Did you get accepted for the Capital One card?

danjaq2004

Can you tell me why one would be rejected by Capital One - isn't this the 'guaranteed' one?

Bargain_Rzl

danjaq2004 wrote:

Can you tell me why one would be rejected by Capital One - isn't this the 'guaranteed' one?

Capital One offer "a" guaranteed card. They also offer several others. The one which has the long term 0% offers attached to it is not the same as the guaranteed card.

Cards like the Capital One guaranteed card are meant for people with poor credit ratings and lend very cautiously - high APRs, returnable deposits, low limits. Most 0% deals from any credit card company, including Capital One, will only accept people with a decent credit score because they are less likely to lose the company money in the long term.

danjaq2004

Well, let's see how I get along - applied this morning (online) and seeing as though I pass all the 'short list' criteria, I assume I 'WILL' get it!

Keep you posted.

danjaq2004

Heard back from Capital One. Have been accepted, signed terms and conditions and waiting to hear what card I have been offered. Incidentally, was turned down by my bank for a card ...crazy!

Experian is used by both Capital and my bank, so I wonder why my bank declined me?

Milarky

[I can ask Capital One this - but there's no guarantee they will answer correctly]:

Are further balancetransfers, also at 0%/no fee, allowed once you begin making minimum payments [of 3% reducing balance] through the 18 month period? The minimum transfer is £100, I understand. Over that time you will repay about 39% altogether and the avergage balance will stand at about 78% of the initial balance. This makes it worth doing further small BTs if they allow them on the same terms.

Thanks in advance

YorkshireBoy

Milarky wrote:

Are further balancetransfers, also at 0%/no fee, allowed once you begin making minimum payments [of 3% reducing balance] through the 18 month period? The minimum transfer is £100, I understand. Over that time you will repay about 39% altogether and the avergage balance will stand at about 78% of the initial balance. This makes it worth doing further small BTs if they allow them on the same terms.

Thanks in advance

My wife applied via the online link from this site. She was told that she could do further BT's throughout the 18 month period at the same 0% fee-free rate.

She logged the call details in case she needs them later. Should be really easy to find as well because she was given this confirmation during the card activation process.

HTH
YB

j_dlaw

I plan to do as the last couple of posters and do small BT's after each minimum payment each month.

As I don't have any CC debt that's not at 0%, I'm using it to pay off my Sainsburys daily spend CC that I pay off each month anyway.

Milarky

..at least that's what it says in small print on the back of the acceptance for the Capital One 18 months - spotted today!!

[Just thought it would be helpful to advise anyone still to apply]

YorkshireBoy

You're correct Milarky - just checked the wife's acceptance letter, and it says "This product is available until 01 July 2005".

I have an 18 month postal application that is valid until 01 August 2005. Is this not the same "product"?

I think I'd better ring them up to find out if this date is the last date you can "apply" by, or if its the last date you can be "accepted" by - can't apply now as too many applications recently, but wouldn't want to miss out .

t_i_g_e_rr

YorkshireBoy wrote:

She was told that she could do further BT's throughout the 18 month period at the same 0% fee-free rate.

This is correct. My mum has paid off some of here spending credit card every month to keep capital one topped up. She hasn't been charged. I am going to top up my tesco card with spending (0% on BT's AND purchases) and pay off the tesco minimum payment with my capital one card