Capital One!!!

[Anonymous]

I have been out of the credit game for awhile almost 10yrs(just started getting serious about my credit until 2 yrs ago). My last major CC was with Citi but screwed up that relationship when I was in college. Waited until my scores were in the 600's before I applied for any major cc(current have 2 store cards) After all the letters in the mail from Cap 1 decided to apply got approved with 2 MC cards with $500 limits( no annual fee w/12% interest). Made my first payment not to long ago and received a letter in the mail stating they would increase my limits to $750 for 3 on time payments.

I've heard some horrible things about Cap 1, but right now I need them to help bring up my credit profile.  They aren't crazy w/ the fees like other sub-prime cards. As long as I pay them on time and don't go over my limits hopefully we can have a beautiful relationship...lol

Once I get my scores into prime territory I hope to apply to the major players again. If your looking at Cap 1 for a starter card I say go for it...good luck!

[braznyc]

This is all good info to know!

[mrsgrits]

That's a wow! I missed my payment by 3 hours and they just hit me with the late payment fee. I ended up having to pay enough to get it back under the limit (oops!) and so next month's interest would have a nice landing cushion (lol). I pay online and when I did receive the paper bill in the mail, they had a nice message on it saying, "Oops! You forgot your payment! [and then something one the lines of if you get back on track we won't report this to the credit bureaus]."

However, when I applied for an addt'l card they gave a higher CL than the first card. So I sent a message and asked if both cards could have the same CLs, and they were like you will have to call if you want that. So I didn't worry about it because I didn't want to go through the hassle of calling and waiting. They also don't want you to change from one type of card to another; Chase lets you, if you qualify, of course. Funny thing about it all, a few weeks later I login and both CLs were the same. Ha ha. 

[Anonymous]

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JazzyJ468 wrote:

I've heard some horrible things about Cap 1, but right now I need them to help bring up my credit profile.  They aren't crazy w/ the fees like other sub-prime cards. As long as I pay them on time and don't go over my limits hopefully we can have a beautiful relationship...lol

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Hehe, I'm not a personal fan of Cap1, but that's my own fault for not being responsible enough when I got the card as soon as I turned 18... I'm almost 22 now, and my $300 card is going to cost me around $1000 to pay off and it'll still sit looking ugly on my credit as a paid collection.

Honestly though, I don't think they're a bad company and they definitely beat the pants off all those other cards that give you a $250 limit and after the fees for starting it up you're left with $20!

Good luck on the Rebuilding

-Ja' Net