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Capital one no way I am not getting sucked into this one. - Capital One Credit Card
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Capital one no way I am not getting sucked into this one. (Capital One)

Caveman2437

Member Name: Caveman2437

Product:

Capital One
Date: 12/04/07 (786 review reads)
Rating:

Advantages: quick and very easy to get accepted, a nice choice of cards.

Disadvantages: charges are way over the top. they are not interested in your financial flaws. only your wallet.

I would Like to thank all of you for your comments about Capital one Credit card, after reading them I have decided to rip up my (accepted) application that only required my signature, credit limit upto 2,500 with an upfront fee of £257.78p (there not saying it's upfront) but the are saying it is charge for credit. ie:

Total charge for credit:
At the time the agreement is made, is £257.78
Comprising interest in the sum of: £257.78
this may also include a 3% handling charge.

I can imagine you poor people with a Capital one card. I wish you all Luck. bye bye. capital one there is only one word for them, and am not going to say it here.

Summary: Look before you leap into the cement.
Last members to rate this review:
(5 members total)
cmh4135%2FIainWear%2FNewYork2006%2FTeena2003%2FCoxy1974%2F

View all 5 member ratings

Overall rating: Somewhat useful

Last comments:
banje

- 18/12/07

Errr Caveman you really should read the full terms and conditions!!!
I bring your attention to section 11 - (briefly) they are required by law to assume a credit limit of £1500, full balance paid off over 12 months in equal installments, thus giving a charge for credit of £257.78.
That is why they urge you to read the full terms and conditions.
By the way, I do not work for Capital One - I am just able to read!
Teena2003

- 12/04/07

You have written nothing about the actual credit card, how can you review something you do not own? You have no experience with it. How do you arrive at the fees you describe? Granted, Capital One have a high APR but if you pay off your bill all the time and use it for emergencies then you don't pay. Credit limit of £2500 is possible but you have to be with them for ages. Most people have a bad credit history and start off with a limit of £200 that will get raised slowly over time. That way you can rebuild your credit history. Credit cards are handed out too quick to too many people and you might still be better off letting this one go. There are better ones out there with lower APR.
Coxy1974

- 12/04/07

I used to work for a credit card company and when you say accepted application that had a credit limit of up to £2500 this sounds like it was a short application form. The applications are never pre-approved and can never be until a credit check is done and they are not allowed to credit check you without you giving your consent up front. The fact that they put pre-approved on the applications when they send them out is a marketing tool to entice more people to apply. You can avoid the charges by paying off the balance of the card each month back to zero but the fee of £25 is an annual fee for having the card. All companies offer different types of credit cards and depending upon risk they will offer different terms to different types of customers so this sounds like it's not one of their cheapest deals. Sounds like you did the sensible thing in shredding this app.


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