Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 317
Registered: ‎06-19-2008
0

Re: Dead end credit cards vs Keep forever credit cards

I always thought that Capitol One was a pretty decent credit card. Even though I have the annual fee I know at some ( I hope) that I can upgrade to one of their cards with no AF.

 

I hear so many nasty things about Cap 1 but they've been alright so far with me. My credit is not the best right now but I'm working to clean it up. Thanks to these dead end cards I was able to establish some credit and have a decent fico score by the time I bought my house last year. I will take all the great advice given to me. Escpecially no apping for 2 years. I dont need to anymore, I got my house, my new car, dead end credit cards, what else could I need for the next 2 years?

-------------------------------------------------------------------------------------------------Fico Score Range 600-625 across the board
Established Member
Posts: 11
Registered: ‎12-08-2008
0

Re: Dead end credit cards vs Keep forever credit cards

I also have had no problems with Capital One.  In fact their card is one of the best cards I have.  My rate is prime for life (currently at 3.25%) and the credit limit is decent ($10,000).  I also don't have any annual fees.  I decided to get this card about 3 years ago when I got an offer for the prime for life interest rate.  As long as they keep their end of the agreement and keep the rate at prime, I will continue doing business with them. 
Frequent Contributor
Posts: 488
Registered: ‎04-09-2008
0

Re: Dead end credit cards vs Keep forever credit cards

I would apply for a BOA secured- or join a good credit union and keep depositing 50 a week until you get 1000.00 and ask for a secured card. Junk begets junk-- I would slowly start weeding out anything with an annual fee- (if they don't waive the fee)..
Frequent Contributor
Posts: 488
Registered: ‎04-09-2008
0

Re: Dead end credit cards vs Keep forever credit cards

[ Edited ]
Does Crap1 report your credit limit????? I was under the impression they don't- and the result is that your utilization on a Crap1 card is always 100%- to me thats JUNK- if I'm wrong - I still think Crap1 is junk.
Message Edited by moondog7324 on 03-05-2009 11:31 AM
Valued Contributor
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Dead end credit cards vs Keep forever credit cards

[ Edited ]

moondog7324 wrote:
Does Crap1 report your credit limit????? I was under the impression they don't- and the result is that your utilization on a Crap1 card is always 100%- to me thats JUNK- if I'm wrong - I still think Crap1 is junk.
Message Edited by moondog7324 on 03-05-2009 11:31 AM

There was a time that this was their practice and they didn't but now they do as they were forced to do it. They considered it unfortunate, such scum, but yes they are required to report your limits now.

Message Edited by Guardian on 03-05-2009 12:52 PM

Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Established Contributor
Posts: 586
Registered: ‎03-03-2009
0

Re: Dead end credit cards vs Keep forever credit cards

They've been reporting a limit ever since I got the card in May of 2007.

Frequent Contributor
Posts: 317
Registered: ‎06-19-2008
0

Re: Dead end credit cards vs Keep forever credit cards

Please forgive my question, but why do people dislike Cap 1? What have they done that has so many people turned against them? I am young so I dont know.

-------------------------------------------------------------------------------------------------Fico Score Range 600-625 across the board
Valued Contributor
Posts: 1,148
Registered: ‎04-23-2008

Re: Dead end credit cards vs Keep forever credit cards


shalane85 wrote:

Please forgive my question, but why do people dislike Cap 1? What have they done that has so many people turned against them? I am young so I dont know.


Their credit is subprime, they charge high interest rate, aim mostly for those hurting for credit, they charge annual fees, their customer service is the worst, if not non-existent, they don't grow with you unless they see some benefit in giving you more credit. They do however, tend to have cheaper international conversion fees when you use your card overseas and they do tend to give credit more easily, even if they give really low limits to begin. Hope that helps, I am sure others will have more for you.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Frequent Contributor
Posts: 317
Registered: ‎06-19-2008
0

Re: Dead end credit cards vs Keep forever credit cards

I had no idea Capitol One had the kind of reputation. I didnt even realize that 17% was a high interest rate. I thought I was doing good. Never to old to learn something new.
-------------------------------------------------------------------------------------------------Fico Score Range 600-625 across the board
Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
0

Re: Dead end credit cards vs Keep forever credit cards

Cap One does have some good cards, and we'll probably hear from some of the members who have them, if they haven't gotten tired of speaking up for C1, lol.

The confusing thing about Cap One to me is that they extend credit to a wide range of applicants, and it's hard to tell if you got stuck with a dud card until you hit the invisible ceiling.

But unless they've changed recently (wouldn't be surprised if they had), they're good for international travelers.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.