Capital One - Excellent or Poor Credit History Only

jimbo26

Looking on the Capital One website this morning and have noticed they only offer cards to people with excellent or poor credit history only! When did this happen? I'm sure a short time ago they catered for people with good credit history.

Capital One define an excellent credit rating as:-

• I have a credit card with a credit limit of at least £5,000
• I have never missed more than 2 payments on a credit card or loan
• I have credit card balances of less than £10,000
• I don't have any previous credit defaults (CCJs, current arrears)
• I am a homeowner
• I have an income of over £20,000

PARIS_5000

whats your question

nzseries1

PARIS_5000 wrote: »

whats your question

The question as stated is "When did this happen".

It happened a while back, they brought in a card for a "good credit rating" but then they took it off, that card was only available for a short time. Most other times I've looked at their site they only have the "excellent" and "poor" cards available.

If I'm not mistaken, the "excellent" criteria used to include "I have had a credit card for at least 5 years", but now it doesn't. They must have relaxed the rules a bit.

jimbo26

PARIS_5000 wrote: »

whats your question

Are Capital One no longer catering for people with good/ average credit ratings?

Merlinexcalibur

Capital One is a card that is aimed at people with poor credit history and to help (their words not mine) them rebuild their credit history. Like the Aqua card is. Depending upon which card you were looking at on their site. Other than that I cannot offer an answer. I would need to get into the smaller details, how that company works. Which is difficult because I would need to be on the inside not the 'out' as a consumer. Hope that made sense.

RoyBrock7898

I received a very nice letter from Capital One today. As a valued customer they thought it only right to tell me that because it was hard for them in these difficult times to raise funds that they would increase my interest charges from my March statement to 22.9%.

I had an interest free 16 month balance transfer with them. Unfortunately I cleared the balance last month and accidentally shredded their cards.

What should I do?:D

Jemma-T

I'd say you have either a good or bad credit history. If you start disecting it you'd need 100s of descriptions.

Just look after it. If you didn't in the past, start now. I'd guess the vast majority of us (me included) have a slightly dodgy credit past but that's part of what credit is about and it's how life is. Nothing wrong with that.

The further away you are from a bad (or nonexistent) credit history the more attractive you become to people who want to give you money (credit). And we all like money

NickX

Merlinexcalibur wrote: »

Capital One is a card that is aimed at people with poor credit history and to help (their words not mine) them rebuild their credit history.

Capital One do offer the "Credit Builder" card but they also offer some products geared towards those with "excellent" Credit Ratings.

Indeed their offerings to those with "good" ratings appear to have been withdrawn.