Discussion in 'Credit Talk' started by Fender, Jan 24, 2001.

  1. Fender

    Fender Guest

    I have no credit at all and have received a letter from Capital One, and it says that I've been approved for a limit of $200. (I have to send them funds of $99) Should I get this card to establish credit? I've read lots of posts about this company, and many of them are pretty negative.

    Also I wonder what everyone thinks about Providian Visa Gold. I also received this pre-approval letter from them. The interest is 23.99%, the grace period is 25 days, one time fee is $49 and annual fee is $59.
  2. jamie

    jamie Well-Known Member

    Both are probably your best bet for establishing credit. Cap 1 is pretty singy with increases. 6 months with no lates (not even 1 day) or over limits will get you a small increase. Providian gives larger increases with good pay record. I've never had any problem with either. A pre-approval is not a sure thing. Can you apply on-line? You may get an instant approval. Also stay away from First Premier Bank. You'll pay $200 in fees for $250 in credit. Good luck
  3. sam

    sam Well-Known Member

    Aria - $49 fee, $59/yearly fee immediately due = $250 line

    Cap 1 $99 deposit (returned after 1 year of good history) $200 limit, $39 annual fee billed immediately.

    The ARIA card is ugly, and providian advertises these on TV so everyone knows whats up when you use it.

    The cap 1 of course has 25 day grace, 19.8% interest. Great for establishing credit and not paying thru the nose in interest.

    Aria will give you higher increases. But its still a providian card :)

    I'd say get both if you can afford it
  4. Geo

    Geo Well-Known Member

    Both are good for establish credit but I rather CapOne than providian
  5. Fender

    Fender Guest

    How about FCNB?
  6. S.D.

    S.D. Guest

    I've had the Providian Gold card (think it was "guaranteed approval") since 11/00, and haven't really had a problem with them. I got them to reduce me from 23.99 down to 21.99 after the first month, but I don't have a grace period. You can really negotiate w/ Providian after you've had their card for about 3-6 months.

    I also have the Aria Persona since 12/00... not the best rates, but I'm just waiting for it to hit the 3-4 month mark so I can call to try and negotiate (and actually get results). Again, since this card is issued through Providian, they are suppose to be generous w/ increases.

    I am still waiting for my CapOne secured ($200 for $99)... I have heard that this card is a good start for those who are trying to (re) establish their credit. Heard that after a year w/ the secured, you can reapply for an unsecured CapOne card and usually get approved~ someone pls correct me if I'm wrong...

    Anyway, good luck! I do recommend the two companies that you asked about.
    Keep us posted!
  7. S.D.

    S.D. Guest


    Heard they are also good. Only offer secured VI/MC, but give you up to 300% of your deposit, depending on your credit... They also issue Eddie Bauer and Speigel. Don't have the card myself, but heard nothing but good things about them.

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