Posted: 2/21/2012 7:46:16 PM EDT
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So I just got the email confirming the takeover of ING by Capitol One. I have always loved ING and keep a fair amount of savings in there. I am not so sure what I think of Capitol One. Anyone thinking of jumping ship after this take over? Anything similar to ING? |
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C1 is a terrible, terrible company. Bottom feeders. Any reason why you make that claim? Or is that just the cool Arfcom opinion? I have been a Capital One customer for about 5 years, and they have been by far the best credit card company I have ever dealt with. I've also looked into their business management and investment potential and they seem to me like a well run, quality company. |
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C1 is a terrible, terrible company. Bottom feeders. Any reason why you make that claim? Or is that just the cool Arfcom opinion? I have been a Capital One customer for about 5 years, and they have been by far the best credit card company I have ever dealt with. I've also looked into their business management and investment potential and they seem to me like a well run, quality company. They have a huge presence here in Richmond, VA and are one of the top employers and are consistently ranked one of the best companies to work for. All my dealings with them have been great. |
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So I just got the email confirming the takeover of ING by Capitol One. I have always loved ING and keep a fair amount of savings in there. I am not so sure what I think of Capitol One. Anyone thinking of jumping ship after this take over? Anything similar to ING? A lot of people that jumped ship at ING moved to http://www.ally.com/ I moved my $ there.. |
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GM's financing arm? Interesting. |
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They have a huge presence here in Richmond, VA and are one of the top employers and are consistently ranked one of the best companies to work for. All my dealings with them have been great. I worked for Capital One for several years, and can't say enough good about them. They have some incredibly bright people there, and try to do the right thing for their customers and the market. I'm no Kool-Aid drinker (I left almost a decade ago, don't own any stock, etc.), but on the other hand - people still hang on to the fact that Capital One was one of the first ones to market to "sub prime." That does have an icky feeling - kind of like the payday cash loan places and car title loan guys. They've since moved out of the subprime space and into the "mainstream" banking area - and are doing quite well. I'm keeping my ING account after it moves to Capital One, and don't have any concerns about it at all. Take that endorsement like you would from someone who worked in the kitchen at a restaurant actually eating there  .
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They have a huge presence here in Richmond, VA and are one of the top employers and are consistently ranked one of the best companies to work for. All my dealings with them have been great. I worked for Capital One for several years, and can't say enough good about them. They have some incredibly bright people there, and try to do the right thing for their customers and the market. I'm no Kool-Aid drinker (I left almost a decade ago, don't own any stock, etc.), but on the other hand - people still hang on to the fact that Capital One was one of the first ones to market to "sub prime." That does have an icky feeling - kind of like the payday cash loan places and car title loan guys. They've since moved out of the subprime space and into the "mainstream" banking area - and are doing quite well. I'm keeping my ING account after it moves to Capital One, and don't have any concerns about it at all. Take that endorsement like you would from someone who worked in the kitchen at a restaurant actually eating there . I guess they thought they were doing me a favor by doubling my interest rate back in 2008 on a card I'd had since 1997 and never had so much as a late payment.
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C1 is a terrible, terrible company. Bottom feeders. Any reason why you make that claim? Or is that just the cool Arfcom opinion? I have been a Capital One customer for about 5 years, and they have been by far the best credit card company I have ever dealt with. I've also looked into their business management and investment potential and they seem to me like a well run, quality company. The number one fact for me, when I had a card with them - they wouldn't report your credit limit to the 3 agencies, to help build your credit. It is a terrible practice to help ensure you don't qualify for another card elsewhere. |
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same boat.... Same Boat. HATE Crapitol one with a passion. I just don't know what to do with my Sharebuilder stuff. I will lose way to much money closing everything out just to move it. Leave your money in Sharebuilder but don’t add any more money to it. Open a Vanguard account they have very low fees. |
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They have a huge presence here in Richmond, VA and are one of the top employers and are consistently ranked one of the best companies to work for. All my dealings with them have been great. I worked for Capital One for several years, and can't say enough good about them. They have some incredibly bright people there, and try to do the right thing for their customers and the market. I'm no Kool-Aid drinker (I left almost a decade ago, don't own any stock, etc.), but on the other hand - people still hang on to the fact that Capital One was one of the first ones to market to "sub prime." That does have an icky feeling - kind of like the payday cash loan places and car title loan guys. They've since moved out of the subprime space and into the "mainstream" banking area - and are doing quite well. I'm keeping my ING account after it moves to Capital One, and don't have any concerns about it at all. Take that endorsement like you would from someone who worked in the kitchen at a restaurant actually eating there . I guess they thought they were doing me a favor by doubling my interest rate back in 2008 on a card I'd had since 1997 and never had so much as a late payment.
Yeah, same here. Fuck em. The new card is still sitting there unused, haven't bothered to call in to activate it. |
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The number one fact for me, when I had a card with them - they wouldn't report your credit limit to the 3 agencies, to help build your credit. It is a terrible practice to help ensure you don't qualify for another card elsewhere. 
Where did you hear that? I've had a Capital One card for 5 years and they have always been reporting to at least 1 agency. Very few financial institutions report to all 3 agencies. |
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I guess they thought they were doing me a favor by doubling my interest rate back in 2008 on a card I'd had since 1997 and never had so much as a late payment.
