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Thread: For anyone with a Crap1 card

  1. #1
    AudreyLeigh
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    Default For anyone with a Crap1 card

    This is a backdoor number (retention center), its where you call get an actual person without pushing buttons. They are very very nice and will up your limits, lower your apr or even merge cards you already have (take 2 $500 and make them one $1000) so you have a higher credit limit which means when you apply for credit youll get higher limits.

    I got my cards merged (keeping one with oldest reporting tradeline).

    Called back 2 days later and got my APR that was just lowered 2 months before lowered again.

    I shall call these very nice people in another 3 months for a credit limit increase.

    (I have numbers for almost every CC company or bank you can think of. Recon and Retention numbers)

    Heres Crap 1s 800-889-9939


    *I think I found a new addiction to add to SW...

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    Default Re: For anyone with a Crap1 card

    Thanks a ton!!! I'm on the rebuilding credit path like you wouldn't believe. In fact, i read your post earlier about the FAKO vs FICO bc I check mine regularly. Any tips you know of to help boost my scores? Or easy approvals?

  3. #3
    AudreyLeigh
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    Default Re: For anyone with a Crap1 card

    Well, are you looking for a huge boost right away for a large purchase or are you looking for a long term steady rise in your FICO?

    Easy approvals - all subprime (sockdrawer cards) with high interest rates. These are builder cards... meaning you get them, build up some credit then apply for better cards. You use each card once every couple months to keep them open and try to get credit increases and lowered APR... if you dont use them theres a high probability they will be closed.

    Theyre also a great way to give yourself more revolving credit... which you need to keep your debt to credit ratio down (preferably under 10%)

    Kay Jewelers

    CapitalOne

    Hooters Card

    Home Depot

    Target

    Orchard Bank

    Household

    Discover

    Stay far far far away from Premiere, Applied Bank.

    Read the terms before you apply... some have very very high yearly fees. Anything with a monthly fee is a no go

    Your FICO will take a hit from too many inquiries and too many new creditlines for about a year. So if you want a quick FICO boost I wouldnt recomment opening a bunch of lines of credit. Im looking long term so its no biggie to me.

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    Default Re: For anyone with a Crap1 card

    Thanks, AL!!! And hey, you read creditboards, too?! It has helped me quite a bit. I am looking for long term increase as well. I do have some of the cards you listed, but haven't seen a big change in my FICO )I know the debt to income effects, so I use them but keep balances around 10-20% or so)....Perhaps I'm still in the whole-lot-of-inquiries phase aftermath....

  5. #5
    Veteran Member Luxurious1's Avatar
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    Default Re: For anyone with a Crap1 card

    OMG, AL!!!! you are such a lifesaver today!!!! I've been trying to get a charge disputed(charged me twice for one thing) and I just got through to this number. Im gonna try to get my CLI also!! (Ive had the card for over 2 years, ive had one late charge the first time i used the card, and im STILL at $300 limit)

    THANK YOU!

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    Default Re: For anyone with a Crap1 card

    Oh thank you! They are such assholes when I asked to have my little limit raised and my apr lowered this last time. They wouldn't even budge not a dollar not a percent.
    you live like an ivy vine
    you can only survive by clinging onto trees
    that's your flaw
    put down some roots so you can stand on your own
    -Kenpachi



  7. #7
    Banned Melonie's Avatar
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    Default Re: For anyone with a Crap1 card

    Actually, it looks like the bosses at Crapital One have had a recent revalation in regard to 'long time' customers ... i.e. that arbitrarily and unilaterally raising their interest rate causes those 'long time' customers, at least those that have a decent credit rating and net worth, to simply pay off and stop using their Crapital One card in favor of a new card account from a different underwriter. The bosses have apparently also figured out that collecting 12 or 10 or 8 percent interest charges from a 'long time' customer on a regular basis is a lot better than NOT collecting 18 or 21 or 30% interest from a 'subprime' customer who goes bankrupt on both their credit card interest and balance !!!

    You may remember that I had a Crapital One Platinum card for many many years - and stopped using it last fall when Crapital One sent notice that the <10% fixed interest rate was going to be unilaterally increased to 13.9%. Well I tried your number, and after only 2 minutes of negotiating I got a fixed 7.9% interest rate applied to the same card - which equalled the lowest interest rate I could find on a substitute card through a local credit union !!!! Thank You.

  8. #8
    AudreyLeigh
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    Default Re: For anyone with a Crap1 card

    Welcome all!

    If anyone has other CCs they want recon numbers for let me know, I probably have them.

