Capital One Appeals?

Beancounter

Both my wife and I applied for the 18 month C1 deal but got offered the 6 month instead. I am about to appeal this decision for the heck of it really.
1/ Is there much point in appealing, are they likely to change their mind?
2/What should I write in my letter?

Beancounter

Got a letter ready to go.....more a moan than an appeal but makes me feel better. Has anyone else appealed then?

Reaper

I know that when a company advertises a "typical" APR it must give that APR rate to at least 50% of applicants.

I have no idea whether other incentives such as 18 months at 0% are covered by the same rules, but I would have thought so. You might try asking them what proportion of people have been granted it. There do seem to be a lot of disappointed people around.

Xbigman

Reaper wrote:

I know that when a company advertises a "typical" APR it must give that APR rate to at least 50% of applicants.

I have no idea whether other incentives such as 18 months at 0% are covered by the same rules, but I would have thought so. You might try asking them what proportion of people have been granted it. There do seem to be a lot of disappointed people around.

Didn't that percentage go up recently? I think its now 66%.

I'd certainly send a letter with an appeal. Quote the original offer. Express your extreme disapointment and say you consider this to be false advertising and tell them you are considering a complaint. Apart from that I don't think you have many options.
Regards



X

Rafter

67% have to get offered the typical APR now.

Capital 1 seem to be bypassing this rule by 'counter offering' with a completely different 0% offer for a shorter period.

The typical APR isn't impacted by the 0% period since it only related to the standard rate after the offer is over.

Was accepted on the 18 month deal but not optimistic about what credit limit I will get.

R.

Beancounter

Xbigman wrote:

Didn't that percentage go up recently? I think its now 66%.

I'd certainly send a letter with an appeal. Quote the original offer. Express your extreme disapointment and say you consider this to be false advertising and tell them you are considering a complaint. Apart from that I don't think you have many options.
Regards



X

Thats more or less what I have put in my letter to them. I suggested to them that the percentage of people offered the 18 month card seems to be considerably lower than the 66% requirement (if postings to this forum are anything to go by)

I will be holding onto the letter till my wife gets her 6 month card and credti limit sorted out first, just incase they spite her

Beancounter

Rafter wrote:

67% have to get offered the typical APR now.

Capital 1 seem to be bypassing this rule by 'counter offering' with a completely different 0% offer for a shorter period.


R.

The typical APR on the 18 month leaflet is 13.9% variable while the APR on my offer is 15.9% variable so they can't even get out of jail with that one then either?

roaming_rhino

I applied for the 18 month offer and got 6 months instead

I have appealed in writing but dont expect them to overturn it
I think its partly cos I closed a capital 1 card 4 months ago

sent in a copy of the offer as I was told no such offer exists (twice)
sent a copy of our last 3 wage slips/bank statements
sent in a copy of our credit score from experian which was 976 out of 1000

and a quite snotty (get it off my chest letter ) saying its 18 months @ 0% or they can stick it up their proverbials

dawny10

I got offered the 6 month card last time the leaflets for the 18 month card were around (October/November 2004). I appealed in writing - I gave a summary of my income and outgoings and explained why I held other credit cards etc.

I didn't get any reply for 2 months so wrote again and got a letter back asking me to ring them. I rang, answered a couple of questions and was then told my appeal was successful but because the 18 month card was no longer available (it was February by this time!) the best they could offer was 9 months.