Capital One Classic

moldypeaches

Hi
I am posting on behalf of my partner.

He has no CJJs etc. but he has had problems with student debt in the past and his credit profile 'needs improvement'. His salary is £30 k + and he has been in the same job for 7 years, same house for over three and same bank for over 4.

With this in mind he took Martin's advice and applied for a Capital One Classic card - with the intention of making a transaction and clearing the balance every month in order to build up his rating.

He expected an immediate decision, but they said he will hear from them in 7-10 days. In the past this has meant that he has been unsuccessful - is this likely to be the case now?

GeorgeUK

If he is having trouble getting a card, has he tried going into his own branch where he has his current account, rather than trying online?

No idea about the Capital One thing though.

moldypeaches

They often ask him to apply - his wages are decent and he has never had bank charge, and so the clerks obviously get a flag up saying 'ask him to apply': then he gets knocked back!

Volcane

And was he accepted?

(I had a refer when I applied for my Capital One and was still accepted with a £1k credit limit so it's not always bad news to get a refer).

skyrider007

Maybe they just need to verify your address and identity.

jimbo26

I didn't get an immediate decision but was successful. It does seem quite common with Capital One.

Volcane

After having the card for a while and receiving a credit limit increase a few months ago they have today sent me a chequebook.

A 3% handling fee, 34.9% APR and interest charged from the very day the cheque goes on my file (ie no interest free period).

Seems they are doing everything to get some money out of me, but I have shredded the cheques.

They shall get not one penny interest out of me!:D

PROLIANT

I wish people would stop complaining about capital one, they gave me a credit card when even vanquis wouldn’t, you have been given that card for a reason and that reason is because you must have a low credit rating, be thankful mate, pay it off every month on time and watch your credit rating go up, capital one’s customer service isn’t too bad either, I cant stress this enough, if like me you hold a high interest card like the capital one visa or vanquis, be thankful cos nobody else will even consider you if you have poor credit history.

skyrider007

I like CapitalOne. I never borrow from anyone so I just use the card and pay it off in full. Their cards are cute too.

Volcane

PROLIANT wrote: »

I wish people would stop complaining about capital one, they gave me a credit card when even vanquis wouldn’t, you have been given that card for a reason and that reason is because you must have a low credit rating, be thankful mate, pay it off every month on time and watch your credit rating go up, capital one’s customer service isn’t too bad either, I cant stress this enough, if like me you hold a high interest card like the capital one visa or vanquis, be thankful cos nobody else will even consider you if you have poor credit history.

My credit history is good now but admittedly it wasn't when I took the Capital One card out. In fairness it did help me build up a good history and I now have :

Post Office Card - for purchases on holiday
Egg Money - For it's unique features and 1% cashback (use it for grocery/petrol shopping)
Virgin / MBNA - For it's long 0% super balance transfers.

My Capital One card doesn't get used now as it has no use, although I have kept the account open so I can continue to receive the Equifax facility.

Capital One does what it says and does repair history but I do not like it's call centre and it's website is slow to update (the Post Office website facility is worse though).

And that's all I have to say about that.

jimbo26

Volcane. I'm in a similar situation. Want to keep the Classic card for the Equifax credit watch. One question do you put something on the card each month to keep it live, or do Capital One keep it open without any useage?