Build Credit with Capital One Platinum Credit Card

Guest: ely
Post subject: Build Credit with Capital One Platinum Credit Card
Posted: Sun Jul 23, 2006 5:26 pm

Hi I have the CapOne Plat...have had for some years (since 2002). I'm Not particularly excited about this card, as they have been very stingy with the CL, while other card companies are for more generous...but they gave me a chance when just about no one else would, so I stick with them...for now. If you are just starting out, its probably worth a try. Once you get better credit, many more options will begin to present themselves.

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Jul 23, 2006 5:40 pm

Quote:

"ely"
Hi I have the CapOne Plat...have had for some years (since 2002). I'm Not particularly excited about this card, as they have been very stingy with the CL, while other card companies are for more generous...but they gave me a chance when just about no one else would, so I stick with them...for now. If you are just starting out, its probably worth a try. Once you get better credit, many more options will begin to present themselves.

You can't ask for a CLI

So just don't use them much

Mine has had no CLI for more than 3 years

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Guest: JoyJoy
Credit Expert (100+ Posts)
Posted: Sun Jul 23, 2006 9:42 pm

I have two Capital One Platinums; one Visa and one Mastercard. (They were changed to platinum the first of this year.) I have been with Capital One since 1990. I started off with a $300.00 limit on both and now one has a $3500 limit and the other one is $1600. One of them is a Capital One No Hassle Points Card.

I have no complaints really about Cap1 as I do like to use their purchase/select checks. I use the checks because it is 0% whenever I decide to use them and pay in full by the statement date. Polonius is the one who told me about this!
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J~J

"You may never know what results come from your action. But if you do nothing, there will be no result." Mahatma Gandhi

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Guest: eastbaykitten
Posted: Mon Jul 24, 2006 2:09 am

The CapitolOne Platinum has three tiers for approval-three different levels of cards depending on your credit.

Pros: Probable approval. Bad credit, yucky terms/ good credit/ decent terms i.e. interest, whether it has an annual fee, and what you'll get for a limit.

Cons: If you're late, they'll nail you. Stingy limit increases. Doesn't report limit so you have to run your limit to a high balance for reporting to CRA's.

I liked this card because when I started out, my credit was so awful I had 2 options. Pay alot of money for a card that was not usable, or get a secured card. I started at with a $200 gold and have a platinum at $2700 now and was just offered another card. Not bad as my scores were 550 ish when I got upgraded last year. However my credit has improved alot and I now have no baddies, this card isn't growing with me any longer. Sorry if that was long winded.
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~EBK
"The mind plays tricks on you. You play tricks back! It's like you're unraveling a big cable-knit sweater that someone keeps knitting and knitting and knitting and knitting and knitting and knitting..."

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CardRatings.com is the most comprehensive source for comparing credit card offers.  Please visit CardRatings.com to view the best rated credit cards!

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