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If any new Capital ships are previewed today at CitizenCon…
Main Post: If any new Capital ships are previewed today at CitizenCon...
Top Comment:
Release the Kraken!
Hivemind Capital and Algorand today announced the acquisition of Napster
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"BREAKING: HivemindCap and Algorand today announced the acquisition of Napster, to once again revolutionize the music industry by bringing blockchain and Web3 to artists and fans. Music industry veteran Emmy Lovell has been named interim CEO. Stay tuned for further details."
Source: https://twitter.com/HivemindCap/status/1524027670941556739
Who is Hivemind Capital? Hivemind Capital Partners ("Hivemind"), an investment firm founded by ex-Citi head of structured products trading Matt Zhang
Top Comment:
Well, if we’re to take Algo’s (and crypto’s) plans to radically change the current institutions - music, here - and put more power into individual’s hands, ie royalties for musicians/owning the music, this is how it starts!
Extremely negative experience with capital one today, need advice for rectification
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TLDR: credit company sends an offer with 0% chance of being accepted, hard check on account, no help.
So for starters I’ll list the underlying info that will help this story. I am a 21 y/o male in college with a CS of 670, I’ve got a few student loans on my acc but that’s it.
Last month I got an offer for the capital one platinum card. I know it’s not the sexiest card but I am trying to build some credit seeing that I am getting married next year. Basically I am using the card to buy gas throughout the month and then I’ll pay it off before the due date. Never missed a payment or had anything negative against my credit score.
Last week in the mail I got a “pre-qualified” offer for the quicksilver card. I looked at it read all the terms and decided to apply. I got denied and was confused at first but not mad AT ALL. I am genuinely a calm person, and I was more curious than anything about why I was declined. I read the sheet and none of the reasons listed as to why applied to me. Yesterday I got the email for the reason “Based on your application information, there is a currently pending or recently processed application with Capital One.” I automatically think that there must have been an issue on their end because the reasons for denial on the offer letter I received stated that if I have applied for 2 or more in the last 30 days. I had only applied for 1 card in the last 30 days so I called them today to get some clarification.
Again, I am calm a level headed going into the call. Not even kind of mad, I assume it was just a mistake. So I call them explain what happened to the lady and she explains to me that I can only be approved for a card once every 6 months. Now I start to get a little upset, I tell her that no where on the letter did it say this, and that it only said 2 or more in the last 30 days. I am not mad that I got denied, I am mad that I wasted a check on my credit when there was a 0% chance I could’ve gotten the card. She starts talking in circles, and eventually I am like well what are y’all going to do to rectify this. And she’s asking me “well what solution do I want?” And again after talking in circles I say to her that “I don’t know what solutions y’all offer, I am not the one who works at the credit card company who knows what y’all can and can’t do.” She then says that she will transfer me to a supervisor, but my break at work was ending so I told her that they would have to call me back later when I was off. She tells me they can’t call us, but that I can call later and immediately request a supervisor. I hang up and go about my day. I’ve worked in customer service throughout HS and even now as I finish college, so I tried to not be rude to her, but when she was purposefully talking in circles I definitely let a few fucks fly. More as emphasis than as an insult.
Now that I am off of work I called and immediately request a supervisor as I was told. This lady tries giving me the run around (now I have no patience for it) and when she is trying to ask me about why I’m calling I tell her I’m not going in circles again, just transfer me. After she asks me what felt like 1000000 verification questions I get put on hold for a few minutes and then speak to the supervisor.
I start talking to bill and I’m explaining what happened about how they sent me an offer that they knew would be instantly declined because of their policy and that now I have a hard check on my credit because they gave me incomplete information. I’m very annoyed at this point and I explain it to him like I explained it to the First Lady the 5th time and to be honest it was like talking to a 5 year old. He starts telling me that being denied is normal and that it is normal to be upset when it happens. But I tell him, I am not mad that I got declined I am mad that they basically set me up for failure because of their policy. He states that it’s not their fault that i applied (true) but that it’s what happens with credit cards. I again explain it to him like I would a toddler and he says that it’s a matter of perspective because I said “I feel like y’all set me up” and I cut him off saying that this isn’t my perspective your perspective, it’s the fact that you sent me an offer one month after sending me a different offer that was approved when it was impossible for me to be approved. He comes back with how people get approved and denied all the time for different reasons and that it wasn’t guaranteed I was going to be declined when I then quoted their policy that you WILL be denied if you apply for a different card within 6 months. Then he set me the fuck off lol, I was stern and clearly upset at this point, but then when I take a second from talking he starts saying “well people make choices...” and I said “don’t you fucking blame this on Me” and he starts I wasn’t going to blame you blah blah blah and this shit goes back and forth. I explain it one last time in the slowest, most clear way possible that they sent me an offer in February, I got accepted, and then a month later when it was impossible, literally a 0% chance of approval I get an offer for a better card and that they wasted a check on my credit because of it. Eventually I get to the point where he is useless so I basically tell him that on April 11th im paying off my card and then canceling it. And that I know it won’t impact y’all who bring in millions and billions of dollars, but just because I don’t matter doesn’t mean you can screw over the little guy. I told him that I know he is not the one who sent out both letters, and that I’m largely not mad at him, but that y’all need to fix this. Because wasting hard checks for people is ridiculous.
