Capital One Platinum 0% November 2009

tpl288

Just wondering if anyone else has applied for this card and their response.

I have a very good credit history and when I applied for this card last week, I was turned down (with no reason given) but offered another one of their Credit Cards - 0% balance transfers and purchase to May 2009.

I told them to sod off as I think I can get better offers out there.

I think Capital One has been misleading in advertising. Any similar experiences out there?

tpl

nets_2

yep also applied last week for the November 2009 and was turned down and offered May 2009 instead..

YorkshireBoy

tpl288 wrote: »

I have a very good credit history

You may well (think you) have, but the card you applied for demands an "excellent credit history" as defined on their website. Do you have one of those?

I told them to sod off as I think I can get better offers out there.

Lets hope the wasted Capital One search doesn't impact too heavily on acceptance/credit limit given with the next one you apply for.

Any similar experiences out there?

Loads. Capital One's 'rate for risk' policy has been discussed at length recently. A search of this board over the last month or so will find many similar experiences.

joewa

hi,i also applied for it and got turned down and offered the platinum one, no thank you was my response

Swans1912

The OH does have an excellent credit history but also got refused for the card, offered the 6 month card instead!

Moggles_2

iKennett wrote: »

The OH does have an excellent credit history but also got refused for the card, offered the 6 month card instead!

Does your partner meet the criteria listed on the C1 website (e.g. have a credit card with credit limit of at least £5000, held a card for 5 years etc.)? It's that definition of an excellent credit history which YB alludes to in #3

LongTermLurker

no problemo

LongTermLurker

Moggles wrote: »

Does your partner meet the criteria listed on the C1 website (e.g. have a credit card with credit limit of at least £5000, held a card for 5 years etc.)? It's that definition of an excellent credit history which YB alludes to in #3

Bear in mind also that excellent (or even good) credit history isn't the same as never borrowing - to have an excellent history you need to have borrowed, payed back and managed money over an extended period of time. If you haven't been recorded, you have no history, which is the key word.

The more you've borrowed, and the more you've paid back as agreed, the better you stand.

ShreksBodyDouble

I applied for this Capital One card (the Nov09 one) and was refused it. I wasn't given the decision online - the session timed out which was really annoying and I thought it had failed - but I got a letter this morning saying although I was turned down for the Nov09 one, they are offering me another 'platinum card' with 0% on purchases and transfers till May 2009. APR 19.9% thereafter. As I've never had a credit card before this seems a good deal - and will give me 9 months to pay off the new TV we need without paying over the odds.

NickX

ShreksBodyDouble wrote: »

As I've never had a credit card before this seems a good deal

As you have never had a credit card before I am not surprised that you did not get the November 2009 card. It requires an "excellent" credit rating and part of their criteria for this is that you already have a card with at least a £5000 limit.

bermondse1

Can I add a me too!

Despite being in the top 10% of earners in the UK, having low outstanding mortgage debt, no blemishes on my credit file, I'm beginning to feel like a financial pariah when it comes to getting decent credit! :mad:

I've already been turned down by Egg for a mortgage this year, and despite meeting all Capital One's criteria for "excellent" I still got offered the May '09 deal not the Nov '09 deal...

In fact the May '09 terms are worse than any other "headline" rate for a Capital One card that I've found on the web (both their own website and moneysupermarket.com)

So who exactly are getting the good deals?

ps - Forgot to mention - the balance transfer terms are worse than what Capital One were offering me on the card that I cancelled a few weeks ago! Might submit an appeal and see how far than gets me...