General Question

afghanhound's avatar

What do people who make $100K or more think of Capital One as a brand?

Asked by afghanhound (85 points ) January 9th, 2012

I’m looking for some quick brand perceptions of Capital One

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22 Answers

softtop67's avatar

not much think of them more as high rate credit cards for those with moderate fico’s

JLeslie's avatar

I don’t think one way or the other. It just depends what deal they have. I just got a Marriott card for my husband, I don’t even know what bank it is with? I am pretty sure it was Chase? I have an American Express, because that is who Delta airlines works with. I have a Citibank card for American Airlines.

Uberwench's avatar

You’re looking for people who make $100K+ here of all places? I don’t make nearly that much, but I think Capital One is basically a slightly more mature scam than sending e-mails claiming to be a Nigerian prince.

JLeslie's avatar

@Uberwench Why is it less likely here?

john65pennington's avatar

If you are really looking for a solid brand, then go with American Express.

Captial One has a reputation of being a “head hunter”.

Uberwench's avatar

@JLeslie Because rich social networkers go to places where the plebes aren’t allowed in and where it is less uncomfortable to admit to making that much money.

JLeslie's avatar

@Uberwench I don’t want to sidetrack the Q but $100k is not rich by most measures in the US. And, fluther is about people who like to discuss topics, it has nothing to do with income level.

Uberwench's avatar

@JLeslie It’s more than twice the median household income in the United States, and we’re talking about individuals. Less than 10% of individuals make that much. Just because it’s not enough wealth to control the world doesn’t mean it’s not a lot of money (even if you can’t do as much with 100K now as you could in the past).

JLeslie's avatar

@Uberwench I don’t think the question is for individual income, I think it is for household, even though I agree the wording does not say that. I think $100k is a lot of money, just not rich.

Uberwench's avatar

@JLeslie I think it’s about individual income, which is how my answers should be read. I also think people use “rich” in a lot of ways. I’m using it comparatively, not judgmentally. If you’re using 100K as the bottom of your interest group, you’re looking for the rich.

afghanhound's avatar

Just to clarify, I meant $100K household income. Sorry for any confusion, and thank you for your answers!

Uberwench's avatar

Okay, that’s a bit different. I still don’t have a good impression of Capital One, though, even given the general distaste I have for credit card companies. It’s sort of like @john65pennington said: they seem to be the ambulance chasers of the credit industry.

YARNLADY's avatar

We haven’t seen any need for it. We already have several elite cards with better benefits.

JLeslie's avatar

@john65pennington @Uberwench I’m curious why you feel that way about Captial One, is it the ads they have? Or, past experience with them, maybe bad customer service?

@Uberwench Pretty much all marketing of goods and services is interested in household income just for future reference. I don’t really buy much at all without consideration for my husband and the entire household budget, I think most married couples function in the same way. This year my personal income was zero. Yet, I told my husband to cancel one particular credit card a few months ago, which we had that we were not using and open a Marriott card because of a promotion they were having. I even did a fluther question about it. I also make decisions about where we bank, and moving money around in general, he doesn’t look at that stuff much at all. Ironically he currently works for a bank.

Judi's avatar

A way to scam the poor folk out of their money. Paying interest on credit cards is a scam, and their ads, that appeal to the ones who can least afford it make me sad.

Neizvestnaya's avatar

I doubt most people making over $100k carry a Capital One card since that card is very high interest and marketed for those with not so good credit histories.

JLeslie's avatar

@Judi Oh, does the card have interest even if you pay in full?

auhsojsa's avatar

Although it may be seen as a scam, it helped me in emergency situations. I’m a full time student and receiving unemployment benefits. Although popular belief may be to, “not spend what one doesn’t have” there’s no way in hell I would be ahead or traveling along with the technological ratrace that is required in college research and overall art projects in general. Of course this is my unique situation. If I could have it my way. I’d be employed full time and going to school full time, earning my own money (that the U.S. probably doesn’t even have).

CWOTUS's avatar

Obviously I’m not targeted in your question, but I’d give this answer: The interest rate on a card wouldn’t faze me in the least, since I pay off my balances on time and in full every month with notably rare exceptions.

I don’t have a Capital One card, but when I look for a new card what interests me is net cost, first, and benefits, second. If there’s a net cost to me for simply acquiring and holding the card, then I won’t hold it.

wundayatta's avatar

You gotta be suspicious of a card that markets itself in such a piratish kind of way. They are not after well-heeled people. They want the people who make instinctual decisions. They probably take advantage of people. I do not think they are trustworthy at all. And they do seem to score poorly on consumer evaluations. I think people who have money they have to plan for would be wise to stay away from Capital One. That’s a card for people who don’t know how to control their spending.

robmandu's avatar

It’s a credit and financing company as well as a physical bank. They make money off of people borrowing money… a business practice that dates back to biblical times.

I’d hardly call it a “scam”. It’s a service with pretty clear terms that people should enter into having already done their homework. Unfortunately when it comes to credit, many people, often wantonly it seems, refuse to do that.

In my mind, Cap One is on par with Bank of America, Wells Fargo, and other national-brand banks. In some respects, they’re simply a necessary evil.

My #1 choice is USAA.

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