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“The Capital One Classic Credit Card proved to be good...”

written by o2guy on 13/02/2006

Good Points
VISA so accepted everywhere.
Great for repairing your credit rating.
Realistic credit limits.
Choose your own statement date and card design.

Bad Points
Exceptionally high interest rates if you dont clear your balance in full.
Foreign call centres who read from script.
You cannot ask for a credit limit increse, you must be invited!

General Comments
The Capital One Classic Credit Card proved to be good for me. My credit rating was absolutely shocking due to shear stupidity when I turned 18 and was like a kid in a sweet shop, my fault but mistakes I paid dearly for with my credit rating. Anyway, I applied for one of their Classic cards on the "we'll say yes if you do" scheme, where by as long as you are not bankrupt and are on the electoral register and not on a CIFAS fraud database, you are guaranteed to be accepted, but you may need to pay a fee. So, I waited for my card but got a letter saying a £149 deposit was needed for a credit limit of £200.I wasn't too bothered about this, after all, I am a high risk customer in their eyes, so I paid the money over the counter at the bank, and about 10 days later my lightning design card dropped through my letter box. I used it on holiday and found it most useful for things like duty free purchases and also when I got home for online shopping. I have paid in full, on time evey month for the last 6 months I have had the card, and even overpaid some months, a mistake on my part but apparantly one that goes in your favour where your credit score is concerned. I have been happy with the card but decided to try for another card, just to see if I'd get it, and to my shock I did, with a UK provider, with a £500 limit, which although not huge is perfectly fine for me! Thanks Capital One, your card has done what it was supposed to and rebuilt my credit.




Update 17th March 2007




Just to add to my review, their customer service is less than useless and they are now increasing my interest rate from 27.9% APR to 34% APR! No reason given, just that it was bring it in line with all the newer classic cards, and they say to have my deposit back of £130, I have to close the account a re-apply. I will do just that, only I wont be re-applying!!