  9. #9
    AudreyLeigh
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    Default Re: For anyone with a Crap1 card

    Quote Originally Posted by Big Texas View Post
    Thanks, AL!!! And hey, you read creditboards, too?! It has helped me quite a bit. I am looking for long term increase as well. I do have some of the cards you listed, but haven't seen a big change in my FICO )I know the debt to income effects, so I use them but keep balances around 10-20% or so)....Perhaps I'm still in the whole-lot-of-inquiries phase aftermath....
    FICO takes into consideration the age of cards so as these mature and the inquiries arent so new your FICO should start rising. Theres also a way to get rid of inquiries too... im working on that. Lots of people get ALL TU inquiries off and some EQ, EX is another matter tho. You can read about it here:

  10. #10
    Yekhefah
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    Default Re: For anyone with a Crap1 card

    Got one for Citicards? I have a student Visa I got in 1997 and I despair of ever paying it off because the interest is fucking insane. Every month the balance actually goes UP. I owe over $5000 on that card and I'd do anything to get rid of it. If there's a number where someone can help me, I'd sure love to hear about it.

  11. #11
    AudreyLeigh
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    Default Re: For anyone with a Crap1 card

    Heres all I got

    State Farm Bank 800-317-9758
    GEMB 866-246-4282
    Citi 866-797-5757 fax Presidents Office 972-653-3103
    US Bank 800-947-1444
    Merrick 801-545-6705
    InfiBank 866-727-9632
    BofA 866-865-7842 or 602-597-4449
    Juniper 866-408-4064
    Chase 800-480-1870
    Discover 888-676-3695
    Wamu 888-665-2666 Dial 0
    FIA 866-472-4142


    Best Buy: 888-237-8289 (customer care)
    Best Buy: 800-365-0292(CSR)
    BoA: 800-732-9194 (dept. unknown)
    BoA: 866-865-7842; 866-506-5067 (Credit Dept. Analysts/Recon)
    BoA: 302-741-1825 (Recon)
    BoA: 800-421-2110 (for cli ? )
    Cap1: 800-951-6951 (cust. relations)
    Cap1:-800-548-4593 (application department; status)
    Cap1: 800-889-9939 or 800-625-7866.(Account Specialist)
    Cap1: 877-513-9959 (Account Retention?)
    Cap1: 800-427-9458 (Fraud department. They take ALL calls seriously!)
    Cap1: 800-258-9319 (Debt Recovery)
    Chase: 800-432-3117(App status)
    Chase: 800-648-5588 or 800-945-2006 for APR decrease(Card Services)
    Chase: 877-781-3109(combining & product change)
    Chase: 888-245-0625 (Credit Analyst - Recons)
    Chevron: 801-743-2030(Credit Dept)
    Citi: 800-950-5114 (Account Specialist)
    Citi: 888-201-4523 (Approval Status)
    Discover: 888-676-3695(Recon)
    HSBC: 800-694-9222 (cust. service)
    HSBC: 831-755-6699 (executive customer service)
    HSBC(M.C.)888-385-8916
    Hooters: 801-545-6705 or 800-850-4668
    J.C.Penny:866-239-4362 (credit services)
    Juniper: 866-408-4064 (Credit Analyst)
    Macys: 1-800-243-6552
    National City: 800-762-0974 (Credit Dept.
    Orchard: 800-395-6090
    V.S.: 800-695-9458
    WaMU CSR: 800-356-0011, or 800-280-9441; 888-687-2273.
    WaMu: 800-687-2273 (Applications/New Accounts)

  12. #12
    Veteran Member Luxurious1's Avatar
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    Default Re: For anyone with a Crap1 card

    So, I called earlier and got my credit limit increased to $600!!

  13. #13
    AudreyLeigh
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    Default Re: For anyone with a Crap1 card

    Call back next week and ask for a lower APR. Then wait 3 months and ask for another credit increase.

  14. #14
    Yekhefah
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    Default Re: For anyone with a Crap1 card

    Hey, thanks! I'll call on Tuesday!

  15. #15
    AudreyLeigh
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    Default Re: For anyone with a Crap1 card

    Hope it works! I dont have a Citi card so Ive never called but Ive heard great things about account specialists.... let me know how it goes.

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    God/dess CKXXX's Avatar
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    Default Re: For anyone with a Crap1 card

    Awesome! I've been trying to call for weeks and cant ever get a human on the line. Thanks!

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    Banned MissTaylor's Avatar
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    Default Re: For anyone with a Crap1 card

    I just got my interest rate lowered from 14 to 12%. I don't want more credit though, haha.

    How long can I wait to ask for a credit increase? My boyfriend has hidden my cards from me (at my request) so I should be fine with an increase.

    Than you Audrey!!

  18. #18
    AudreyLeigh
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    Default Re: For anyone with a Crap1 card

    ^^^ a couple weeks. The reason you want more credit is to lower utilization. If your cards have low balances than you dont need more credit. I personally had 1 cc that was maxed out along with CareCredit where 1/2 was used. That gave me 75% utilization. I added more cards (not using them) to give more available credit and lower my utilization down to 25%. BUT if you are going to USE the cards then DONT GET MORE CREDIT!!!

