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I am rebuilding and in April of this year, I received a pre-approval for a Capital One Platinum Mastercard. I was shocked with the offer because it was offereing 0% interest for the first year and then 18%APR after that, which compared to my First Premier rebuilder at 79%APR, it was a God send. I had just opened a Capital One checking and savings in September of 09 and have received great customer service, so I decided to take the card. As soon as I got the card, I received a letter stating that I was in a credit steps program that would allow an auto cli every 90 days, the first would be up to 500, as long as I didnt go over balance and pay payments on time, etc... I am very happy with this card, I use it for small purchases and PIF every month, I am so happy with capital one that if I can add another capital one rewards card to my collection, I would gladly drop the high interest First Premier in an instant. The only downfall to the capital one is there is a $39 annual fee, but in the big scheme of things, thats nothing, especially with a 0% interest for a year on a rebuilder. Good luck!
When I was rebuilding I got the 1st Premier card.
Went into shock when I saw 300CL with $278 in
charges. Cancelled immediarely. Are they kidding?
It still shows on my reports.
I also got CAP ONE and 8 yrs later I still have them.
It is a rewards card now. They did RJ me however.
As soon as you can try a CU.
@Anonymous wrote:When I was rebuilding I got the 1st Premier card.
Went into shock when I saw 300CL with $278 in
charges. Cancelled immediarely. Are they kidding?
It still shows on my reports.
I also got CAP ONE and 8 yrs later I still have them.
It is a rewards card now. They did RJ me however.
As soon as you can try a CU.
LOL. You are funny! I've never had CapOne, but I think they are good for rebuilding. I'm hearing more and more about their credit steps program and very positive things I might add. I notice that CapOne has CCs for bad credit, fair credit, good credit and excellent credit. Which category do you think your CC falls into?
Just like the op I too opened a Cap One Checking and Savings account and within the first month received the same letter regarding the Cap One Premier card, I applied and was approved with a cl of $500 (I just got the card over the weekend), but unlike you, the letter that my card came with said nothing about credit step, it did however say that with good payment history and responsible usage my credit limits will go up. No finance charge til June 2011.
Just received my Cap1 card a few days ago. $500 initial limit, I am in the credit steps program. Called customer service and confirmed. I was informed it would increase to $750 as long as payments are on time and don't go over limit. I think it will max at $1000 or $1500. I pre-qual on their website and took a chance (glad I did). Divorce hit my credit kind of hard. Trying to hit 620-650 by the end of the year (will see what happens).
TU: 588 EQ: 566 EXP: ?
I got my capital one credit steps letter about a month after I received the card. Hope you get one too, its a pretty neat program, I like being rewarded for responsible paying. I got a preapproval for the card, but they pull a hard inquiry on all 3 and Ex is my lowest, Eq and Tu put me at Fair credit range.. Im hoping to get the Rewards card next, I like to PIF every month, and the rewards card pays back on groceries and gas. Hope everyone gets a nice auto CLI in the next few months. (crossing fingers)