Yeah, same here. Fuck em. The new card is still sitting there unused, haven't bothered to call in to activate it. You guys are aware that in the midst of the 2008 financial crisis our wonderful financial leaders decided to leverage additional fees on every financial institution (which directly raised their cost per account), right? I'm not justifying their actions in your particular cases (because I have no insight either way), but I strongly suspect Cap One didn't just double everyone's interest rate randomly smack in middle of "the worst financial crisis since the great depression" just because. There is no evil corporation out to get you. They consistently do what either they're forced to do (often by government meddling) or what's best for their business. If I was a shareholder, that's what I would want them to do. Wouldn't you? I also encourage anyone to pursue whatever more appealing financial options you have available. Someone rasises your rates? Fine. Cancel the card and get a better one. In spite of what anyone may tell us, we are just a number to them, and they are just a financial option for us. I don't know if I would blacklist them and get silly about them as an institution. The changes did only apply to future transactions, right? Do you get mad at everyone else when the cost for future services go up? |
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The number one fact for me, when I had a card with them - they wouldn't report your credit limit to the 3 agencies, to help build your credit. It is a terrible practice to help ensure you don't qualify for another card elsewhere.
Where did you hear that? I've had a Capital One card for 5 years and they have always been reporting to at least 1 agency. Very few financial institutions report to all 3 agencies. Perhaps they have changed their business practices in the last 5 years? They didn't report your limits to anyone, only what you charged to your card - so they'd report $346.49 - but not the $1000 limit you had. Which looks bad for credit. |
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Try American Express Personal Savings. I have one of their online savings accounts and it has been easy to use. http://personalsavings.americanexpress.com/ |
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You guys are aware that in the midst of the 2008 financial crisis our wonderful financial leaders decided to leverage additional fees on every financial institution (which directly raised their cost per account), right? I'm not justifying their actions in your particular cases (because I have no insight either way), but I strongly suspect Cap One didn't just double everyone's interest rate randomly smack in middle of "the worst financial crisis since the great depression" just because. There is no evil corporation out to get you. They consistently do what either they're forced to do (often by government meddling) or what's best for their business. If I was a shareholder, that's what I would want them to do. Wouldn't you? I also encourage anyone to pursue whatever more appealing financial options you have available. Someone rasises your rates? Fine. Cancel the card and get a better one. In spite of what anyone may tell us, we are just a number to them, and they are just a financial option for us. I don't know if I would blacklist them and get silly about them as an institution. The changes did only apply to future transactions, right? Do you get mad at everyone else when the cost for future services go up? If I were a shareholder the last thing I would want would be to make changes that cause long term customers of good standing to close accounts. I understand businesses need to make money but going from 7.9% to 14.9% when the prime rate had only went down seems excessive to me. I had other cards at the time that didn't see the need to raise their rate. Even the evil Citi Bank didn't raise my rate, it's still at just over 6%. Am I mad about it? No or course not, I have more important things to stress over. Funny how I still get mail from Captial One asking me to come back. Sorry Capital One but that's not going to happen, I'll give continue to give Citi and the local credit union my business. |
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Try American Express Personal Savings. I have one of their online savings accounts and it has been easy to use. http://personalsavings.americanexpress.com/ I had the "One" card from them that had the savings account built in and was earning 8% a few years back. They closed the savings account and removed the perks of the CC 
I did just apply for the savings account so I may switch my savings to that from ING. I only put $100 in there for now and will see how things go. |
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I guess they thought they were doing me a favor by doubling my interest rate back in 2008 on a card I'd had since 1997 and never had so much as a late payment.
Yeah, same here. Fuck em. The new card is still sitting there unused, haven't bothered to call in to activate it. You guys are aware that in the midst of the 2008 financial crisis our wonderful financial leaders decided to leverage additional fees on every financial institution (which directly raised their cost per account), right? I'm not justifying their actions in your particular cases (because I have no insight either way), but I strongly suspect Cap One didn't just double everyone's interest rate randomly smack in middle of "the worst financial crisis since the great depression" just because. There is no evil corporation out to get you. They consistently do what either they're forced to do (often by government meddling) or what's best for their business. If I was a shareholder, that's what I would want them to do. Wouldn't you? I also encourage anyone to pursue whatever more appealing financial options you have available. Someone rasises your rates? Fine. Cancel the card and get a better one. In spite of what anyone may tell us, we are just a number to them, and they are just a financial option for us. I don't know if I would blacklist them and get silly about them as an institution. The changes did only apply to future transactions, right? Do you get mad at everyone else when the cost for future services go up? If you are implying that we were to blame in some way for them raising the rates, no, look it up, it was a general raising of rates. At the same time they got bailout funds. blog regarding Capitol One So it would appear they weren't forced to raise the rates, but just decided to with the crisis they were bailed out of by taxpayers as an excuse. The rates applied to the entire balance, not just future purchases as far as I remember. Your option was to cancel the account. I paid it off and have never bothered with them again. Their rates are higher than my other credit cards, and although I don't keep a balance, fuck em. No reason to reward assholes with business. |
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GM's financing arm? Interesting. Kiss of death. I use Capitol One for a savings account with my online banking- basically a pot I divvy up and pay other online accounts with. At one time they paid interest among the highest of the online accounts. Now it's piss, but the service has always been good. |