I didn't really get an answer for my earlier post... Is Capital One any good? I am waiting on my Providian Gold to come in the mail, but I have a secured card offer from Cap 1 ($200 limit for $199 deposit). I don't have any other cards, so I was wondering if I should jump on it or not?
I really don't like Capital One. It is hard to get the card unsecured and regular line increases. They pull a CR each time you request a line increase or to have the card unsecured. I would go with Providian!
Expect to not get a lot of line increases. One per 6 months MAX. After a year, you'll probably be at $1000. Their customer service is TOP NOTCH. Their online site, works excellent. (Better or just as good as Aria/providians). Their card looks like a normal capitalone card, so nobody knows its a secured!! Thats really the best part. People respect capital one. They offer cards from $200 secured to $100,000. Simple $39 (?) annual fee. no membership or BS fees. No application fee. etc. I recommend them greatly, then probably aria second. (If the aria card was just not yellow and orange. Maybe its just a male thing.)
I'd Pass I would pass. I think Providian will be more generious with increases. Also Nextcard might give you a chance. They don't have that subprime stigma.
Cap1 is basically giving you a limit for your deposit. If that's the case, then you might want to think about another secured card with a better bank like Citibank. $300 and your in there. 18 months later and you have an unsecured card (with perfect pay history). Keep in mind that they do not report until after 18 month in which they will report the whole account history. They will not increase your limit during that 18 month period either. But still.....you know the card will turn unsecured but who knows how long it will take Cap1.
Lets hope the postage isn't more than $1.00 COD for delivery. I have to say, Cap One is cheap about their increases but my rate is 13.9% with $2300 limit and I expect an increase because of my payment record for about 2 yrs. They offered to unsecure my card - my deposit was $240 for the whole $2300 limit. Initially, I think they offered me this silver card for $1000 with $99 deposit. They report fine, and did help me with emergency credit when in a hurricane in Florida. But, call em, tell them you want the card - but you know people who got $500-$1000 for a $99 deposit. You WOULD take the Card if they made that sort of upgrade offer. Otherwise, trash that deal! Dogman
You can't dis capitalone for the $49 for $500 when nobody else wanted to grant credit. I'm not sure why you got $199 for $200, that does stink, but many people should be happy that they can call up , with no credit whatsoever, and get a $500 decent-looking, good customer service card in 3 weeks flat without any guessing for that $49 or $99 (ok some get $99 for $500 too i've seen it go both ways). Since they were the first place to say yes, to me, after many denials, i'll be their friend. OH i do hate how their computers always make them pitch garbage offers to me every time i call for customer service. i reply "Will it raise my credit line, if so i'll take it " shuts them up real quick.
Not too sure if they pull a CR each time as the last time I called the recording asked if I was calling for an increase push 2, a few seconds later I had 500 added to my credit line, never spoke to anyone. Tried it a few months ago and it said not eligible at this time. This past time it went right thru. Never saw it show up on a hard inquiry
