Why are you guys calling it a Crap1?

[cali girl]

What does that mean? Something I need to know? I just got a CapOne card.

[magyar123]

What does that mean? Something I need to know? I just got a CapOne card.

After a few months/years of dealing with them you will find out why everone calls them CrapOne, and believe me - you will too.

[Boscoe]

Cali girl - what is your Credit limit and annual fee on this card?

One thing already is, unlikely every other card issuer out there, they pull all 3 credit reports, rather than just one like all other credit card issuers....

[cap350z]

Not a huge fan of CapitalOne either. But they gave me my 2nd credit card after my bankruptcy. And all was forgiven after I discharged two previous accounts with them. I found with them, they would only give you a nickel or a dime here and there as far as credit limit increases. Nothing that would give assistance when needed the most.

Now I just use them as a tool to repair my credit history. I used the card a few times and now it's in a block of ice inside a glad lock container in my freezer. And I just send them payments on the account.

[ameliabedilia]

Our bk was discharged this past January. Our scores had not budged since discharge- my husbands have been at 650-690. I decided we needed to start some rebuilding so I applied for card for both of us. We both got approved for $3000 limits (I cannot believe that) and no apr for 6 months then 12.9 after that.
All of that matters very little though since we will not be using them EVER! I have heard too many horror stories about crap1

[phoenyx]

I call them Crap1 because...

Mainly, they screwed my company out of $13,000+ years ago, and we couldn't afford the legal fees at the time to go after them.

I have had several experiences with extremely rude phone representatives with Capital One. I know a rude employee can happen at any company, and shouldn't necessarily reflect on the company as a whole. One time I spoke to a supervisor, who legitimately seemed very upset over the way I was treated, and was going to pull the recorded phone conversation and discuss it with her. I have to give them credit for this, at least.

[cali girl]

Cali girl - what is your Credit limit and annual fee on this card?

One thing already is, unlikely every other card issuer out there, they pull all 3 credit reports, rather than just one like all other credit card issuers....

Hey there,

I got a CapOne Platinum MC with a $300 limit, 0% interest until June and then it goes to 8%. There's an $8 charge each month which equates to an annual fee of $96 I believe.

[AMISLANDER]

I didn't even have to bk them as I think I only owed around 1,200.00 but I put them in with my other cards because I HATED THEM.

They were the rudest ever on the phone. They were relentless at doing nothing. When those commercials were hot with David Spade saying, "NO!"....he was representing Capitol One to a tee...I can't even remember if that was their commercial or not, I hate Crap 1 so much!

I would never, ever, ever get involved with them again!

[jetset]

I've never had a problem with Capital One...I got my first card after bankruptcy with a 300.00 limit, that limit is now 1,000.

I got a second capital one card with 0% through September '08 with a 2,000 limit off the bat.

They've never been a problem. I guess i'm that one in a hundred that gets good treatment.

jetset

[FLBK7]

I call them Crap 1 because... A few months after discharge I got a no-fee $500 Crap1 MC. I used it carefully and they kept increasing my limit until it reached $2,500. Then I got other credit cards and tried to sort of "rotate" them, while keeping either no balances or very small balances.

Two years after getting the card and after a year of not using it at all (zero balance), they suddenly charged me a $39 annual fee because my "inactivity" cost them money!? That is exactly what I was told on the phone when I called to question the $39 fee on my statement. I told them I wasn't going to pay it and they said they couldn't waive it so I asked them to close my account. Crap1 was fine to re-establish my credit, but they screw you if you don't use it on a regular basis. Good riddance to them.

[jp2861]

I call them Crap 1 because... A few months after discharge I got a no-fee $500 Crap1 MC. I used it carefully and they kept increasing my limit until it reached $2,500. Then I got other credit cards and tried to sort of "rotate" them, while keeping either no balances or very small balances.

