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  • MP80

  1. Er, sort of: However, while the number does work, I gave them a bell just now and got the same wretched "system update" recording with an exhortation to call them back at a later, unspecified time. I am sorry I could not be of more help.
  2. When you get a chance, would you please consider posting about your application experience? I ask because I am wondering if, perhaps, the delay you experienced may be indicative of a sudden new wariness card companies feel in the current economic environment when it comes to granting new lines of credit. (Even so, I cannot think offhand why it would take them an entire month to process an application in 2022.)
  3. You may, perhaps, want to consider keeping it open. What I mean is: by keeping the account open, and using it to invest in a pack of gum every six months, you may be able to tie up that tradeline and Comenity cannot make that credit available to anyone else. Close it, however, and it frees it all up for them. Where is the fun in that? I am not seeking to talk you into maintaining a card you do not like. Rather, I am suggesting that, by keeping the account open, you are playing a game of "keep away" with them potentially worth thousands, perhaps tens of thousands, of dollars. (It is the sort of thing a perfectly awful person would do. Should anyone ever ask, you did not hear it from me.)
  4. Thank you for the reply. This is exactly the sort of thing I am worried about. I understand Cap One may come in handy when someone is rebuilding credit and has few choices open to them. However, your story confirms my general impression of them as the sort of outfit that is best dealt with as briefly as possible and relegated to "pack of gum" status at the first opportunity. Had Cap One subjected me to the same experience they subjected you to, I would have had a picture of their CEO up on a dartboard in no time.
  5. Thank you for the clarification. As usual, the only thing certain...is that there is very little that is certain. Earlier you mentioned: Agreed. I long-ago learned that applying for credit cards/CLIs in a hurry due to circumstances is a poor way to play the credit game. In this case, I am trying to gather information for an older chum who has a single card issued by....ah, you have already guessed! The problem is not so much that they have a single card, but that they have refused to pick up any others. I have been up and down with them about having how a card does not necessarily equate to carrying a balance, etc., but to date my advice has fallen on deaf ears. Therefore, I was hoping to get a better idea of what they might expect in the hopes of preparing them for when the ax falls. It sounds as though the best advice I can hope to give is something along the lines of, "Cap One may halve your tradeline, cut it by 3/4, cancel it altogether...or leave it alone entirely. There is just no telling." As you say, Cap One is fond of handing out CLDs when things go pear-shaped and I am afraid that this person's stubbornness is setting them up for a sharp disappointment. However, I realise only so much can be given in the way of advice before one is forced to throw up one's hands and accept things as they are rather than how one would wish them to be. (The process is tantamount to watching Lucy yank the football away from C. Brown, but with the whole affair taking place in slow motion.) Any road, I am hoping that, between my (gently) urging them to get their credit house in order and the signs that the US economy is heading in a southward direction becoming unmistakable, they will actually feel compelled to do something to put themselves in a better position, even if their timing leaves a great deal to be desired.
  6. Was the opting out process as simple as a single phone call to customer service to tell C1 "Please, no"? Or, rather, did the phone call mean the caller could expect a face a battery of questions to prove that s/he was worthy enough to keep their current line of credit with Cap One?
  7. How does a 16 point drop compare to the average number of points a CC application drops a typical credit score (e.g. 16 points = 2 queries)?
  8. Rather than viewing CC rewards as "money in the bank," perhaps they might more accurately view them as money lying on the sidewalk outside the bank, and act accordingly.
  9. Can you please clarify what you mean by "opting out"? I am afraid I am not familiar with that phrase in the context of avoiding CLDs. Were I to guess, I would guess that by "opt out," you mean that, in exchange for not having their line of credit reduced, they are foregoing any opportunities to have it increased. Do I miss my guess?
  10. I am hoping a few board members can chime in with their Cap One experiences regarding the following: A) How did Cap One treat cardholders during the 2008-ish timeframe? B ) How does Cap One generally treat people who have underutilised tradelines with them (e.g. under 10% util)? With the credit market apparently undergoing a tightening phase (to say the least), I am trying to form a better idea of what cardholders might expect from Cap One in the months ahead. I have some general impressions, but I would be grateful for feedback from accountholders about what experiences (good or bad) they have had with the firm.
  11. Speaking of the latter, I spent an embarrassingly long time being bemused by PayPal's constant exhortations of "EZ" credit after I logged in to pay for some naff gewgaw. PayPal giving me the ability to spread out payments on, say, a $30 item is a good idea? Really? (PayPal seemed to think so, anyway.) One of these days, it will finally penetrate my sheet tin head that there is no longer any such thing as economic growth. The only "growth" left is credit companies concocting new schemes to get people to pay twice for the same item.
  12. Do the terms of the cardholder agreement indicate whether the cardholder is obliged to shout: L-I-V E-R-P Double-O L Liverpool FC! ...every time they use the card?
  13. The difficulty seems to lie in the ability to distinguish between how things appear and how they actually are. The tendency nowadays is for people to moan about the "unfairness" of things they do not understand. If you were to ask the sort of person who has never taken out a payday loan (and is unlikely ever to need to) whether the payday loan establishments are fair in their dealings, the answer is likely to be a resounding "no." However, if you were to ask the sort of person who does have to worry about taking out payday loans whether those establishments are fair, they would likely tell you "yes." This is because they understand through hard, first-hand experience that payday loan firms and check-cashing are not necessarily the bad deal they may seem if one is only giving them a cursory glance as opposed to actually having to figure out how to come up with the rent from month to month. It can be quite surprising how many people are experts in their own survival and are capable of recognising, if only instinctively, what constitutes a "good deal" and what does not.
  14. Concur. However, the emphasis in the West tends to be on the new and exciting vs. the old and reliable. So while I agree that not everyone is looking to take on new debt, if I had to guess, I would estimate that "conservers" such as yourself may make up, say, 20% of the population and "consumers" make up the remaining 80%. Yes, but how many people nowadays are willing to do the math (or, perhaps more importantly, are capable of doing the math) to help them determine whether purchasing/hanging on to an older vehicle makes more sense than purchasing a shiny new vehicle from the showroom? Put another way: when you are already "in the hole," so to speak, what does more debt mean to you? I am not saying that I find fault with what you are doing (quite the opposite). I am only asking, "Yes, but how many people are smart enough to purchase/make do with older vehicles vs. buying shiny new ones"? I do not doubt that some people are. However, I suspect that such people tend to be in the minority.
  15. Is there a thread you could direct me to where you have written about this? I ask because, while I cannot say I hate Citi, I cannot say they are my favourite CC firm, either. I would be interested to hear what you have to say about them, as this may serve as the impetus for me to find a different 2% everyday spend card.
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