A "funny" about Crapital One

[IamOld]

Well, I just wanted to share this with everyone - hopefully.maybe it brings a few smiles - ok - fingers crossed filing for MY 7 next week but...

I got LITERALLY 18 (eighteen) emails today in two bursts from them to take advantage of a special offer to pay the cc :-)

[ecoastbound]

Yeah? Tell them you've got an even better "special offer" for them and they'll be getting it in a few weeks.

[IamOld]

LOL!!!!! I was thinking about sending them an email back!!! What's funny too is that one set of emails asks for $102 another set for $101....

[ecoastbound]

I've gotten so many of those offers in the last 8 months. "Were willing to accept 60%...just send us $8000." Sure, I'll get right on that. If I had $8000 then I would have been making payments on all my debt. Then the next week they're willing to take just 50%. Anyway, they never got a dime from me. Filed chapter 7 on July 29, had our 341 meeting September 2 and now just waiting......

[sunshinepa]

Yahooooooooooo on getting filed next week. Been watching posts for the day you can get filed!!!! And love ecoastbounds reply, great idea!!!

[ohiogal]

Capital One is so odd.

In 2010 I filed bankruptcy, and Capital One was included in the petition. They lost a couple of thousand dollars when I was discharged.

About a month after my discharge, I got a cc offer from them. I decided to make them my one "emergency credit card", and signed up. Got a card with a credit limit of $500.

It came in handy when one of my cats had a medical emergency. I ended up with a $400 balance, paying it down $100 a month (way above the $15 'minimum'. Ha! I'm done with THOSE days!!)

As soon as I put that amount on the card, my available credit was raised to $750. I ignored it.

Now it's almost paid off, and guess what? I got a notice in the mail that my credit limit had been raised to $2500!!!!

The fools! I already bailed on them once - do they think I'm going to fall into their cc trap again? Not a chance!

I'm debating whether to contact them and insist that they lower my limit to something like $1000, or leave it where it is in case my car needs repairs and/or one or both of my cats has another emergency (they're both 12, and you never know...) I'd rather have a cash reserve of course, but I've been dealing with paying for expenses tied to my father's passing last year and that hasn't been possible.

I'm just flabbergasted that Capital One is so eager to get me back in debt again. Or maybe angry is the word. How many people go through bankruptcy, then get these cc's and get sucked right back into the debt pit again? The cc's make is so EASY! Bleh...

[mountanddo]

Capital One is so odd.

In 2010 I filed bankruptcy, and Capital One was included in the petition. They lost a couple of thousand dollars when I was discharged.

About a month after my discharge, I got a cc offer from them. I decided to make them my one "emergency credit card", and signed up. Got a card with a credit limit of $500.

It came in handy when one of my cats had a medical emergency. I ended up with a $400 balance, paying it down $100 a month (way above the $15 'minimum'. Ha! I'm done with THOSE days!!)

As soon as I put that amount on the card, my available credit was raised to $750. I ignored it.

Now it's almost paid off, and guess what? I got a notice in the mail that my credit limit had been raised to $2500!!!!

The fools! I already bailed on them once - do they think I'm going to fall into their cc trap again? Not a chance!

I'm debating whether to contact them and insist that they lower my limit to something like $1000, or leave it where it is in case my car needs repairs and/or one or both of my cats has another emergency (they're both 12, and you never know...) I'd rather have a cash reserve of course, but I've been dealing with paying for expenses tied to my father's passing last year and that hasn't been possible.

I'm just flabbergasted that Capital One is so eager to get me back in debt again. Or maybe angry is the word. How many people go through bankruptcy, then get these cc's and get sucked right back into the debt pit again? The cc's make is so EASY! Bleh...

Well, it seems that you have learned a thing or two as you were able to pay off your balance $100 at a time instead of the $15 minimum which was smart. I'd keep the credit limit as I think it raises your credit score a bit - debt to credit ratio or something like that. Maybe you could just "pretend" you have a $1000 limit??

[IamOld]

yahooooooooooo on getting filed next week. Been watching posts for the day you can get filed!!!! And love ecoastbounds reply, great idea!!!

thanks! !!!!!!!!!

[JackBondLove]

I have one of those $500 limit CapitalOne CC's as well (now $750.) When a CapitalOne rep told me that I could get free luggage insurance by using my CC for paying for flights, I told her it had too small of a limit to buy a ticket (I only fly internationally.)

[ohiogal]

I have one of those $500 limit CapitalOne CC's as well (now $750.) When a CapitalOne rep told me that I could get free luggage insurance by using my CC for paying for flights, I told her it had too small of a limit to buy a ticket (I only fly internationally.)

Check your statement. I'll bet CO raises your limit like they raised mine. They WANT you use that card! If they think you'll use it if they up your limit, that's what they'll do. If you book expensive flights on the card, that's free money for them because you'll be paying interest. Of course, raising your limit doesn't cost them anything.

[mountanddo]

You know I hadn't even thought about this, probably because I am naive, but do you think credit card companies target people who have filed bankrupcy knowing that they can't file for another some years? I got CC offers only a couple of months after my C-7 was discharged.

[feelingnutsy]

There's no doubt about it---we're sitting ducks---so to speak---
but whether we quack for the card or not is another story altogether.