Hello! I've gotten approved by Cap 1 for a limit of $200 with a fee of $99. The letter that I received from them was dated on January 6th and says that I need to mail out the fee and my info (My SS# and signature) within 30 days from the date of this letter in order to receive a credit card, which is coming soon, BUT I've mailed out both an application and a deposit to FCNB already, probably 2 weeks ago, and I haven't heard from them yet. I don't know if I got approved by FCNB, but if I did, I'd prefer dealing with FCNB to Cap 1 because I have read and heard about FCNB nothing but good things. But if I kept waiting to hear from them, I may miss this chance to get a credit card from Cap 1. My questions are if I should just send out the fee and my info to Cap 1 before I hear from FCNB? I'm not going to get bunch of cards, but is it better to have more than one credit card to build credit? Thank you!
RE: Better having more than on Doris, For credit-rebuilding purposes, a second card would help. If you can swing the deposit, go for the Cap One. hehehe Roni says the color of the classic card is ugly but maybe you can memorize the account number and keep it hidden. Overall, Cap One has good customer service. I've never had an unpleasant experience. They are stengy with increases; but, other than that, you shouldn't have any problems. Good luck with the FCNB. Donna
RE: Better having more than on I say go for it and get the CapOne also. In my opinion, you need more than one card to really establish credit, but more importantly, it's how long you keep the actual accounts open. They say 2 years is good. After that, if you really don't want a particular card, it's safe to get rid of. But to have it look good on your credit reports and to the creditors, don't close an acct if it is less than 2 years old. =0) I'm pretty new to this credit stuff, so I'm sure others have some helpful info they can share with you. Good luck!
RE: Better having more than on By all means accept the Capital One offer. In my opinion you will need more than 2 accounts to build credit. Later on when providian finds out you have Cap One, you will get a halfway decent offer from them too. Accept it too.
RE: Better having more than on Geo wrote: ------------------------------- $99 is not a fee, It is a refundable deposit. Yes, that's right. Thanks!
RE: Better having more than on Donna wrote: They are stengy with increases Donna, I keep reading about increases, but I wonder why it's so important to increase the limit.
Thank you! I decided to go for Cap 1. If I didn't get approved by FCNB, I'd still have at least one secured credit card, and if I did get approved by FCNB, that'd be even better to establish my credit! Thank you for your help.
