Credit Card Applications Denied

intparent
Fri, 08 Jan 2010 23:55:56 +0000

I think the last few posters have missed the point. It isn’t my daughter’s denial that is an issue, it is mine. And the reason I want this card is because Capital One is the only Visa or Mastercard on the market that I am aware of that waives the 3% transaction fee for foreign currency transactions. I am planning a fairly expensive overseas trip, and D is also studying overseas next year (so I would probably just add her as a 2nd cardholder so we could save these fees and she could have a credit card to use there). So as much as I HATE Capital One right now (and I do!), I still want this card.

To add insult to injury, I reached 2 of the 3 credit bureaus, and they say that Capital One is actually making that judgment call on insufficient progress on the mortgage payments. I called Capital One back, and all they will say is that I should “talk to an outside credit counselor”. Like I have a credit problem… I don’t. I have a customer service problem with Capital One. Went as far up the chain as I could go (“I’m sorry, there is no one who manually can look at any credit card underwriting decision at Capital One” and “No, my manager is only administrative and does not take customer calls”).

I figure I’ve blown about 6 hours on this today. I’m penning a letter to the CEO and head of customer service at Capital One, then I guess I’ll start looking for any other credit card options with lower/no foreign txn fees and wide acceptability in northern Europe. If anyone knows of any, please post…

Columbia_Student, you may be right about the balloon, but my loan balance to equity ratio on my house is something like .40 now even with lower housing prices. So there is tons of equity in my house, that doesn’t seem like it should be a factor.