[NA] Mastercard Question

Keith Lane

Keith Lane

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Feb 25, 2005
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Conyers, Georgia
Display Name
Keith Lane
For many years we have had a Citigroup Mastercard in our household. Recently, we noticed that our card "was not authorized", mysteriously. We don't carry a balance (we are "deadbeats") and never have been late, so we investigated. Seems that BofA :hairraise:has taken over the card, and because our card also was a Upromise® card, it will be "10 to 14 business days" before the card can be reinstated or we can see any statements regarding the account. This is kind of important, because the Upromise thing hasi minor tax implications for us. We have not even used the card under BofA yet and I already don't like the way they do business.
What recommendation can you give for a card such as Capitol One, or other. I have an AMEX card, but places often don't accept AMEX dur to the higher merchant fees, the fuel farm at the airport where I'm based being one.
 
I have a Capital One card and have had it for a long time. I have a low interest rate on it, not that I carry a balance or anything. But there fees have been reasonable as compared to BoA. One annoying thing is that they constantly fraud stop my card when I am overseas. I have to call and have them unlock it and ***** at them for yet again doing that. I ask them if they have any sort of profile that they can put me on that shows I am a frequent traveler who does charge overseas. They say they do but then the next time I charge......rinse repeat.
 
smigaldi said:
I have a Capital One card and have had it for a long time. I have a low interest rate on it, not that I carry a balance or anything. But there fees have been reasonable as compared to BoA. One annoying thing is that they constantly fraud stop my card when I am overseas. I have to call and have them unlock it and ***** at them for yet again doing that. I ask them if they have any sort of profile that they can put me on that shows I am a frequent traveler who does charge overseas. They say they do but then the next time I charge......rinse repeat.
Click to expand...

They are probably using an automated Fraud Detection system which looks at transactions and is setup to block and PO the actual users in the hope of stopping some actual fradulent transactions.
 
Do you qualify for USAA? If so, look there. As an alternative, there are still some independent bank providers of credit cards - if you live around a bank that issues/handles their own, go that route. A lesser option is where your local bank farms out the processing to a larger provider - they have incentive to fix any problems you encounter.

IME and the experience of friends, I'd rate things this way:

USAA
Credit union issued card
local bank issued card
local bank farmed-out card
smaller issuer that operates a national platform
Chase
Citi
.
.
.
BoA.
 
smigaldi said:
One annoying thing is that they constantly fraud stop my card when I am overseas. I have to call and have them unlock it and ***** at them for yet again doing that. I ask them if they have any sort of profile that they can put me on that shows I am a frequent traveler who does charge overseas. They say they do but then the next time I charge......rinse repeat.
Click to expand...

Scott, part of my "crossing the pond" checklist is to call the Fraud Dept. of each card (I only carry 2 overseas) and advise them of my travel locations and dates. I have never had a card flagged. I know it's a PIA but
it works....
 
Capital One cheats their customers, big time. They do not report credit limits. They only report "High Balance". That cheats the consumer out of a better ratio of debt to available credit.

In reality, you may have $30,000 in available credit but $10,000 is via Capital One while the remaining $20,000 is with other issuers. Consider $10,000 in total credit balance among all cards. That makes your debt to available credit ratio 1:3. Since Capital One does not report the actual credit limit, a creditor (usually a computer) reviewing your credit sees a 1:2 ratio.

From my understanding, Capital One does this on purpose so it's more difficult for consumers to qualify for other cards and the consumer becomes more dependent upon Capital One. I dumped them two years ago.
 
CT Arrow said:
Scott, part of my "crossing the pond" checklist is to call the Fraud Dept. of each card (I only carry 2 overseas) and advise them of my travel locations and dates. I have never had a card flagged. I know it's a PIA but
it works....
Click to expand...
I am overseas every other month. Calling them is far more of a PIA. I use my Amex overseas almost elusively instead of VISA. Fraud detection should be based on patterns and profiles of the user not on a blanket policy. Most mobile phone companies and credit companies do this, but not Capital One, they are ok in every other way but this one.
 
KennyFlys said:
Capital One cheats their customers, big time. They do not report credit limits. They only report "High Balance". That cheats the consumer out of a better ratio of debt to available credit..
Click to expand...
My Capital One Card reports my credit limit. I can see it right on the bill.
 
smigaldi said:
I have a Capital One card and have had it for a long time. I have a low interest rate on it, not that I carry a balance or anything. But there fees have been reasonable as compared to BoA. One annoying thing is that they constantly fraud stop my card when I am overseas. I have to call and have them unlock it and ***** at them for yet again doing that. I ask them if they have any sort of profile that they can put me on that shows I am a frequent traveler who does charge overseas. They say they do but then the next time I charge......rinse repeat.
Click to expand...

