Capital One Secured Card

lordjmorris

Hello All ,

Recently applied for a capital one classic and got declined , however i was offered a secured credit card with £200 credit but i have to pay £200? which i do not understand..

My credit rating isnt the best and i want to build it up so would this card be best for me?

Is there any chance of a credit increase in the future? or will they move me on to another card for example?

Any advice will be appreciated

Thanks

System

lordjmorris wrote: »

Hello All ,

Recently applied for a capital one classic and got declined , however i was offered a secured credit card with £200 credit but i have to pay £200? which i do not understand..

My credit rating isnt the best and i want to build it up so would this card be best for me?

Is there any chance of a credit increase in the future? or will they move me on to another card for example?

Any advice will be appreciated

Thanks

The secured card is offered to people with poor credit. You pay £200 as a security deposit and you get it back when you eventually close the account. If you never clear your balance they keep your (their) £200 (or the difference between your balance and that amount),

Other cards to try include vanquis, aqua (perhaps your own bank?)

reclusive46

teepee83 wrote: »

The secured card is offered to people with poor credit. You pay £200 as a security deposit and you get it back when you eventually close the account. If you never clear your balance they keep your (their) £200 (or the difference between your balance and that amount),

Other cards to try include vanquis, aqua (perhaps your own bank?)

One of my sons just turned 18 and wants to have a good credit history for later on and was wondering is it worth applying for a Aqua or Barclaycard initial (He is with Barclays Bank) or just applying for secured card. Will all the enquires make capital one decline him for the secured card or do they only decline if you have a CCJ?

Also are these secured cards offline? Ie. Do they still work at Train stations, planes and petrol pumps?

[Deleted User]

reclusive46 wrote: »

One of my sons just turned 18 and wants to have a good credit history for later on and was wondering is it worth applying for a Aqua or Barclaycard initial (He is with Barclays Bank) or just applying for secured card. Will all the enquires make capital one decline him for the secured card or do they only decline if you have a CCJ?

Also are these secured cards offline? Ie. Do they still work at Train stations, planes and petrol pumps?

I was accepted by my own bank for a student CC @ 18.

I'd try CapitalOne initially, they should at least give him a £500 card. Unless he has bad credit already he won't need a secured one

POSTIE9_2

Applied for a Capital One Secured Card 3 days ago which was granted and I have to pay £49 deposit. Since then I have heard nothing from them. Can anyone advise what happens now regarding paying the £49 deposit?

moshoodo1

POSTIE9 wrote: »

Applied for a Capital One Secured Card 3 days ago which was granted and I have to pay £49 deposit. Since then I have heard nothing from them. Can anyone advise what happens now regarding paying the £49 deposit?

You have to wait for about 3 -7 days in most cases and they will send a link to your email where yo can pay the required deposit.

In some cases, they may write you to provide some ID.

Regards

POSTIE9_2

moshoodo1 wrote: »

You have to wait for about 3 -7 days in most cases and they will send a link to your email where yo can pay the required deposit.

In some cases, they may write you to provide some ID.

Regards

Thank you very much for your help

Regards