Capital One Card

wescottdebt

I am looking to increase my Credit Rating and according to Capital One's website and they tell me I will be 100% accepted Classic card if I set up a Direct Debit.

Any Card I plan to pay in full anyway every month as I don't want any crazy interest on my money as I just want to gain credit.

What I am asking is at the bottom it says:

"Just remember
When you set up your Direct Debit make sure there is enough money in your account or it may not get processed and you could incur fees."

Are they going to take money out of my account before I even use it or are they saying that in the term of make sure I have money for when the statement comes so I can pay off my balance with debit?

Also are there any other cards anyone recommends for gaining credit?

Also I am going to be away between November-January and won't be using my card at all, that shouldn't be any issue correct and I should incur no charges?

[Deleted User]

wescottdebt wrote: »

Are they going to take money out of my account before I even use it

If you are truly so oblivious of how a credit card works , I'd recommend you not having one at the moment..

However, you can indeed build a credit rating by making purchases on a card and then paying the bill in a timely fashion..

wescottdebt

Moneyineptitude wrote: »

If you are truly so oblivious of how a credit card works , I'd recommend you not having one at the moment..

However, you can indeed build a credit rating by making purchases on a card and then paying the bill in a timely fashion..

I meant it in the sense of taking 1 Pence out from my direct debit before I use the account. I ask because they will not give me a Credit card without setting a direct debit up.

I do realise they are not going to take out hundreds before I use it and I just worded it wrong.

Ben8282

It is highly unusual for a lender to make this issue of a credit card conditional upon the setting up of a direct debit.
When setting up direct debits for credit cards it is not usual for a 1p test direct debit to be taken.
You say that your sole reason for applying for this card is to increase your credit rating and ask for recommendations for gaining credit.
In order to offer any recommendations it is essential to know the ultimate purpose of this desired increase in your credit rating and what sort of credit you actually want to obtain, which is presumably not a better credit card.

Dandytf

Cap 1 won't take anything until nearer your 1st dd payment is due.

As the earlier post, if you have concerns of 1p being debited, then maybe your best not applying for any credit card at all.

wescottdebt

Dandytf wrote: »

Cap 1 won't take anything until nearer your 1st dd payment is due.

As the earlier post, if you have concerns of 1p being debited, then maybe your best not applying for any credit card at all.

No concern at all, just wondering if that is what will happen

Lith

Cap 1, won't take anything UNTILL you use the card...... (i have a Cap 1 Card) had it for years and i've never used it... still active but no DD has ever been taken.


why would they take a payment if i don't use the card? half of my DD are credit card based.


Second you start using the card say it £5 or £500 they'll get the money back via DD whatever the amount is you owe.

Dandytf

To be fair, lots of websites debit 1p befor deducting full amont, paypal is one example.