My friend got a pre-approved for Cap one New Visa Platinum today.The terms are;credit line up to $5,000 , 0% introdutory APR on all purchases until Dec.2001,no annual fee if account in good standing,but after Dec.2001 the APR will be 23.9% (prime rate +14.4 %) ! My friend has very good credit and her FICO score is 795.I always thought Cap One Platinum has min $5,000 credit line and 9.9 Fixed APR.This offer must be their new product.
Cap1 is the easiest about decreasing the APRs. While she has the 0%, have her occasionally call in about her "drop rate". I've already gotten my decreased from 19.8 to 13.9 and I'm still in my 0%. They typically dropped my rate 2-3 points at a time... and would do it again 3 months later or so. The reps actually told me to call every month just to see if any of my accounts had any specials. And again, dropping the interest rate is offered easily by Cap1. Just tell them at each point you're getting 9.9 offers... Make sure it's fixed interest. I think that's all they've given me, but my other cards are notorious for dropping the rate but making it variable.
There is a CapOne Platinum with 9.9 fixed on their website. I would think a 795 would be good enough. If not, it will take me years to get one Also, CC companies send out these "preapproved" offers all the time, and the offers can change frequently.
