THIS CARD IS WORTH A TRY
Written: Nov 02 '02
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Pros: Helps you re-establish when you've had credit problems.
Cons: Fees and interest rates tend to be on the high side.
The Bottom Line: Try Capital One they'll help you get back on track.
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| ladyp1945's Full Review: Capital One Secured Visa |
If you have had past credit problems, even bankruptcy, and you need to re-establish your credit Capital One is worth a try. They offer a couple of different options for getting a secured card and depending on what kind of credit problems you have had they may even offer you a lower limit unsecured card, usually $300.00 to start. While that's a pretty low limit if you keep up the payments for 3 months Capital One will increase the limit. They have had a lot of problems in the past with sales pitches and you will still get those if you call in. However, you can opt out of these via the automated phone line or by getting a live person in customer service and just letting them know you would rather not get all those annoying sales pitches. You can also ask them to mark your account so that none of your information goes to anyone outside of Capital One and eliminate all those telemarketing calls.
This is a business so remember that secured or unsecured there are going to be fees. The fees tend to be higher for secured cards since these are considered to be "at risk" customers. Membership fees vary but can go as high as $75.00 and the secured card is usually at or near the top on that one. If you have the card for a while and keep it in good standing, no overcharges, no late pays, etc., you can call in and ask for a reduction in membership fees etc. I won't guarantee your request will be granted but there is always a chance.
Recommended:
Yes
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Epinions.com ID:
ladyp1945
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Location: Auburn, Washington, USA
Reviews written: 3
Trusted by: 0 members
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