Does anyone have one of those Capital One credit cards? For someone...

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	Does anyone have one of those Capital One credit cards? For someone who is trying to establish credit, are they a good choice? I've heard good and bad things. Also hear that 'anyone' can get one, but beware of the pitfalls. Any thoughts? By altgirl84 Asked Jan 20 2009 7:55AM	24 Pts Rate Question

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Top Answer out of 7

by katydid15 on Jan 20, 2009 at 8:00 am Permalink

I have heard nothing but bad things about the Capital One credit cards. Lots of hidden charges. One co-worked was charged a "premium" exchange rate when he was traveling in the US (from Canada) that turned what should have been an $85 charge to be $115. Be very careful.

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altgirl84 Jan, 20 2009 at 08:10 AM

Ah wow. Thank you for that info!! +6

Answer 2 out of 7

by Someguy is sad again on Jan 20, 2009 at 8:33 am Permalink

AS long as you don't have real bad credit, you can get a "major" bank card. They will make you an offer. The interest rate may be high and the credit limit will may be low. Be careful.

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altgirl84 Jan, 20 2009 at 09:38 AM

Thanks, but I've tried the bank route. Not approved. I did kinda get caught up in a 'scam-like' contract a couple of years ago that probably is the reason I can't get one at the moment.

Someguy is sad again Jan, 20 2009 at 09:44 AM

The you either have sub-prime credit or a "thin-file" which means you don't have enough trade lines (credit lines).
Understand that the banks are tightening who they give credit to. You may want to check websites such as http://www.credit-land.com/ or others. They tier the credit offers and you can apply for cards specifically for bad/no credit applicants.

altgirl84 Jan, 20 2009 at 09:46 AM

Thanks!

Answer 3 out of 7

by john pennington on Feb 3, 2009 at 5:23 am Permalink

Someone has to pay for their very expensive television commercials. you can design your own card, but its not free, i guarantee.

Ever heard of the "head hunters" in Africa? this should give you some idea of the workings of Capital One and all credit cards.

If at all possible, stay away from the plastic.

Eventually, it will ruin your credit rating and your life.

A bank debit card is okay.

"If you don't have the dough, you don't get to go".

Good motto.

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altgirl84 Feb, 03 2009 at 09:56 AM

Good answer, thanks. The only reason I want the plastic is to create a good credit base/rating/history, not to buy a bunch of luxuries. I think I'll stay away from Capital One though lol.

Answer 4 out of 7

by angelsdragoon on Feb 3, 2009 at 5:15 am Permalink

Truthfully stya away from them. They have a habit of losing payments and then jacking the shit out of you in intrest to like 19%.
If you do get one get a small amount one just enough to cover like a room or air fare!

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Answer 5 out of 7

by john pennington on Aug 17, 2009 at 11:07 am Permalink

Any credit card today is a bad choice.

The credit card debt is one reason the economy is in the shape it is in.

Bankruptcy courts are loaded with credit card debt.

Credit card companies are now using slick tactics to make you have a bad credit rating.

Its all about the money and they want theirs.....now.

Avoid the cards if at all possible.

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altgirl84 Aug, 19 2009 at 12:46 PM

I can certainly understand the disdain with credit cards. However, NOT having one is almost as bad (and in some instances) even worse than being in debt. These days, people need credit. If they don't have it, how do you prove to someone you're capable of paying back other loans? (car payment, mortgage, renting a hotel room even, sometimes getting a cell phone contract, etc etc). I don't 'need' a credit card. I have one now (a real certified visa bank one, not capital one) and I'm doing great with it. The reason I got it in the first (and only place) was to build a credit rating. I haven't missed payments and always pay all of it on time. And I never make purchases with it that I don't 'need'. Yes I agree with you about them being the reason the economy is so bad...its simple irresponsibility on a person's part. But bottom line, you need one. If not, there's so much you can't do in the future...a co-signer is the only other option.

Answer 6 out of 7

by Karyn on Aug 17, 2009 at 10:58 am Permalink

I had a Capital One once. They continued to lose my payments then blame me for not mailing them. They would charge late fees and at one point their late fee put me over the amount I had to spend and they charged me a over the limit fee. My interest rate shot up more every time they would pull this. I was NEVER late but they said I was. If you just want to establish credit there are much better companies to get it from. Keep trying. Avoid chase too. They have shot my interest rate up almost 10% in 3 months for no reason.

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Answer 7 out of 7

by al-Quest on Aug 17, 2009 at 10:54 am Permalink

There other credit cards with low interst you have to check into it.capital one interest rate has gone up,i had one and i closed the account.

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Does anyone have one of those Capital One credit cards? For someone who is trying to establish credit, are they a good choice? I've heard good and bad things. Also hear that 'anyone' can get one, but beware of the pitfalls. Any thoughts?

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Does anyone have one of those Capital One credit cards? For someone who is trying to establish credit, are they a good choice? I've heard good and bad things. Also hear that 'anyone' can get one, but beware of the pitfalls. Any thoughts?

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