Two years after getting the card and after a year of not using it at all (zero balance), they suddenly charged me a $39 annual fee because my "inactivity" cost them money!? That is exactly what I was told on the phone when I called to question the $39 fee on my statement. I told them I wasn't going to pay it and they said they couldn't waive it so I asked them to close my account. Crap1 was fine to re-establish my credit, but they screw you if you don't use it on a regular basis. Good riddance to them.

Let me make sure I understand what you said. YOU filed a BK. THEY gave you a second chance. You dont expect them to make any business profit out of this arrangement. And now you run around saying they "screwed" you after they gave you a card. Does that about sum it up?

[Bandit]

I call them Crap 1 because... A few months after discharge I got a no-fee $500 Crap1 MC. I used it carefully and they kept increasing my limit until it reached $2,500. Then I got other credit cards and tried to sort of "rotate" them, while keeping either no balances or very small balances.

Two years after getting the card and after a year of not using it at all (zero balance), they suddenly charged me a $39 annual fee because my "inactivity" cost them money!? That is exactly what I was told on the phone when I called to question the $39 fee on my statement. I told them I wasn't going to pay it and they said they couldn't waive it so I asked them to close my account. Crap1 was fine to re-establish my credit, but they screw you if you don't use it on a regular basis. Good riddance to them.

I think it is the other way though. If they do not make money off of you via interest because you are not using the card then they want to charge you a fee.
It makes no sense because an account with zero not being used does not cost them money- except they pay someone to say that to you, what they mean is, they are not making money off of you.

But, it sounds better if they say, it costs us rather than to say, you make us no money.

The truth is, if you use the card for say a 10.00 purchase & pay it off each month, that will cost them more in billing & labor than it sitting at zero & then it would cost them.

I think I have that right.

[Boscoe]

JP's post and its inference makes no sense. Sure the bk was filed, Crap 1 knew about it, still offered the card to the user.

The terms of the cc were disclosed, the user accepted them. Then, because the user was paying in full each month, Crap 1 decided to change the terms and bill a fee.

So, don't blame the users. Crap 1 is called Crap 1 because of issues like this. Don't forget, they had to be shamed and harrassed into reporting credit limits to the CRA's.

[jp2861]

JP's post and its inference makes no sense. Sure the bk was filed, Crap 1 knew about it, still offered the card to the user.

The terms of the cc were disclosed, the user accepted them. Then, because the user was paying in full each month, Crap 1 decided to change the terms and bill a fee.

So, don't blame the users. Crap 1 is called Crap 1 because of issues like this. Don't forget, they had to be shamed and harrassed into reporting credit limits to the CRA's.

You're exactly correct when saying the terms were disclosed. Users need to read them before accepting the offer.

The poster makes claim that Cap1 "screwed" him. I still don't see it. He was granted credit right out of BK. He wasn't using the card and the bank wasn't making anything off him. So either pay the fee or close the card. So, for 3.00 a month the poster had 2500 in available credit. Obviously he thought that was too much to pay to keep the credit limit available for an emergency, or whatever. This is just me thinking, but for that amount I think the poster screwed himself out of the available credit.

Keeping 20 or 30 on the card at all times may have avoided this situation. Either way, paying a 19 dollar fee a year (what they quoted me yesterday) is a small price to pay for keeping an available credit line open. Especially for someone with a BK on their report.

Maybe, what some fail to understand is that credit is not a right, nor is it free.


Note: I'm not trying to slam anyone in particular with my comments. Just bringing up some ideas to think about and further the discussion.

[Boscoe]

JP - So did this poster send you the terms and conditions that Crap1 sent him? They are not necessarily the same for everyone, and I didn't hear him say that Crap1 required that he keep a balance or they will charge him an annual fee.

It is too bad that you are so hostile towards those of us that filed bk. I was offered no annual fee cards shortly after being discharged and, yes, Crap1 was one who offered it to me. Nowhere did it have those kind of terms.

Filing BK is not a terminal disease and it disappoints me to hear anyone suggest that we are so very lucky to get even one offer of credit after discharge.