Capital One "Builder Program" Credit Card

[jacetx]

Topic has been discussed in this thread already.

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-quot-Builder-Program-quot-Credit-Card/td-p/...

[Dalmus]

---

@Cotton_Britches wrote:

---

@Anonymous wrote:

IS there another link to the Credit builder application? When i go on, it says this offer has expired, please help

---

Just tried the link in Firefox and got the same message. Maybe it was a trial run for the program and not an official roll out yet. You could always call Capital One and inquire about it, or see if you could do the app for the program over the phone.

---

 Maybe there are purposely limiting their exposure?  "Let's allow 10,000 applicants to start with, and see how many default."

 If they make money on it (and even if you carry a $100 balance, interest on $100 is not much), they'll open up more applications?

[Jerry45]

---

@jeremy86 wrote:

Hello All,

I was lurking on Cap One site (always check to see if I pre-qualifiy) and I noticed that they have a new product called a rebuilder card. $100 inital credit limit, no deposit or upfront fees and after 5 monthly payments, there is an automatic CLI to $500. I have their secured card and they are no longer accepting deposits on secured cards, so i wonder if this new product will phase out their secured card. Seems to me that if those that are in rebuilding mode are looking for a CapOne product to help them rebuild, they would go for this new card instead of a secured one. Didn't apply as I have worked up to QS cards. 

Hope this helps someone and i will be curious to see if anyone has this card already. Happy Friday community! 

---

Good deal. should help a lot of people

[Anonymous]

for anyone wondering about this link. It is back up. My mother just applied and got approved.

[KSK1912]

Good News Everyone ( I love Futurama)

Unless it has been published here, since i could not read all the posts..

Just got off th chat wit Cap One, IF you are an AU on someone else's account, you are eligible to apply for this card, and the most important of all, the card is eligible for PC down the road. Not sure what you can PC it too, as i only have one secured Cap One account, but i am sure more seasoned Cap One customers can pitch in on that and see where this card can take it too. So with that being said, i think it makes this card a no brainer for people with limited credit history.

Can we say bye bye to Credit One and such sub-prime lenders???

[Anonymous]

---

@KSK1912 wrote:

Good News Everyone ( I love Futurama)

Unless it has been published here, since i could not read all the posts..

Just got off th chat wit Cap One, IF you are an AU on someone else's account, you are eligible to apply for this card, and the most important of all, the card is eligible for PC down the road. Not sure what you can PC it too, as i only have one secured Cap One account, but i am sure more seasoned Cap One customers can pitch in on that and see where this card can take it too. So with that being said, i think it makes this card a no brainer for people with limited credit history.

Can we say bye bye to Credit One and such sub-prime lenders???

---

My guess, knowing Cap One and how they play the MasterCard game -- once these guys graduate from the builder program and become regular Platinum cards, they may become eligible to be PC'd into QuickSilver MCs.

Of course, this is speculation, but that's my bet.  

[gdale6]

Two threads on same subject have been merged into one.

[Anonymous]

I would rather have this card other than the current secure card I have now with them. Can I apply for this card and close the secured? It seems unfair to me because they will not approve me for a regular unsecured card and I PIF every month sometime twice a month and I've been denied each time now. What's the point of having the secured card at this point? 

[Anonymous]

I opened this card a month ago and today I logged on to find that they had closed it. Their reason was that I have a secured card with them (I got it at the same time) and the credit builder card rules are you may only have that one card with them until it graduates. I am NOT happy with them AT all right now. I have a Discover IT Secured, the Capital One Secured, and Fingerhut Freshstart. Guess it's time to go shopping for a third card again.

[Anonymous]

---

@Anonymous wrote:

I opened this card a month ago and today I logged on to find that they had closed it. Their reason was that I have a secured card with them (I got it at the same time) and the credit builder card rules are you may only have that one card with them until it graduates. I am NOT happy with them AT all right now. I have a Discover IT Secured, the Capital One Secured, and Fingerhut Freshstart. Guess it's time to go shopping for a third card again.

---

I'm with you they should have never let you get both, in the 1st place (it's NOT like both are needed, anyway) and closing the account in that matter is

bush league.

However, if I were you I'd chill out on 'shopping' for a 3rd secured card ..it isn't needed...you'll do fine with managing the accounts you have now.

There is NO need to secure funds in yet another account.

You've got cards with 2 of the top 6 issures in the country and while if there were a choice the credit builder Cap1 is better than he secured...the secured will fill the bill.

Plus you have a great card with Disco that will graduate with a great well known bank...between those two accounts within a few statement month you'll be fine for unsecured cards elsewhere, so chill out with the 'need' to hunt down another secured card garden the ones you have Disco can offer SP CLI's so add water and sun to the seeds you have and you'll be just fine..