18 Months Interest Free with Capital One

MarkyMarkD

Sorry. The namechange was my error  :-[ It is true no point except that the online one advertises 18 months at 0% on page 1 but shows 6.9% on page 2 so no real guarantee of what rate you are signing up for. ???

No, I've already explained this one.  6.9% APR is the relevant APR based on 0% until 18 months is up and then 11.9% thereafter, assuming you make the minimum payment.  So it's not unclear which rate you'll get - IF you get the product advertised, you will get 0% for 18 months.

My letter regarding the 0% product also clearly states the APR as 5.8% (lower because the "go to" rate is 9.9 rather than 11.9) and I'm definitely getting 0% for 18 months.

And re Tiger's point - yes, they process them in order and part pay the last one if your limit runs out!

jellyfish_2

mark101, I received the same response when I applied online (probably about the same time.)

Capital One might have had problems checking information against Experian at the time of application - I was not searched against the agency until the day after the application online.

Has anyone applied online and received an instant decision?  Which credit reference agency was used?

SimonN_3

>:(

I applied and got rejected for the 18 Month 0% but was instead given approval for their 6 Month 0%.

Don't really know why as I have never had any credit problems and earn over £80K per year. I quess they assume that they would not make any money out of me.

How can a card accept you for a 6 Month deal and not the 18 Month deal. Should I appeal or complain?

>:( >:(

mark101

How can a card accept you for a 6 Month deal and not the 18 Month deal.  Should I appeal or complain?

Go elsewhere its like talking to a brick, you can get better than 6 months see the other threads. I reckon I'm also going to get rejected - what was the time frame getting back to you?

Mark

super_reds

I also was offered only the 6 month deal. The letter I received states that you can appeal and you 'should include as much relevant information to support your case' or words to that effect.

Apart from the information about payment history which they would have from my credit file what else can I include to make my case any stronger.

Or am I wasting my time?

t_i_g_e_rr

You could tell them about any savings you have (including statements as proof). They can't see this on your credit report. Tell them you have the savings in instant access accounts but don't want to touch them unless you really have to. I think this has helped some people on this board before.

travel_freak

Simon N:

I think it is worth you writing a letter to seek an explanation / complain. A while ago I applied for an interest free card and was declined. I have many cards with high limits and a spotless credit history, plus some savings so I did write to ask (1) why I had been refused (2) to explain my situation and (3) to ask them outright whether they had refused me because my credit history was so good and they thought they wouldn't make much money out of me. I can't remember the card supplier now but I did get a swift and very meek "sorry, we made a mistake" reply and the card followed in a matter of days. I think it's worth writing at least 1 letter but then as Galstonian says I suppose ultimately they can "pick and choose" their customers.

Good luck.

kbabar

Men and women of money saving land. Behold!

http://www.capitalone.co.uk/web/templates/product_temp_01_001.jsp?page_i d=103&context_id=2&pageId=103&product_id=131

Smiley Smiley Smiley Smiley Smiley Smiley Smiley Smiley

Found the advert on Yahoo mail. Enjoy!

t_i_g_e_rr

applied through this link, the system processed the application but did not get accepted instantly. I thought i would be rejected because cancelled their previus card about 3 months ago but received their letter today that I have been accepted for 0% 18months deal and they asked me sign the form and send it back ;D ;D ;D. previously had £10,000 credit limit on my last capital one card so hopfully things will get better. Filled the BT form. both egg and mbna are waiting to receive the money.
thanks to the poster for this link. ;D ;D

t_i_g_e_rr

Wow. That was quick. Like I said, I wan't accepted online instantly either. There's hope . When did you apply? What I mean is, how long did it take for the letter to come through?

kbabar

I think it was last week. when I saw this link. I couldnt resist..I actually forgot about that but suddenly letter came this morning. quite happy. hoping to get atleast 10k ( which was my previous limit)