    Im waiting a couple months to ask for a credit increase but thats because I had a payment that was a day late a few months ago and with Cap1 after 6 months of perfect payments you can typically get a CLI.

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    Banned MissTaylor's Avatar
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    Default Re: For anyone with a Crap1 card

    On Cap1 I had a 300 limit for the longest time. Then one day they raised my limit to 2800 dollars without me even asking.

  20. #20
    Banned Melonie's Avatar
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    Default Re: For anyone with a Crap1 card

    Im waiting a couple months to ask for a credit increase but thats because I had a payment that was a day late a few months ago and with Cap1 after 6 months of perfect payments you can typically get a CLI.
    Following up on my post from a month ago, it appears that the bosses at Crapital 1 are still trying to aggressively 'recapture' credit card customers with good credit ratings that they unilaterally pissed off last fall by unilaterally hiking interest rates to 'sky high' 13.9% levels (that's sky high for prime credit card borrowers anyhow). As you will recall, right after they did this last fall, I promptly paid my Crapital 1 card balance off in its entirety and managed to apply for and get a new 7.9% fixed rate card through a local credit union. As you may also recall, after AudreyLeigh posted the magic phone numbers last month, I managed to renegotiate the interest rate on my Crapital 1 card down to a matching 7.9%.

    During the past month, probably out of 'habit' if nothing else, I only charged a handful of things to my Crapital 1 card (although some of them were fairly expensive online purchases ... seeds and plants and dwarf trees for my new greenhouse etc.) and as usual I again paid off the balance in full. Well, totally out of the 'blue', today in my mailbox appears a Crapital 1 solicitation for an 'upgrade'. I called AudreyLeigh's magic number again today, and Crapital 1 has now lowered my card's interest rate to 5.9%.

    I'm not exactly sure what's going on with this 'change of heart' on the part of Crapital 1. I can only assume that they have come to realize that they need a base of 'prime' borrowers who will provide them predictable interest income with very low risk of default / bankruptcy more than they need shaky 'subprime' borrowers who will provide them with very high interest income - BUT ONLY IF THEY ACTUALLY PAY THEIR CC BILL - and can also hand them large outright losses of loan principal if those shaky 'subprime' borrowers file for bankruptcy (i.e. outstanding card balances being written off as losses)!

    In all likelihood this is probably linked to the fact that corporations / businesses have credit ratings just like individuals do, thus it's distinctly possible that Crapital 1 was on the verge of having their corporate credit rating lowered due to the 'high risk' nature of their loan portfolio. A downgrade in corporate credit rating would have made Crapital 1's cost of 'wholesale money' become significantly more expensive, which would have cost them a fortune in lost interest rate 'spread' profits. Such corporate credit rating downgrades have just been issued for a lot of financial companies, from GMAC to PMI.

    At any rate, it increasingly appears that would-be borrowers with bad credit ratings are seeing their chances of new loan approval drop like a stone and sky high interest rates if they do manage to get approved, while would-be borrowers with very good credit ratings are finally seeing some comparative loan bargains again now that lenders have (apparently) stopped trying to make good their 'subprime' losses on the backs of 'prime' customers ! Furthermore, I expect this trend to continue in earnest as the US economy slows down - likely resulting in more 'subprime' delinquencies and more bankruptcy filings on the part of 'subprime' credit card / auto / mortgage borrowers.
    Last edited by Melonie; 06-21-2008 at 02:23 PM.

  21. #21
    AudreyLeigh
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    Default Re: For anyone with a Crap1 card

    Mel - have you read any recent articles on AmEx doing CLDs on cards out of the blue? I think Cap 1 is trying to pick up customers that others are losing. Chase, Citi and AmEx have been cutting limits to just above what people have on their cards with no reason at all. No lates, no missed payments, not even using universal default. Just for no aparent reason. There are tons of threads on the credit forum about this. Ruins peoples credit because their utilization goes way up.

    For anyone who doesnt understand utilization or what that means...
    Joe has a $20k CC and has 4K charged on it. He is currently at 20% utilization - which is low so thats good. Out of the blue his cards limit is chopped to $4200 and he is now at 95% utilization. Bad Bad Bad.

    I feel really bad for these people... especially ones that were planning on making a large purchase.

    Seems a lot of companies are screwing people just so their risk level goes down even tho there is no reason to think these people would go and max out their cards.


    Im glad to see youre getting good stuff from the magic number! I need B to call them about getting his apr lowered...

