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Capital One Secured Credit Card
lala9
Posts: 686 Forumite
in Credit cards
Has anybody had one of these/applied for one of these?
Any thoughts on them?
Any thoughts on them?
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Comments
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I sincerely hope they don't exist.
Also, I'm moving this to the credit cards board as isn't relevant to bankruptcy. It should get better responses there.Total 'Failed Business' Debt £29,043
Que sera, sera.
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immoral_angeluk wrote: »I sincerely hope they don't exist.
By 'secured', looks like they actually mean by a one time security deposit.
http://www.capitalone.co.uk/creditcards/secured-credit-card.jsfimmoral_angeluk wrote: »Also, I'm moving this to the credit cards board as isn't relevant to bankruptcy. It should get better responses there.
If they are really easier for a discharged BR to get and build up a positive credit history, then they would be extremely relevant.
But with most of these things, apparent short cuts usually turn out to be nothing of the sort. As the pre-paid cards reporting to CRAs as loans has shown, where they are next to useless.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
I posted in the bankruptcy area as I am a discharged bankrupt trying to rebuild my credit, and exploring different avenues. But thanks anyway x0
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I have one of these, paid £200 deposit for a £200 limit card, sounds a bad idea???
No, it's been brilliant, after 6 months you apply for their progress card and hopefully they should give you that on the back of a well run secured card. Also green 00000's on a CREDIT CARD should do wonders for your file. It works exactly like a regular card.
I now have a unsecured card with 200 limit and my partner received as 500 limit.
So to recap, pay the deposit they ask for, upto £200. Run the account well for 6 months then apply for their progress card.
RegardsI have numerous qualifications in Business and Finance, Accountancy, Health and Safety and am now studying Law.
Don't rely on anything I write as it may be wrong!!!0 -
That's a relief!By 'secured', looks like they actually mean by a one time security deposit.
http://www.capitalone.co.uk/creditcards/secured-credit-card.jsf
If they are really easier for a discharged BR to get and build up a positive credit history, then they would be extremely relevant.
But with most of these things, apparent short cuts usually turn out to be nothing of the sort. As the pre-paid cards reporting to CRAs as loans has shown, where they are next to useless.Total 'Failed Business' Debt £29,043
Que sera, sera.
0
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