Newest Review: ... for students or those who want to start to establish their credit. They're a site that offer credits to those with starting out credit ... more
New to credit cards, not credit!
Author Name: Col
Advantages: Free credit reports, Good for building a credit rating up. Supposedly strong fraud protection
Disadvantages: High-ish APR even at its lowest point. Quite stingy credit limits.
ok so i've had credit for insurance,mobile phones etc but had problems getting a credit card because i've moved around a bit, was recently accepted by CapOne for their Progress card. All-be-it a poxy £300 limit its good to see that theres now ways for us to get a foot on the ladder again. Yes their call centres are foreign and very scripted but in their defense,many credit cards and utilities are these days. Also to those that are slagging them off for treating you "poorly" when you have missed two or three consecutive payments, i work in debt reecovery and im sorry but you're going to have to go through the exact same thing with almost any credit card company,its called defaulting a legal credit agreement!! The only difference is how the company manage and assist you throughout that process.
You would be quick to slate them for not keeping up an offer or term in the contract, but then have a moan when they do.
End of the day if you have a slightly down and out credit rating and want to build it, the Progress card is a sure-fire way of doing that as long as you manage it correctly and if possible keep the balance clear to avoid the very high APR to start and the still slightly high APR later on down the line. Plus, free equifax reports and Fraud services that are spoken pretty highly of by many professionals.
Summary: A good card for those on the first step of the rating-ladder, scripted customer service and high APR
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