Capital One Platinum Costco MASTERCARD Consumer Reviews

The year I got this card. I had earned $181k. They gave me a credit limit of $4500. Every last card I had was $10k-40k cards. Yet I only asked for $10k minimum. So that I can keep my utilization low. My typical spend at Costco is $550-800 for a Costco run. And online can usually be $1k items.

I have an 836 score STEADY that doesn’t go up. Or down. As my monthly spending is really steady and I pay cards all on the 18TH of every month for all bills.

Anyways. They said to have it a year and then ask. That was 2018 to now. Yep. In recent 2021 I asked again. Still NOPE.

Then Costco decided to do something amazing. They switch to CIBC. For those of you who hate CIBC. I can say this: CIBC TOOK MY COSTCO CREDIT CARD OUT OF THE CAVEMAN ERA as I don’t know how many times I’ve asked Capital One to please accept Apple Pay. Who even carries cards anymore???

The first thing I did. Was activate Apple Pay. The second thing? I asked CIBC for a limit increase of $1500 and was instantly approved. Seriously? You are begging for years. For a few k increase on a card you’ve had for years….. makes you wonder. Where capital one’s priorities are.

Every time you ask them. They will say. USE IT MORE AND WE WILL RAISE THE LIMIT…. HOW ABOUT YOU RAISE IT THEN I WILL USE IT MORE?? I’m not ruining my credit score. By impacting my utilization score. What a joke. My utilization on $141k of credit card limits. Is 1-3%! I don’t play the 30-35% game.

After one invoice and without prompting, CIBC increased my credit level by 50%. They must have noted a payment was made before a statement was even issued. I've had to do this so I would not go over the ridiculously low level set by Citibank. It's still not at the higher level that I want it to be, but what a relief after a year of Citibank doing nothing on this...

I'm in the top 10% when it comes to my credit rating and my other credit cards have limits up to 10 times over the $2,000 that Citibank established. I've had the card for about 11 months now, use it for everything and the limit has remained the same. When I phoned to increase the limit I was told "they" could not do it and it was up to Citibank. It was explained that after several months they normally offer a credit limit increase. NOT! On average, I paid several times between statement dates to keep below their limit. What a pain trying to keep track. I like the card benefits so looking forward to Costco changing to another bank. Citibank's poor service and lack of attention to customer need warrants it.

I called to request a credit increase as I intended to make a large purchase (book a vacation). Got an automated system that said there were no offers at this time and calling a live person would not help. Anyway, I called a live representative to request how I could request an increase or what the process was. I was told I had to wait for an automated offer. I asked if there was any way for me to make this purchase and was told maybe I should use my visa. For your information, I have zero credit issues, my limit request would not be a concern.
I guess now we know what Capital One will no longer be the credit card company for Costco in Canada.

I have hundreds of thousands of dollars in the bank and a spotless credit rating my entire life, yet they insist that I can only get a $2,000 Credit on the card for the first year! I have automated payments and the monthly balance is paid in full every month like clockwork (except when they withdrew the payment twice!!). Looks like I will have to cancel this card so that I won't be restricted or embarrassed when I reach my limit EVERY month!

Customer service is absolutely the worst I have ever experienced. Complete indifference to my needs and requests. I am a business owner with a net worth of almost 3 million... my credit rating is top shelf. Requests for the already too low credit limit to be increased are blown off with complete lack of respect and consideration. When asked to speak with someone who had authority, I was put on hold of an exorbitant amount fo time only to speak to someone who clearly had the same level of authority as the first..ridiculous. Today my wife went to use the cash back cheque, which is on the card that is in both out names on a Costco account in both our names, to be told she was not allowed to redeem it, since she was not me... What?? They brag on website about customers first? they don't give a shit at all..I have completely stopped using card, and have now cleared last payment, (because that's what i do with my bills) and plan to spend the cash back cheque, then I will shred the card

Tried multiple times to raise a credit limit, no luck. Takes way too long to mail new cards out.

Here’s our challenge with this card: Despite making a sensible request on two occasions over two years, we were met with a firm “no” and what appeared to be indifference. We use this card primarily for Costco purchases. In 2019 & 2020 we purchased relatively expensive holidays through Costco Travel. The Costco Connection magazine recommended using your Capital One Costco credit card to pay for Costco travel bookings. (July/August 2018 issue) So this is what we endeavoured to. When final payment for the holidays was due, the balances exceeded our card’s modest credit limit, so we requested a credit increase. The immediate answer was “no” - with absolutely no rationale given and minimal opportunity to escalate the request with a manager. This is despite never once missing a payment, having substantial financial means and a credit score between 800 and 900. Our requests (both times) were met with complete indifference. Based on our interactions and the other reviews on this site, it is a mystery as to how this company prides itself on serving customers. From their website: “We’re in the business of helping customers succeed with credit.” (Hmmm.) “For over 20 years, we’ve been offering innovative credit solutions which are tailored to the individual needs of Canadians.” (We are individuals but our personal financial abilities didn’t seem to be taken into account.) And, ‘At Capital One, we never stop challenging ourselves to find better ways to serve our customers.” (Really? Not our experience.) Based on the very curt response on both occasions to our requests, we think Costco’s Capital One Canada needs to do some corporate soul searching and perhaps realize they are not hearing their customers. In our case, we can use our Visa Gold card and pay off the holiday balance — no problem there. But we would have preferred to have earned the Costco points. That, after all, is the benefit of the card. I love Costco and their mission of continually providing its members with quality goods and services. It’s too bad that the credit card company they are currently affiliated with doesn’t do likewise.

I recommend to everybody never apply for this card; Since they deny your request without any reason. I applied it with a really good score and history that I had in my credit report but they deny my request with a really ridiculous reason and when I called to capital one to ask the reason; They mentioned because your credit limit with other Banks is high.