I just got a offer in the mail for a capital one card.... the limit made me laugh..but I'm thinking it will help me with my credit.... Does anyone know anything about capital one?? I don't. Cinder
if the limit made you laugh, then don't bother. You probably have good credit, and deserve a higher limit card. Cap 1 is mostly subprime, and the card you will get will most likely be suprime, and intended for subprime individuals (hence the low limits, high apr, and yearly fees). Otherwise, its an excellent company, to work with. I've had 3 of their cards, now have two.
You'll laugh even more when you look at your credit report if you accept it. Capital One does not report your true credit limit, but instead uses the current balance. Any scoring system will think you're using 100% of the limit, reducing your FICO!
Well I don't have good credit...so maybe I should accept the offer.....but the limit is sooooooo low..... CInder
The low limit can be a problem, but the company did once offer me what no other creditor has offered. They let me borrow $21,000 on a $5000 limit card, to consolidate other debt. www.creditsense.com
if your credit is bad, its an excellent company. You can finagle at least $500 out of the gold card by complaining. It takes time and good behaviour to re-earn the higher limits plain an simple.
