Capital One sent me an offer for a pre-approved Preferred Plus Platinum MC with a credit line of up to $5000.
But I already have a MC with Capital One and had one for the past two years.
I mean I'd prefer that they just raise my credit limit on my old card instead of another account. So why are they doing this? Is there an advantage for them somehow? It's a no annual fee card.
2006-07-18 12:41:31 · 11 answers · asked by Anonymous in Business & Finance ➔ Credit
The pre-approved offers are just pre-screened offers using certain search criteria (such as a certain income amount, at least 18 years old, etc). They don't really specialize the offers for each person. so basically they mass send them out and you just happened to be one of the people they sent them out to. They aren't offering you an increase in credit and when they sent them out they probably didn't even realize you were a customer.
2006-07-18 12:58:22 · answer #1 · answered by Sweetask 6 · 0⤊ 1⤋
I know someone who cancelled his card with them because they decided to drop his credit limit at a dimes notice, which left him $2000 over and then they wanted amount in full cause he cancelled. His balance ended up going from $9,000 to $26,000 cause he couldn't pay the over the limit amount right away and they started demanding payment in full. Since he couldn't pay in full, they tacked on all kinds of late payments, over the limit fees, and interest. They are HORRIBLE.
2006-07-18 12:57:57 · answer #2 · answered by Angela 2 · 0⤊ 0⤋
They (and other credit card companies) are sending out these mass mailings to everyone, several times a week. The mass mailing department doesn't talk to the existing cardholder department.
2006-07-18 13:24:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
They just want to make money. Usually when you get those "pre-approved" things, you're not really pre-approved. They just want you to sign up for another card so they get more money out of you.
2006-07-18 12:44:32 · answer #4 · answered by corbeyelise 4 · 0⤊ 0⤋
they are a big company, agressive, call sometime and explain. I bet they have a digit somewhere out of place and think you are 2 different people ! This is a good company, knows how to do what they do !
2006-07-18 12:51:05 · answer #5 · answered by Ace 1 · 0⤊ 0⤋
DO YOURSELF A FAVOR AND GET RID OF CAPITOL ONE! IT TOOK ME A YEAR AND A HALF TO CANCEL A CARD I USED TWICE AND PAID BEFORE THE BILL CAME IN! THEY ARE THE WORST. GOOGLE "CAPITOL ONE SUCKS" FOR SOME HORROR STORIES!
2006-07-18 12:47:11 · answer #6 · answered by Thom 4 · 0⤊ 0⤋
call them and ask they probley just made a mistake i like capitol one they have low apr and no annual fee
2006-07-18 13:18:55 · answer #7 · answered by cookie 2 · 0⤊ 0⤋
That happens to me also. I think that their mailing list for advirtisement is different from their list of cardholders.
2006-07-18 14:23:52 · answer #8 · answered by amyvnsn 5 · 0⤊ 0⤋
that you won't pay off the balance every month and then they can CHARGE YOU an unrealistic interest rate, which your liable to pay.
2006-07-18 12:44:17 · answer #9 · answered by Anonymous · 0⤊ 0⤋
to get a higher interest rate and make you pay more
that's how they make their money
2006-07-19 05:27:11 · answer #10 · answered by christiansareawesome 4 · 0⤊ 0⤋