I "had" a Capital One card, for the low rate balance transfer. Paid off the transfer and had not used it for over a year.

They elected to close my account because it was not being used.
 
BillTIZ said:
I "had" a Capital One card, for the low rate balance transfer. Paid off the transfer and had not used it for over a year.

They elected to close my account because it was not being used.
Click to expand...
Chase did that to us. :(
 
BillTIZ said:
I "had" a Capital One card, for the low rate balance transfer. Paid off the transfer and had not used it for over a year.

They elected to close my account because it was not being used.
Click to expand...

I paid off the card where the punk laughed at me when I told him the web site didn't handle my electronic payment properly. You know. What would I know about how computers and the internet works.

I was going to call to see if the account is still open. I think only accounts with recent balances show up on the credit report.

It looks like we really can't get away from BOA. If they buy my Citi cards it'll be the third time I dumped them.
 
KennyFlys said:
"Reporting" as in reporting to the credit bureaus.
Click to expand...
I am now looking at my Full Credit Report from Experian and my credit limit is reported there acuratly.

CAP ONE BK
Address:
PO BOX 85015
RICHMOND, VA 23285
(800) 903-3637
Account Number:
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Status: Open/Never late.
Date Opened:
03/1999
Type:
Revolving

Reported Since:
03/1999

Terms:
NA

Date of Status:
10/2007

Monthly Payment:
$89

Last Reported:
10/2007

Credit Limit/Original Amount:
$20,000
Click to expand...
The report then goes on to show my monthly balance for the previous two years.

Whoever told you that Capital One did not report credit limit was wrong.
 
smigaldi said:
I am now looking at my Full Credit Report from Experian and my credit limit is reported there acuratly.

The report then goes on to show my monthly balance for the previous two years.

Whoever told you that Capital One did not report credit limit was wrong.
Click to expand...
I had three cards with them with one through Lowe's. None of them reported a credit limit; only a "High Credit." That's not the same as a credit limit. So, either they changed things in the last couple years or... you're so special, they are reporting yours.
 
Back to the question at hand, get one through your credit union, if you are not a member, join. That is the best way to go, low interest rate, no fees and better service.
 
wsuffa said:
Do you qualify for USAA? If so, look there. As an alternative, there are still some independent bank providers of credit cards - if you live around a bank that issues/handles their own, go that route. A lesser option is where your local bank farms out the processing to a larger provider - they have incentive to fix any problems you encounter.

IME and the experience of friends, I'd rate things this way:

USAA
Credit union issued card
local bank issued card
local bank farmed-out card
smaller issuer that operates a national platform
Chase
Citi
.
.
.
BoA.
Click to expand...

Ditto. Or BECU (Boeing Employee's Credit Union). Both have great service and LOW rates.

Although my lowest rate card (on an account I've closed but am still paying off) is a Chase card at 7.6%. So, you still have to shop it around...
 
KennyFlys said:
Capital One cheats their customers, big time. They do not report credit limits. They only report "High Balance". That cheats the consumer out of a better ratio of debt to available credit.

In reality, you may have $30,000 in available credit but $10,000 is via Capital One while the remaining $20,000 is with other issuers. Consider $10,000 in total credit balance among all cards. That makes your debt to available credit ratio 1:3. Since Capital One does not report the actual credit limit, a creditor (usually a computer) reviewing your credit sees a 1:2 ratio.

From my understanding, Capital One does this on purpose so it's more difficult for consumers to qualify for other cards and the consumer becomes more dependent upon Capital One. I dumped them two years ago.
Click to expand...

Kenny,

Where are you seeing this? I have two CapOne cards, and just pulled a current copy of my report from two bureaus... both show my Balance, High Balance, and the Credit Limit correctly. Like you said above, maybe it was an old practice, changed since. Have you seen it recently?
 
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smigaldi said:
I have a Capital One card and have had it for a long time. I have a low interest rate on it, not that I carry a balance or anything. But there fees have been reasonable as compared to BoA. One annoying thing is that they constantly fraud stop my card when I am overseas. I have to call and have them unlock it and ***** at them for yet again doing that. I ask them if they have any sort of profile that they can put me on that shows I am a frequent traveler who does charge overseas. They say they do but then the next time I charge......rinse repeat.
Click to expand...

I just got a Capital One card before our trip to Australia in February. No problems with it there. I'd better not have any problems with it this summer (UK, Italy, Greece, Turkey, Egypt and Israel). I got it specifically for personal use when overseas as they don't charge a foreign exchange fee. I fired Chase back in 2001 for excessive foreign exchange fees on a trip in the UK. Oldest card in my wallet at the time.

Business travel is on my corporate Amex card. No problems there.
 
TangoWhiskey said:
Ditto. Or BECU (Boeing Employee's Credit Union). Both have great service and LOW rates.

