After narrowing down my choices for a first credit card I went to Capital One's website and clicked on "See if you're pre-approved" to my surprise the card that it said I was approved for was much better than the one I had been trying to get. The card they offered was the Capital One No Hassle MilesSM Rewards card with a 13.9% variable rate and no annual fee. The card I wanted was the Capital One Standard Platinum, which has a 19.8% variable rate with no annual fee.
My credit rating is 660 which is almost exactly between fair and good, but this card is listed under good, which seems kind of weird? I have student loans, but have never had a credit card. It seems weird that they'd offer me a card for my "excellent credit" that is much better than I thought I was qualified for?
Anyways I don't plan to use my card for much more than building credit and pay the full balance, so the credit line and rate don't matter too too much. Still I want the best card that I can get.
PS. I have no use for a rewards card at all, but they have a 12.9% variable Capital OneŽ Platinum with no fee in the good score range. Is it right to deduce that I could get this card if I can get the miles one?
I'm also considering the Citi select card for college students, but Cap1 has less fees, roadside assistance, and sounds like a better deal.