  22. #22
    Banned Melonie's Avatar
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    Default Re: For anyone with a Crap1 card

    Chase, Citi and AmEx have been cutting limits to just above what people have on their cards with no reason at all
    ^^^ arguably there is a BIG reason. The analysts at Chase, Citi and Amex have looked at the charts on recently written (2004 on)variable rate Alt-A mortgages that are coming up for reset, have looked at the numbers on HELOC debt being racked up, have looked at the declining profitability of US businesses and industries, have looked at the charts and projections for oil and food prices, have looked at the election polls indicating a good probability of increased taxes on the 'middle class' etc., and have come to the conclusion that last year's concentration of 'subprime' mortgage delinquencies and bankruptcies is about to be replaced by a new wave of 'middle class' mortgage delinquencies and bankruptcies. Anticipating that bankruptcy courts will need 'drive-in windows' to handle anticipated future caseloads, these banks are trying to prevent Alt-A borrowers from 'postponing the inevitable' by racking up yet more unsecured debt via HELOCS and credit cards with which to temporarily continue making monthly payments that they ultimately can't afford / sustain - yet more unsecured debts which could ultimately become bigger losses / write-offs for the lenders.

    I'm sure that a lot of this also boils down to banks being seriously short of capital for new loans due to recent destruction of bank capital resulting from 'subprime' losses and write-offs, as well as banks being scrutinized in regard to the true financial risk held in their loan portfolios = bank corporate credit rating downgrades. Along these lines, several regional banks have been directed by regulators to go out and raise capital ... which unlike Citibank and the billionaire oil prince buy-in must be done via stock issue / dilution of shares. All in all, many banks do not have and are having a difficult time obtaining the capital necessary to cover new loans. And the worst of all worlds from the bankers' standpoint is to be forced to raise capital to cover 'new' loans which are actually increasing loan balances on existing HELOC and credit card accounts with a fairly high probability of eventual default and write-off.

    You can blame some of this on Washington DC too i.e. the policies included in 'bailout' packages. The politicians have been pretty clear that bankruptcy judges will have the authority to unilaterally reduce interest rates and unilaterally reduce outstanding loan balances (a.k.a. 'cram-downs') to relieve the burden on 'subprime' borrowers ... both of which guarantee that banks / lenders will be forced to take larger losses than anticipated.

    On the economic fundamentals side, these developments are precipitating a fundamental change in economic 'thinking' ... although most people have yet to realize it. These changes are revealing that another long standing financial 'assumption' is no longer true, with that 'assumption' being that having credit is as good as having savings. These recent unilateral shutdowns of unsecured credit lines, be it credit cards or HELOCs or anything else, only go to prove that credit is an illusion of wealth and there is no substitute for having actual money in the bank !!! Arguably, for the past 30 years most Americans have stopped saving money based on the assumption that they had sufficient credit to allow them to cover the cost of any emergency i.e. spending 'borrowed' money via pre-approved HELOC or credit card accounts. This 'assumption' must now change, as these recent unilateral cutoffs of such unsecured credit lines will force Americans to acknowledge that the credit that they 'think' they have available today can disappear by tomorrow !

    Back on topic, none of this really explains why Crapital 1 management has reversed direction and is now attempting to attract 'prime' credit card accounts by offering very favorable terms. My intuition tells me that Crapital 1 is 'on to something' that the other banks are missing out on, such that it might be time to think about buying some Capital 1 stock shares (again).

    ~
    Last edited by Melonie; 06-22-2008 at 06:15 AM.

  23. #23
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    Default Re: For anyone with a Crap1 card

    Thank you, I HATE calling their stupid line!

  24. #24
    God/dess anomar's Avatar
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    Default Re: For anyone with a Crap1 card

    Quote Originally Posted by Yekhefah View Post
    Got one for Citicards? I have a student Visa I got in 1997 and I despair of ever paying it off because the interest is fucking insane. Every month the balance actually goes UP. I owe over $5000 on that card and I'd do anything to get rid of it. If there's a number where someone can help me, I'd sure love to hear about it.
    Transfer it to a 0% APY card? (I can dig up websites w/ listings of such things). They may have a fee but it's minimal. Mine was like 3%... SO MUCH better psychologically than paying $200 but getting $60 interest. Fucked!

    They are becoming increasingly easy to get...

  25. #25
    Banned Melonie's Avatar
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    Default Re: For anyone with a Crap1 card

    These days you need a 720+ FICO to have any hope of being approved for a new credit card account with a 0% introductory rate. Crapital one actually offered me this option for 6 months on a new credit card account versus lowering the interest rate on my existing account to 5.9%. But the embedded 'fine print' costs i.e. the 3% transfer fee, the 13.9% fixed interest rate after the 6 month introductory period expires, the disclaimers in regard to future unilateral changes in interest rate and/or credit limit etc. actually made my existing account a far less risky at an arguably equal cost.

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