So will all that in mind, I get home tonight and realize that I can’t cancel and get a new card. Because I used up my two checks, and I need that extra one when I apply for housing next year when I graduate and get married. So yea I’m stuck with these jerks, but aside from getting that off my chest, do y’all know of any way to remedy this or am I just screwed? At the end of the day it’s not the end of the world because the check next year for housing won’t mess with my score too much, but it’s still extremely frustrating. Oh I could obviously tell he was talking down to me because I was a young college student. I get that I’m not the oldest/wisest and that I’m new to the credit card game. But he was talking down to me like I haven’t managed people, or been a head coach for a public school football team. And I know he doesn’t know that, but I am not some dumb college student who is clueless.
Top Comment:
I’ll start off my saying that the marketing material you get in the mail is not in anyway 100% guaranteed. It is just that...marketing. No matter what they call it, the actual application is required and that will ultimately be where the final decision is made on extending credit or not.
There is no set in stone number of credit checks to be considered “too many”. There are many folks here, myself included, who have had hard inquiries a 3+ times within a month. So, no hard inquiry was “wasted”. Come time for you to buy a home, you’ll be perfectly fine so long as you pay your current credit card how you should each month.
Lastly, it is never a good idea to call up CapOne, Citi, Chase, etc. trying to argue your case. You could certainly have contacted that recon line and had a conversation and they “may” have decided go approve you.
Good luck with your future home purchase. 😊
Today the capital of Ukraine, Kyiv celebrates the 1540th anniversary of its foundation, this year it will be celebrated under martial law.
Main Post: Today the capital of Ukraine, Kyiv celebrates the 1540th anniversary of its foundation, this year it will be celebrated under martial law.
Top Comment:
And that is well before Russia was founded. And still the orcs say Ukraine belongs to them. Fuck Russia.
Hivemind Capital and Algorand today announced the acquisition of Napster
Main Post: Hivemind Capital and Algorand today announced the acquisition of Napster
Top Comment:
This just in: Metallica has filed a lawsuit against Algorand
Hivemind Capital and Algorand today announced the acquisition of Napster
Main Post: Hivemind Capital and Algorand today announced the acquisition of Napster
Top Comment:
MySpace is next! Go Tom!
FYI: Today J.P. Morgan posted their 2022 Long-Term Capital Market Assumptions
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My personal takeaways: 60/40 is still okay-ish as in 2021. Higher returns can be achieved via:
- PE (private equity, not widely accessible to individual investors AFAIK other than SPAC)
- Global Transport (Cannot find a corresponding ETF. Perhaps https://www.blackrock.com/americas-offshore/en/products/299086/blackrock-future-of-transport-fund but given that it's a UCITS fund US investors need to purchase via a fund manager)
- Value-add real-estate (Fundrise provided a value-add fund to accredited investors)
- Global infrastructure ($IGF)
- Direct landing (Yieldstreet? Worth checking the fee structure and the underlying products)
- EM debt (tons of closed-end funds and ETFs)
Overall it's a very detailed a report covering lots of topics including inflation, crypto, tax hikes and 60/40 for 2022 with statistics. Highly recommend giving it a read.
Top Comment:
30 plus years in this business. Maybe I've gotten too cynical, but it always seems the forecasts call for the best returns in the asset classes with the highest management fees.
I do like the projected bounce in the Chinese equity markets, althought much of that will be dependent on things outside of market forces (like CCP policy) , so that's a pretty tough call.
Edit - I forgot to say thank you! Thank you! This is great info!
Today the capital of Ukraine, Kyiv celebrates the 1540th anniversary of its foundation, this year it will be celebrated under martial law.
Main Post: Today the capital of Ukraine, Kyiv celebrates the 1540th anniversary of its foundation, this year it will be celebrated under martial law.
Top Comment: How in the hell I didn't know that this city was so beautiful. I know that they are showing the best bits in these videos but still.
West Coast Pre-Sales pushed to 3PM today
Main Post: West Coast Pre-Sales pushed to 3PM today
Top Comment:
Oh man... I wish there had been a way for demand to be precedented!! 😢🎻🎻🎻