Has anyone got the Capital One Aspire Elite?

iAMaLONDONER

Has anyone got the Capital One card?

I'd love to get the 5% cashback in the first 3 months!

Is there any point in applying if your salary is under 50k or you're under 21?

geekonthepc

Can't answer the first question, but as for the second you're very unlikely if you're under 21 and not on a decent salary. It's not worth a search on your credit rating, I'd say the odds are <10%.

iAMaLONDONER

geekonthepc wrote: »

Can't answer the first question, but as for the second you're very unlikely if you're under 21 and not on a decent salary. It's not worth a search on your credit rating, I'd say the odds are <10%.

Dw - I'm not applying for anything new for at least 6 months!

I was just seeing if I could get it within a 12-18 month period!

212

No chance. Well, 1% at best.

They also want you to 'own your own home' as well as be 21+ and have 50k+ salary.

Although they wouldn't straight decline on age (a 19 year old could have their own home and earn 100k and so get it). But failing on 2 or 3 of the factors... they probably won't even credit search you - they'll take your age, income & living status from the app form and straight decline, not worth the X that it costs them to run a credit search

iAMaLONDONER

212 wrote: »

No chance. Well, 1% at best.

They also want you to 'own your own home' as well as be 21+ and have 50k+ salary.

Although they wouldn't straight decline on age (a 19 year old could have their own home and earn 100k and so get it). But failing on 2 or 3 of the factors... they probably won't even credit search you - they'll take your age, income & living status from the app form and straight decline, not worth the X that it costs them to run a credit search

Oh , well I just saw the 120 quid annual fee and I'd say no even if they offered to me!(unless they waived the fees of course lool)

guesswho2000

iAMaLONDONER wrote: »

Oh , well I just saw the 120 quid annual fee and I'd say no even if they offered to me!(unless they waived the fees of course lool)

Wise move, there's more chance of Charles being King than CapOne waiving the fee. I had the Aspire World when it was available and doubt I'd have stood a chance with the elite, even as a homeowner

What about the Aspire Business, though? They say its a business card, but it's actually a personal card aimed at those with business expenses. Maybe you'd consider the "expense" of commuting a business expense . Or, as I do, you might cover a lot of mileage for work which you claim back, this is a business expense and despite the cashback would be a way of keeping it separate?

iAMaLONDONER

guesswho2000 wrote: »

Wise move, there's more chance of Charles being King than CapOne waiving the fee. I had the Aspire World when it was available and doubt I'd have stood a chance with the elite, even as a homeowner

What about the Aspire Business, though? They say its a business card, but it's actually a personal card aimed at those with business expenses. Maybe you'd consider the "expense" of commuting a business expense . Or, as I do, you might cover a lot of mileage for work which you claim back, this is a business expense and despite the cashback would be a way of keeping it separate?

Don't they said you would need a business name (and number of employees) lol?!

I doubt that wouldn't be breaching the T&Cs!

JakeGreen

iAMaLONDONER wrote: »

Is there any point in applying if your salary is under 50k or you're under 21?

This card is one that I have my eye on for when I'm doing up my house next year for the 5% cashback.

It comes with a straight 12k limit, no more, no less. So it's only worth applying for if you feel you can get such a limit and your credit history will need to be clean for sure.

What's your highest credit limit so far?

Under 21s will probably be a straight decline.

Hominu

JakeGreen wrote: »

This card is one that I have my eye on for when I'm doing up my house next year for the 5% cashback.

I thought the same, I'm 40 in full time employment earning 40K before tax, own and paid off the house I live in, clean credit report for 10+ years, no debt, etc, and got a straight decline. That was a few months back and I can't even see that they've checked my credit report on Equifax or Experian.

Maybe I answered one of the questions incorrectly, but apparently I can't re-apply for 6 months.

They have since spammed me with there other cards though, sometimes with only a week between mail shots.

OllyM

The credit limit is fixed at £12,000 so if your salary is £40,000 I imagine that is why you were declined.

[Deleted User]

OP, why not apply for the Amex Platinum credit card? It has the same 5% intro cash back (admittedly only up to £100 not £200 as with Capital One) and far lower requirements - 18 years old and income of £20,000.

When you look at the big picture I reckon it's significantly better for smaller spenders (and by small I mean less that £15k a year):

- £25 annual fee versus £120 - there's your extra £100 (ok £95) cashback right there.

-Capital one has no Quidco Cashback, the Amex has £20.

-Cashback rate on Amex after intro bonus is 1.25% versus 1% (unless you're going to spend over £15k a year). And if you are going to spend a lot (Over £10k), you get 2.5% bonus with the Amex in your anniversary month.

-Get a referral for the Amex (I can help!) and you also get an extra £25 cashback on your first purchase.

So really, IMO the Amex is the better product all round, unless you're going to be spending serious cash on the card - and if that's the case I reckon you'd be better off with a rewards card like the Amex Gold anyway as the points would probably be worth more that the cash back...