a great way to rebuild a poor credit file (Capital One)

Member Name: louloupot

Product:	Capital One
Date:	05/07/08 (587 review reads)
Rating:

Advantages: increase on fourth statement

Disadvantages: lack of further increases

Capital One classic visa card

Application process

I applied online for my capital one card the process took about five minutes to complete at the time they were unable to give me an instant decision and said I would hear with 7-14 days of the outcome.
I received a letter about a week later to say that I had been excepted and that I needed to send them proof of my address and id, which I did after that it took about 10 days to receive my credit agreement in the post which I had to send back about another week later I received my new card and pin so I could activate my card by phone and use it.
The whole process took about a month.

Card design

The nice thing about this card is that you can choose a design either plain a pig a dog a monkey are just a few.

Credit limit

My credit started off at £200 and rose to £500 on the fourth statement since then I have received no further increases even though my payment has always reached them on time.
They do not take limit increases on request so you have to wait for your account to be reviewed.

Payments

Every 28 days I receive a statement by post (you can also go paper free and view your statement online)
You can choose to pay the full or minimum payment via direct debit or pay via debit card on the phone or online.

Interest rates

The interest is quite high at 34% but the card is designed for those that need to rebuild a poor rating which it is good for.

Overall

A great service and easy to use the only downside is the long application times and the lack of credit increases.
My rating is 8/10

Summary: a nicely designed easy to use card