Although my lowest rate card (on an account I've closed but am still paying off) is a Chase card at 7.6%. So, you still have to shop it around...
Click to expand...
Yeah, we had a couple at 5.9%. BOTH have raised their rates over the past six months. One of them (BoA), just last week!:incazzato:
 
Ghery said:
I just got a Capital One card before our trip to Australia in February. No problems with it there. I'd better not have any problems with it this summer (UK, Italy, Greece, Turkey, Egypt and Israel). I got it specifically for personal use when overseas as they don't charge a foreign exchange fee. I fired Chase back in 2001 for excessive foreign exchange fees on a trip in the UK. Oldest card in my wallet at the time.

Business travel is on my corporate Amex card. No problems there.
Click to expand...
I think it is the profile they have me under. But I cannot get the Indian help desk to change it.
 
gprellwitz said:
Yeah, we had a couple at 5.9%. BOTH have raised their rates over the past six months. One of them (BoA), just last week!:incazzato:
Click to expand...

BOA announced that they're raising all consumer interest rates to get rid of them. I heard they quoted 6.5% for a 30 year mortgage. They got the TARP money and they're keeping it to buy up more banks in their never-ending quest to buy more citizens to shaft.

Considering that BOA bought Countrywide, if you have a variable rate mortgage with them be very afraid.
 
It really depends what you're looking for in a credit card. I use them exclusively, since I get a lot of benefits (points, 1 additional warranty year, etc.).

I like the Citibank cards that give ThankYou points. Their service is pretty good - not as good as Amex's, but close. CapOne is horrible for points, and their service is lousy. Lots of subprime customers. Don't know why people use them.

-Felix
 
sba55 said:
I like the Citibank cards that give ThankYou points. Their service is pretty good - not as good as Amex's, but close.
Click to expand...
?????

I have a Citi Visa and a Citi Amex. What's the difference?

-Skip
 
sba55 said:
Nothing much, I was just responding to his question. He wasn't looking for an Amex because of fewer merchants that accept them....
Click to expand...

I actually use a Delta Skymiles Amex most of the time, and an corporate Amex for work. It's when merchants don't accept them, or I need Gas at the airport that the problems arise.
 
TangoWhiskey said:
Kenny,

Where are you seeing this? I have two CapOne cards, and just pulled a current copy of my report from two bureaus... both show my Balance, High Balance, and the Credit Limit correctly. Like you said above, maybe it was an old practice, changed since. Have you seen it recently?
Click to expand...
I closed those accounts almost two years ago. That was part of the reason why. But, here is what I have from when it was still active in September 2007.

attachment.php
 

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KennyFlys said:
I closed those accounts almost two years ago. That was part of the reason why. But, here is what I have from when it was still active in September 2007.
Click to expand...
Strange. The report I posted was form October 2007, only one month later. I am beginning to wonder if your issue was a credit reporting agency issue and not just a CapOne issue.
 
That particular report was Equifax. I'd have to dig into boxes to go back and pull others. But I had the same problem on all three at those times when I would pull all three for free under the law.
 
KennyFlys said:
That particular report was Equifax. I'd have to dig into boxes to go back and pull others. But I had the same problem on all three at those times when I would pull all three for free under the law.
Click to expand...

It may just be the way Equifax reports. The "big three" don't all have the same format and don't necessarily have the same information. It' good that you pulled all three, if for no other reason to spot errors or inconsistencies.

Gary
 
Gary said:
It may just be the way Equifax reports. The "big three" don't all have the same format and don't necessarily have the same information. It' good that you pulled all three, if for no other reason to spot errors or inconsistencies.

Gary
Click to expand...
Actually, I had never even noticed it was an issue until I heard it from a consumer reporter in Atlanta. Clark Howard was once commenting how Capital One uses that to hold on to customers. The next time I pulled all three, I saw no "Credit Limit" on each of the three for the same account listings.
 
KennyFlys said:
Actually, I had never even noticed it was an issue until I heard it from a consumer reporter in Atlanta. Clark Howard was once commenting how Capital One uses that to hold on to customers. The next time I pulled all three, I saw no "Credit Limit" on each of the three for the same account listings.
Click to expand...

Wow, almost makes it sound like they do/did this to SOME customers, but not all.
 
TangoWhiskey said:
Wow, almost makes it sound like they do/did this to SOME customers, but not all.
Click to expand...
It's a pretty sleazy trick that most consumers have no clue about. Creditors have no obligation to report all data, just that what is reported must be accurate.
 
KennyFlys said:
It's a pretty sleazy trick that most consumers have no clue about. Creditors have no obligation to report all data, just that what is reported must be accurate.
Click to expand...
Yet they reported my credit limit. Makes me think that they may be selectively doing it to hold some people to CapOne.
 
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