Capital One - Bad Credit Score

TMPilot

Hi,
I heard Capital One offer a credit card (34%) for students and others with bad credit history. So, I applied today and was accepted, despite my history and the fact that I'm not on the electoral register.

Does anyone use the same credit card? I was just looking for some past experiences with them. I plan on using £500 when I get it.

Thanks,
Rhys.

seeya23

i got capone card but only got £100 limit you may only get a low limit to start with

Kavanne

using £500? don't ever leave a balance on this card, always pay it off in full!!

PNPSUKNET

I was given £1,000 to start

debtdestroyer007

i started at £100, on the 4th statement it went up to £300, i have been stuck with that limit for 14+ months now....

good news , i am dumping this as i now have mainstream credit cards like barclaycard platinum and smile visa gold etc etc......

good luck mate and use it sensibly- it will pay off in the end

TMPilot

Thanks for the replies.
I intend on using the money to cover some direct debits temporarily which I can pay back within the next 2 months.

I'm new to credit so not sure how it works entirely.

You can just send the money to a bank account right?

The minimum repayments, 2.5% for example, are such that on a £1000 balance the repayment would be £25.00 on the first month. And say for 30% APR, around £26??

Thanks,
Rhys.

jd87

TMPilot wrote: »

I'm new to credit so not sure how it works entirely.

I think you need to do some reading here and find out how it works because you don't seem to have a clue.

TMPilot wrote: »

You can just send the money to a bank account right?

No.

comparemytunes

I have a Capitall One visa card that I got as a student. Had a £200 limit on it when I got it and still has that now. I use it rarely because of the low limit. Would have used it more if they bumped up the limit but with only £200 available I never want to run the risk over going over the limit when I have available funds elsewhere.

Peeky

I feel sorry for the employers of people that get to an age of 18+ years and have no clue about things.

TMPilot

Peeky wrote: »

I feel sorry for the employers of people that get to an age of 18+ years and have no clue about things.

Well how do you expect people to learn? They don't teach you everything about credit in uni. I was hoping to learn here, but by the sounds of it you have better things to do?

Oh and FYI, I'm a year into a degree in aviation techonology, and will be a fully trained pilot in 2 months. My employer is Google. I feel sorry for them too...

LeeSouthEast

You've perked my interest.

Google Airways?