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Question By
ernestf01

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Is capital one a predator lender.
I have had a account with them over 1 year they have only increased it to 500. Yet I got other accounts with 3k to 10k and less than 3 percent utilization. yet every time I ask capital one for a increase. they give me response I over utilize my credit. So I'm thinking truth is they wanting me to max my card to give me a increase which to me would hurt my potential with other lenders. Part of me just wants to get rid of them but I know closing there account will hurt my credit score. So welcome comments predator lender or not a predator lender?

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Top Contributor
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Have you got your credit report? Look at it here or go to annualcredit report and get a free copy of the others.

It would be easy to use a high percentage of your CO card, since the limit is low.

I suspect, not knowing your income and other debts, but if capital one only gave you a $500 limit maybe they think you have too much available credit.

Top Contributor
47 Contributions
27 People Helped

I just signed up for my first CO card because the offer for me was $100 cash back for charging $500 in the first 3 months.  And 1.5% cash back otherwise. 

The interest rate isn't too important for me, since I don't pay credit card interest.  Though I may carry a balance for the 0%/1 year for an upcoming vacation rather than pull it out of savings.  

They kind of hurt my feelings.  They didn't give me the best base interest rate.  Which surprised me.  17.9 vs the 12.9 or 22.9.  When you consider I just bought a car this summer, and qualified for 1.5% for 5 years.

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