I have a Capital One Visa Classic which has a $2,000 limit with $600 to "secure it". This is my only credit card and the current balance is "O". I have had this card almost two years and started with a $500 limit with a $99 deposit. After maxing out and paying down this card three or four times since January I have resolved not to use it at all until Capital One FIRST, releases my security funds (as promised in our original contact nearly 2 years ago) SECOND,increases my limit and THIRD, reduces the ridiculous 19.8% interest which is what Cardinal Mazarin charged merchants during the reign of Louis IVX and which now serves as the interest rate of choice for tyrants which lord over the weak and fiscally challenged.
RE: Moratorium on my use of Ca Capital one is an excellent card to build or rebuild credit, they gave me a chance when I most needed it and First USA turned their back on me, but they are not too fond when it comes to reducing the APR, I had to close my account and go to another company once I qualified for a better deal. A.F. ------------------ Bad Credit? No Credit? Let Us Help! http://www.Creditinsiders.com
RE: Moratorium on my use of Ca I'd say you are pretty lucky. If you tried today to get an unsecured line of credit of $1400 right off the bad, could you? If you answer no, then probably should rethink your decision. Yes, maybe they didn't do exactly what the claimed they would, but don't forget they hold the key to your future credit success. Using the card and showing a solid history is the fastest way to get away from Capital One (or qualify for better their cards). Once you get those excellant offers in the mail, close Capital One for good. I'd also suggest getting another secured card now and start showing a second positive tradeline. Better yet, get two more cards.
RE: Moratorium on my use of Ca They are NEVER returning the money until you close the account and could not care less whether you do, they have 25,000,000+ card accounts. Why don't you close your Cap 1 account and apply to another company after a few months have passed?
RE: Moratorium on my use of Ca Never had any problem with Capital One. They have great customer service and it did take three years for them to unsecure the card, but they have always sent offers to increase the limit by three times the deposit, so it was easy to end up with a high limit after a couple of years. They returned the money with interest after about 2 weeks afer they unsecured it. They did lower the interest also after I called them they said no the first time. I hung up called back and got someone else who was very willing to lower it.
