Capital One (Classic Card)

Fedz

I was considering applying for another card later when my credit rating has improved thanks to Capital One but then I think: well the card design is cool and they at least accepted me when others wouldn't plus I pay the balance in full every month so the interest rate (VISA Classic) doesn't bother me.

Kind regards.

Mr_Softy_Top

Had my classic card for about 12 months, made all payments and usually cleared balance every month. Turned down the last time I asked for an upgrade which was about 6 months back. When I was accepted by Mint and Morgan Stanley (which gave me much bigger limits and lower apr) I phoned capital one up to close the account. That is when they offered me a better deal.

THE_ROCK84

Mr_Softy_Top wrote:

Had my classic card for about 12 months, made all payments and usually cleared balance every month. Turned down the last time I asked for an upgrade which was about 6 months back. When I was accepted by Mint and Morgan Stanley (which gave me much bigger limits and lower apr) I phoned capital one up to close the account. That is when they offered me a better deal.

Did they lower your APR?

Mr_Softy_Top

Yes, from 29.9% to 17.9%. Limit went from 200 to 600. Saying that I probably wont use it all that much as Morgan Stanley gave me a limit of 3 times that.

Karma67

Thanks for all the replies re:upgrading and increasing limits.

I plan to use card very wisely and every month to improve credit rating, then hopefully I can get a card with better APR than 29.9%!! I don't particularly want a higher limit, I just want to be more credit worthy!

Well here's to a wait of about 7-12 mths

Curry_Queen

I applied for a Classic card recently too and I think it took about 3-4 weeks in total from applying to sending off ID, then the credit agreement before I finally received my card, the latter part taking just over a week IIRC. I was very pleased that I didn't have to pay a deposit and they gave me a £500 credit limit

I know the interest rates are exorbitantly high, but I intend to pay off the balance in full every month and just use it to rebuild my credit rating.

How long is it recommended to wait before trying to apply for one of the better CC's elsewhere? I was thinking maybe 6mths? ... as I wouldn't mind having one of the Egg 0% cards

jamesh

My 2nd agreement arrived today,

Called them again, they have recived the old one and a letter has gone out asking for a deposit.

The amount they want is £139 which seems a bit random.

Will happly pay this though.

Str4berr3

finally ran Capitial One and got to speak to someone, apparently they sent me a letter asking fior deposit on the 15th April and on the 29th April. Which i have not received either.
They said that they will send me another letter but suggested sending them a Cheque of the deposit (200 POunds) to speed the process.
Are they desperate or am i EXCITED?! :j

jamesh

Strange two different amounts.

cifpower

The amount of deposit can range from £49 to £200. You could always have applied for a Barclaycard Initial. The APR is slightly lower at 25.9% and no deposit is asked for.

http://www.barclaycard.co.uk/Products/Apply/initial/new.html?previous_page_id=13&link_type=MTE