Good credit rebuilder (Capital One)

Member Name: n1cknick

Product:	Capital One
Date:	24/06/09 (208 review reads)
Rating:

Advantages: You can choose a card design

Disadvantages: Very high interest rate on purchases

I applied for a Capital One card as one of my first ever credit cards. As long as you are over 18, resident in the UK and have not been bankrupt you are pretty much guaranteed to be approved for one of their standard cards.

Many people use it as a credit building card if they have previously had bad credit as most people receive a low limit initially and this increases as you meet the payments required and as your credit score improves.

I applied online for this card and chose the standard card as you could have a print of an animal on the card which i thought was different so i went for the tiger.

The process was quick and simple and i received my card within about two working days and started using it immediately. My initial credit limit was £200 but it wasn't long before this was increased significantly but this is probably because i cleared the balance with every payment.

The interest rate is high (29.9%) so i only recommend this card if you intend to pay of the whole of the balance each time otherwise you will pay some serious amounts of interest!

Summary: Good for anyone with bad credit