Capital One Question !

Chrisblue1962

MichaelCR wrote: »

It did the 3 checks on the one minute application all with green ticks, then took me to a page offering a capital one (mastercard) so long as I pay a £200 deposit within 80 days, I signed and agreed and was given a long reference number which i wrote down, I'm wondering A. what my credit limit is going to be, And B. After lets say 6 months of good account conduct whether I could apply for a classic or progress and close down the secured card !

Either way even a credit card with a £50 limit would do me just fine seeing as i'm only using it to build up my terrible credit history, Pay it in full and on time everytime !

I've heard of capital one giving secured cards in the past, but then they just rejected applicants, me to was rejected around 8 months ago !

I'll keep you guys updated !

Thanks MichaelCR, will keep you / everyone posted how my application proceeds (or not!!! lol ) too.

MichaelCR

Chrisblue1962 wrote: »

Thanks MichaelCR, will keep you / everyone posted how my application proceeds (or not!!! lol ) too.

Thanks ! By the sounds of it you've been approved to ! did you receive a long reference number ? I am counting on a letter through the post next week with instructions on how to deposit the funds ! last time i applied i was referred then declined maybe they trust me an ounce more.

Gives us both a shot at building our credit histories ! Even if it is costing us £200 ! Just use it to make small purchases and pay it off in full before the 56 day interest period

InsertWittyName

Just got one of these for the OH (SAHM and no previous credit).

We had to pay a £49 deposit for a £200 limit.

Card should be here in 7-10 days.

We got the link to pay and the reference number via email.

Chrisblue1962

Hi MichaelCR

Received long reference number when completing application.

Just waiting for Mr.Postie to bring some good news later this week

Will update thread in due course.

Robo787

Hi,

I wouldn't bother getting a Capital One card. I've had one for a few years now, and they have never offered me an increase on my limit even though i used to pay the outstanding amount off in full for the first 12 months or so.

BE CAREFUL AS WELL, WHEN YOU MAKE THE MINIMUM PAYMENT THEY ADD THE INTEREST ON YOUR ACCOUNT ABOUT 4 DAYS AFTER THE DAY YOUR PAYMENT WAS DUE, THE INTEREST IS NOT INCLUDED IN YOUR PAYMENT.

IF YOU DON'T PAY AT LEAST £6.00 OVER THE MINIMUM PAYMENT, ONCE THE INTEREST IS ADDED IT WILL TAKE YOU OVER YOUR LIMIT AND THEY WILL CHARGE YOU £12.00, THIS IS BASED ON A £200.00 LIMIT.

BE WARNED, I'M GETTING RID OF MINE ASAP.

The interest is 34.0% APR.

aldredd

MichaelCR wrote: »

After lets say 6 months of good account conduct whether I could apply for a classic or progress and close down the secured card !

Capital One don't allow you to apply for a new card if you already have one. You have to close the account down, then re-apply.

hayton2k3

aldredd wrote: »

Capital One don't allow you to apply for a new card if you already have one. You have to close the account down, then re-apply.

don't tell lies. give proof to your claim or real facts.


Cap One DO allow you to hold a progress if you already own a classic. Don't be fooled by your false info FACT.

weejan

I also applied for a capital one card, I recieved a letter around a week later to say my application had been declined but had been approved for a secured card. To recieve the card I have to pay £99 security deposit and will recieve £200 limit. I haven't yet decided whether to accept their offer and pay the deposit, would like some additional information such as possibility of increases in the future etc although this seems impossible to find.

aldredd

hayton2k3 wrote: »

don't tell lies. give proof to your claim or real facts.

To tell me I'm lying is a little extreme do you not think?
Instead, why not try and be helpful and link to something that show's I'm wrong?

As it happens, yes I was wrong - they've clearly changes their rules as it DID used to be the case that you could not apply for a card whilst you still had an open account elsewhere with them.

LINK

I already have a Capital One card. Can I apply for another one?

Yes, if you've had a Capital One account for over 6 months you can also apply for some of our latest products. Take a look to see if one of these great cards also suits you.

weejan

InsertWittyName wrote: »

Just got one of these for the OH (SAHM and no previous credit).

We had to pay a £49 deposit for a £200 limit.

Card should be here in 7-10 days.

We got the link to pay and the reference number via email.

Do you have any idea whether you will be eligible for limit increases in the future?