EXPENSIVE BUT GREAT UPDATED (Capital One)

Member Name: jari37

Product:	Capital One
Date:	12/11/01 (281 review reads)
Rating:

Advantages: credit for all, great staff

Disadvantages: high rates

I have a Capital One card as I haven't got a great credit rating as my bank refused me, but the teller told me about Capital One. A little time searching on the web and I soon found their site. I filled in the application online it was very straightforward and two days later I received the paperwork to sign and return. One week after that my card was in my purse (not for long!!!).One quick phone call to activate the card and I was off to the shops to spend,spend,spend ( as far as my then £200 credit limit would take me).

The staff at Capital one were very helpful and didn't treat me like I was stupid (which anyone trying to get credit with a poor rating will understand). The free phone telephone help line is great they play Beatles music while you are on hold instead of the usual classical stuff designed to calm you but only drives you mad. I personally have only been put on hold for 3 or 4 minutes.

They started me off with a low credit limit so I didn't get into debt I could not afford. I was assured that my credit limit would be reviewed every six months. They telephoned me when they increased the limit to ensure I was happy with it. Which as you can imagine I was (just in time for the Christmas shopping!)
I agree the interest rates are high but if you read the paperwork before you sign it then you know what you are agreeing to.

The statements are easy to understand it is clear what rate interest you are charged and where the payments you make are repaying both borrowing and interest charges. Also the statement has details of available credit and amount available as a cash advance which is very helpful this information is also available via an automated phone line 24 hours a day.

I think Capital One offer a great starter card for people with a low credit rating and they encourage responsible banking.

Summary: