(which they are)
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
[OP]
Banned
Sep 10, 2014
694 posts
144 upvotes
mikeymike1 wrote:
Sep 19th, 2014 9:19 pm
CapOne's core business model is to cater to credit challenged individuals.

While they also do offer some premium cards such as the new co-branded Costco platinum card my opinion is they do this so they're not totally labelled a sub-par credit issuer.(which they are)
I tend to agree with this. I've read countless complaints online about Capital One raising limits of borderline credit individuals, while at the same time declining or refusing to even consider an increase to those with great credit. I would have to assume they take care of the revenue generators.
Deal Fanatic
User avatar
Aug 29, 2012
5400 posts
3235 upvotes
lovefreemoney wrote:
Sep 19th, 2014 9:54 pm
I tend to agree with this. I've read countless complaints online about Capital One raising limits of borderline credit individuals, while at the same time declining or refusing to even consider an increase to those with great credit. I would have to assume they take care of the revenue generators.
They have got this down to a science to extract as much revenue as possible, using extremely detailed computer analytics. Every single thing they do is for a reason to further that end.

There's a reason they push their useless secured credit cards with exorbitant annual fees so much.
Sr. Member
May 1, 2011
986 posts
334 upvotes
Near GTA
Great company and great website. Approved for 15k limit 8 mths ago. Had my card frozen once when I was traveling for work. Most pleasant 20min call I've ever made with a customer service rep. No frozen problems since.

That being said, I wouldn't be surprised if I talked to a special group since I put 10k ++ on it a month for work plus personal charges
[OP]
Banned
Sep 10, 2014
694 posts
144 upvotes
chrischris84 wrote:
Sep 19th, 2014 10:06 pm
Great company and great website. Approved for 15k limit 8 mths ago. Had my card frozen once when I was traveling for work. Most pleasant 20min call I've ever made with a customer service rep. No frozen problems since.

That being said, I wouldn't be surprised if I talked to a special group since I put 10k ++ on it a month for work plus personal charges
120k a year spend, and you need a card from a sub prime lender? Something stinks here.....
Deal Addict
User avatar
Feb 25, 2014
2170 posts
332 upvotes
Mississauga
they should pack up and move back to the U.S

- wanted to do a balance transfer to cibc, their cheque got rejected and they did not even care to inform me
- had to over pay them due to the incident above and until they received their money for which I received the over paid amount back in cheque after 6 months.
Oh sada kehra bapu karda black nee, Jehra tere shahir (Toronto), Le lawan flat nee
Deal Addict
Dec 26, 2009
2274 posts
945 upvotes
lovefreemoney wrote:
Sep 19th, 2014 10:12 pm
120k a year spend, and you need a card from a sub prime lender? Something stinks here.....
If I was putting that kind of money through a credit card, I would pick whichever one gave me the highest return that was useful for me... who cares who the lender is?

Even as people that put way less through, there's tons of us that feel the same way based on the Aspire threads on RFD...
[OP]
Banned
Sep 10, 2014
694 posts
144 upvotes
RubberCheese wrote:
Sep 19th, 2014 10:21 pm
If I was putting that kind of money through a credit card, I would pick whichever one gave me the highest return that was useful for me... who cares who the lender is?

Even as people that put way less through, there's tons of us that feel the same way based on the Aspire threads on RFD...
I agree. I just assume with that high spend, there are probably better premium cards out there with better rewards. There has to be something better than Capital One for 120k yearly spend
Deal Fanatic
Apr 16, 2007
7068 posts
1969 upvotes
Financial District B…
lovefreemoney wrote:
Sep 19th, 2014 10:12 pm
120k a year spend, and you need a card from a sub prime lender? Something stinks here.....
While its common to think a sub-par credit issuers main business is sub-prime lets not forget they do offer premium card(s).

CapOne seems to offer credit products to two extremes, really poor credit/no credit individuals and really good credit individuals with not much really in between.


The CapOne Plat MC will specifically target and be geared to the Costco AMEX users. That is and all they'll probably want.
I highly doubt their initial plan in their marketing is to target 'new' customers.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
Sr. Member
Jul 8, 2009
643 posts
187 upvotes
Toronto
They've been excellent to me. Quick approval. First card came with a 3K limit, which I thought was acceptable. Second card came with a 15K limit! More than I need.

I forgot to pay my bill on time once. I called them up and asked if they would waive the interest charges (about $16). They did. CSRs were helpful and friendly.

Love the purchase cheques they used to send. (I believe the rules changed and they don't send them out unsolicited anymore. I might call them up again to see if I can get more.)

Capital One is second only to Amazon in my list of companies that treat their customers right.
Deal Addict
User avatar
May 19, 2005
3482 posts
486 upvotes
Markham
Pmg experience has been good the few times I had to deal with them. I see a lot of complaints about low credit limit but mine is sufficiently high in the xx,xxxx range. No different than what's offered by AMEX or one of the other banks. I like their easy to setup alerts features. They offer the best rebate deal for my spending patterns.
Some people just don't get that online forum posts shouldn't always be taken seriously.

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