topic Re: Buy Power Card - Capital One in Credit Card Applications

Buy Power Card - Capital One

Indycoltsfan — Thu, 04 Jun 2015 00:49:05 GMT

Hi - I received a prequalified offer in the mail today from Capital One for the Buy Power Card. I am wary as the Capital One site didn't match me to this card. How solid is the prequalification offer? Does anyone have this card and recommend it? If so, do you know which bureau they pull? Thanks!!

Re: Buy Power Card - Capital One

Pitt570 — Thu, 04 Jun 2015 00:55:21 GMT

They pull eq..and if your looking to buy a gm car then it could be for you...but they give low limits on the card so if you wouldnt mind taking the chance on it...there better products fromc capital one than this card...i was only approved for 300 which im going to be closing...

Re: Buy Power Card - Capital One

Indycoltsfan — Thu, 04 Jun 2015 00:58:44 GMT

Thanks - I am on the fence. Really not sure I want another HP if the prequal is bogus.

Re: Buy Power Card - Capital One

Pitt570 — Thu, 04 Jun 2015 01:16:49 GMT

Yeah in my opinion i would look at different cap1 products if your looking into them...you prequalify for anything else from them?

Re: Buy Power Card - Capital One

Anonymous — Thu, 04 Jun 2015 01:36:04 GMT

i got the same offer the other day !

Re: Buy Power Card - Capital One

Anonymous — Thu, 04 Jun 2015 04:52:44 GMT

I got approved for $750 with a pre-qualification with a 645 credit score and my wife got $7500 with a 695 and she got 0% APR on all purchases for the first year.

Re: Buy Power Card - Capital One

Indycoltsfan — Thu, 04 Jun 2015 13:58:45 GMT

I checked the prequal page and I don't prequal for anything, not even the offer they sent me. They have been sending offers for auto financing though. Not sure if this is a legit prequal. Sounds like low CLs are typical. I think I will pass.... Thanks for all the advice!

Re: Buy Power Card - Capital One

Anonymous — Thu, 04 Jun 2015 15:10:03 GMT

Hmm. 5% earnings on any purchase on $5,000, then unlimited 2% after. That is kinda cool. I mean, yeah, there are probably easier ways to use a credit card and save money (like discover with their 10% promo) but you don't see the discover doubling for a year.

I would say if anyone has a really low limit on ANY capital one card, they get a American Express Serve account. The fee's are $1 a month if you don't add more than $500. But like I have said in other posts, they make it pretty easy to pay any bill and most payments for me take 24hrs or less. Faster than paying via cap1 w/ checking account. Money pulls instantly from debit card. You can circumvent the $1k monthly limit by adding authorized users. I went from 1k CL on my cap1 qs, to 3k in only 5 statements, by paying off multiple times a month.

I guess for people that spend a ton, they would hit the 5 k in a month or two, then the fun would be over... I mean I guess if you knew you were getting a new car every 2 or 3 years, like a lease, this card would be great to fill in the gaps for the chase freedom and discover IT.

Re: Buy Power Card - Capital One

junior88 — Thu, 04 Jun 2015 17:53:34 GMT

I have this card. Got it last fall with a $10k starting CL and I had maybe a 660 EQ score at the time.

Re: Buy Power Card - Capital One

Anonymous — Thu, 04 Jun 2015 18:12:07 GMT

Long time lurker first time poster... Im rebuilding my credit after my mismanagement in college. I got a prequalified offer for the BuyPower card last week which I jumped at the chance to apply for. My score through Capital One's tracker is 625 and I was approved for a 3k CL with 0% for 12 months. I'm years away from even thinking about buying a new car but I figured it would help rebuild my credit and save for one at the same time. They pulled EQ IIRC

Re: Buy Power Card - Capital One

DeeBee78 — Thu, 04 Jun 2015 20:48:44 GMT

@Indycoltsfan wrote:
I checked the prequal page and I don't prequal for anything, not even the offer they sent me. They have been sending offers for auto financing though. Not sure if this is a legit prequal. Sounds like low CLs are typical. I think I will pass.... Thanks for all the advice!

This isn't a traditional Capital One card. It is a GM card, backed by Capital One. This offer will never show up on the Cap1 prequalifier.

Re: Buy Power Card - Capital One

Indycoltsfan — Thu, 04 Jun 2015 23:12:14 GMT

Thanks, DeeBee78 - that explanation makes perfect sense. I am still going to wait before pulling the trigger - my invite is good until the 4th of July..

Re: Buy Power Card - Capital One

Indycoltsfan — Thu, 04 Jun 2015 23:15:25 GMT

This forum is great for advice - I appreciate yours. Congratulations on your new CL and welcome to MyFico!