What the hell is with Capital One?

Jeeeezus. No joke, I get at least 3-4 credit card offers from them per week. Seems to have picked up even more in the past two months. WTF?

As of 1/1/06 I'm going to toss them all into a box and count them same time next year. 3 per week x 52 = 156/yr.

RMX

 

They don't have their hands in your pocket.

 

It's more fun if you stuff a bunch of crap into their prepaid envelope and send it back

 

I'm at 3-4 offers a week...

 

Open up one....on the back it has instructions to cancel all credit card mailings.....the cards come from Equifax and the other credit bureau listings...if you call the number, you will be taken off the lists....it will be for five years....they will send a letter and if you sign it it will be forever!!!!!!

 

Yes, they are a tad aggressive, but I can't complain; CapitalOneAuto has financed my Ferraris with absolute lack of hassles.

 

lol! i hadn't thought of that.

what happens if you cut sheets of lead to fit in the envelope and ship that? do they end up paying a lot of money for it on their prepaid account?

doody.

 

there's also a web site, can't recall the url; I think its creditcardoptout.com or org or something like that...I don't get any now....

 

That could backfire if you didn't send a MSDS sheet along with it!

 

I do that with all of my junk mail. I tear up all their paperwork and mail it back! Sometimes I even pay for a stamp if the company is too cheap to include a pre-paid envelope! If everybody did this with their trash mail, we probably would bever receive an increase for a First Class postage stamp!

 

I've heard you can tape the pre-paid envelope on a good size box, up to 24x24 I believe, fill it with a bunch of random crap, and mail it back that way. There is a weight limit which I don't know off hand, but it would be entertaining to say the least.

 

I'll have to check that out this week while at the PO.

 

Here's the thing. Although CapitalOne, et al, may be on the excessive side, they wouldn't be mailing their offers if it didn't work.

I think USA is known as the land of the free and the home of direct mail...

 

I don't know if it's demand-related or supply: direct mailing can make a ton of money. I have a friend who's in the industry and I was really surprised with the $ involved.

 

Direct mail is part of my business. I'm still surprised to see how well some campaigns work and how easily they're profitable. With good data and solid strategy you can take an average campaign and turn it into a wildly profitable one. Lester Wunderman's my hero!

 

I am not sure this matters to them. When I was checking into large quantity direct mail, we negotiated a price based on the quantity we expected to mail, and the PO had data on how many returns they expect, so they came up with a price, that we then haggled over, and once it was determined, that was it.

So, if someone used the prepaid tag and sent back 70lbs of dung, it only cost the post office more, not the company doing the mailing.

Actually if everyone did this it would probably raise the price of a stamp as the USPS saw their costs go way up

 

Interesting point.

 

Its a tactic. They can't wait to lock eveyone into debt. Look at their APR's, are they really doing anyone a favor if you have to finance a $2000 "whatever"? Now that the minimum payment went up and the bankruptcy laws have changed.... they own you.

 

If nothing else they gotta pay somebody to open it........

As for the USPS...... F them. The deliver plenty of junk mail but it's just bizarre how often they lose stuff I'm actually waiting waiting for.

 

I took me name off the mailing lists a few years back. I only get one offer every few months. On the advice of a neighbor, I write in Big Letters "REMOVE MY NAME FROM YOUR LIST" on the application form, and circle my name. I cross out everything else, put it in the prepaid envelope and mail it off. It seems to be working.

Screw the credit card companies, they are nothing but legalized loan sharks.

 

just found the right one....good idea:

https://www.optoutprescreen.com/?rf=t

fill it out, it removes you from the list

 

This was EXACTLY my suspicion. I think now that the BK laws have changed, they see opportunity. It really makes me sick because my feeling is they are a big part of the problem to begin with and shoulder very little of the burden.


RMX

 

whats with you guys?? why do you HATE credit card companies so much? and blame then for stupid peoples spending habits??

If you're dumb enough to run up a huge dept that you cant pay or afford to have why is it their fault?? Seems like you guys dont like the idea of personal responsibility and paying off YOUR debts. Then you cry about the bankruptcys?? Sounds like a bunch of deadbeats to me that dont want to own up for stupid mistake and pay back what YOU owe. Id HATE to have customers like you!

 

Angry much? Do you have a credit card company or something? You seem to be taking this personally. Flatly insinuating that people here who dislike the CC companies' tactics are deadbeats lacking personal accountability is pretty offensive.

I think the concern people are expressing here is that Americans of all classes are addicted to debt spending, and it affects those at the bottom the worst since they get screwed on interest. Yet, over 92% of Americans pay their CC bills on time (according to stats on my last credit report).

But for those people who can't control themselves financially, offering more credit is like offering whiskey to an alcoholic. This is the problem.

 

He's right, it took me YEARS to realize I should only pay for my whiskey in CASH......

Plus, many offers are at a very low intro rate then one late payment or whatever and POW! Welcome a 24%APR!!!!

A real eyeopener was the local check cashing place, short term 'cash advances' at over 400%APR.....crazy, man!

But you are right, a responsible person would not run up huge balances they cannot afford......