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Established Contributor
glamchick
Posts: 507
Registered: ‎01-09-2008

Received Credit card offer from CapitalOne should I take it?

I recently applied for capitalOne's blank check to finance a car which I didnt end up using.  I received an offer from them today 0% interest for 1 year for their credit card and an increase in 3 months.  But the interesest rate will go to 16.9% once the year is over.
 
 
I have 2 FPB cards and they suck and i just received a wamu card.
 
My scores are between 660-680
 
Do you think i should take the capital ones offer?

Starting Score: 501
Current Score: 666
Goal Score: 700


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Valued Member
divorcedcapone
Posts: 40
Registered: ‎05-20-2008

Re: Received Credit card offer from CapitalOne should I take it?

My opinion is hell no. Run as fast as you can to the shredder.

But I have emotional scars that my hinder my judgement :smileywink:.
Ficos 8/23/08: EX 805, EQ 774, TU 768
Ficos 1/6/09: Ex 813, Eq 779, TU 770
Frequent Contributor
jaysdad2k
Posts: 368
Registered: ‎02-07-2008

Re: Received Credit card offer from CapitalOne should I take it?

I'm sorry if it is shown elsewhere.
 
Why do you hate Cap One so much?
"Knowledge is of no value unless you put it into practice."- Anton Chekhov
4/11 TU 743 4/11 EQ 763
Established Contributor
glamchick
Posts: 507
Registered: ‎01-09-2008

Re: Received Credit card offer from CapitalOne should I take it?

LOLOLOL
 
Yeah Ive read a lot of bad things about them but these just seems like a good offer. 

Starting Score: 501
Current Score: 666
Goal Score: 700


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Established Contributor
Uniqua
Posts: 683
Registered: ‎04-05-2008

Re: Received Credit card offer from CapitalOne should I take it?

LOL@divorcedcapone. You got me cracking up over here :smileyhappy:

Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


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Starting Score: 708
Current Score: 743
Goal Score: 800


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Member
sean126
Posts: 11
Registered: ‎05-27-2008

Re: Received Credit card offer from CapitalOne should I take it?

I just found out through several people, one of which is a finance guy at 5th/3rd bank that Capital One cards are nothing to make lenders get excited about. It's like having a finance Company loan on your report. Yes, it helps your scores..but it's really not that great looking on your credit report itself. I didn't know this before I got mine.
apparently they have or had a reputation of giving cards to people with no, low or so-so credit and thats how lenders look at it when they see it on your credit report...or so I'm told.

I'd pass it up and get a card from better company.
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007

Re: Received Credit card offer from CapitalOne should I take it?

With scores in the range of yours, I would try for an Amex, Citi, or Chase Freedom. Those scores are good enough for several prime lenders.

Have you looked into any CU cards like PenFed or Navy Federal?
Here we go again...
Established Contributor
SonorityGenius
Posts: 729
Registered: ‎10-21-2007

Re: Received Credit card offer from CapitalOne should I take it?

CRAPone pulls all 3 hards..
 
if the above didn't click, see this ---> NO!!!! <----
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007

Re: Received Credit card offer from CapitalOne should I take it?

Well- If the OP already did a "Blank Check" they already did a triple pull-
 
It would add an INQ- but would not hurt FICO score-

SonorityGenius wrote:
CRAPone pulls all 3 hards..
 
if the above didn't click, see this ---> NO!!!! <----



Established Contributor
heirophant
Posts: 532
Registered: ‎11-25-2007

Re: Received Credit card offer from CapitalOne should I take it?

[ Edited ]
I have had 3 Cap 1 cards (now just one), and like their slogan says, I have had "No Hassles."  I think they are a pretty decent and fair bank.  They don't hit you with lots of fees, there are no foreign transaction fees, and they don't practice universal default, so no rate jacking unless you mess up with them.


Message Edited by heirophant on 05-27-2008 08:06 PM
FICO's: TU: 682 EX: 688 EQ: Unknown

In my wallet (strikethough are getting the axe soon): Amex Rewards Plus Gold | BECU: 10,000 | AlaskaUSA FCU: 6,900 | Citi Forward 6,500 | BOA Travel Rewards: 5,000 | US Bank Cash+: 5,000 | Merrick: 4,200 | Chase Freedom: 3,500 | Juniper: 3,100 | Household: 2,450 | Best Buy Reward Zone: 2,000 | Cap1: 1,500 | Cap1: 750 | Bailey's Furniture: 3,100 | Lowes: 4,500 | Care Credit: 2,000 | Zales: 1,400 | Kohls: 400 | Sam's: 5,200 | Walmart: 1,100 | Discover More: 1,000

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