Cap One CC

Capitol One simply will not stop sending me offers for their credit card. Now, I don't mind getting them but to my knowledge after they pull a credit check it'll cost me a hard inquiry and a credit refusal.

However, the last two letters stated I am guaranteed a card--not pre-approved, but guaranteed. The small print states that a preliminary look at my credit shows that I qualify for a card. It also states that my signature authorizes them to pull another credit history which may alter the original offer, although not rescind it. At least that's my take on the legal stuff.

Now, being disabled with a monthly income of $700, it is very hard for me to get anything in my own name without tacking on my hubby as a co-applicant. The form for Cap One only wants to know household income and doesn't ask about employment.

Even if they gave me a card with a minimum of $500 (their stated lowest credit line) it would be appreciated as a way for me to get my own credit card. I am directed to either sign and return the letter or go to their website and get an approval and credit limit in 60 seconds.

Of course, I've read all the bad stuff about Cap One on this and other boards. But if I just get a low credit line and pay my bills on time, maybe it will be OK?

If anyone has received such an offer from Cap One post BK discharge with similar wording, please post. Also any comments at all would be most appreciated.
Thanks in advance.

 

Remember that "Pre-Approved" doesn't mean you will actually get the card. You'll see that little disclaimer under the asterick that you passed a preliminary creditworthiness check (whatever they mean by that) and your approval will hinge on your credit report, among other things.

That's what struck me as so strange about this offer. It said that I was guaranteed a card, and what would be determined would probably be my credit limit and other details. And guess what, since I posted there was another duplicate in the mail today. Geez, are they desperate or something?

It's just that I've heard so many bad things about Cap One, or Crap One according to some people. There's even a website someone took out where people can post their complaints. So it's a real quandry for me. Either fork over $600 which I don't really have to get an American Pacific card with a $500 limit or take my chances with the Cap 1 offer. Have to do some thinking on this one. With my disability income no prime lender is going to even look at me for a long, long time. I just want a card mainly because I really have no current open accounts and am riding along on a number of good but old closed tradelines and a long (24 yr) credit history.