... Make your own decisions!
Having checked extensively on Capital One's website, I can't see that they do two Circle Mastercards - and the one I've got - Circle Rebate - offers 1% cashback on all purchase transactions. I'm a reasonably high earner and have a good credit record, and nearly ... Read review
Advantages: 0.5 percent cashback on all purchase transactions Disadvantages: far less competitive than it used to be
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Having checked extensively on Capital One's website, I can't see that they do two Circle Mastercards - and the one I've got - Circle Rebate - offers 1% cashback on all purchase transactions. I'm a reasonably high earner and have a good credit record, and nearly always pay off my card bills in full at the end of the month. I decided last year to look for a cashback card which I could use for everyday purchases in place of my debit card, and got ... ...so when I found that Capital One did a Mastercard with the same basic deal I was interested.
The interest rate isn't competitive - but I don't pay interest due to paying off the balance. The credit limit I received was perfectly adequate - but Capital One don't advertise this as a 'first time' card or for those with below average credit scores - the whole point of this card to me is the cashback scheme. By the time my wife and I have ... more
Update August 2004: from the end of this month, the cashback rate is being reduced to 0.5%. This makes cards such as Mint and CreateCard (both at up to 0.8%) much more competetive. Amex Blue is still at 1%, and the new Amex Platinum credit card (now you can apply for it rather than wait to be offered it, as the other benefits have largely disappeared) doe 0/5% to £2000 pa, then 2$% on all purchases above this. Make your own decisions!
Having checked extensively on Capital One's website, I can't see that they do two Circle Mastercards - and the one I've got - Circle Rebate - offers 1% cashback on all purchase transactions. I'm a reasonably high earner and have a good credit record, and nearly always pay off my card bills in full at the end of the month. I decided last year to look for a cashback card which I could use for everyday purchases in place of my debit card, and got an AMEX Blue card - which also offers 1% cashback.
The only problem was that quite a lot of UK retailers don't take AMEX due to the higher charges incurred, so when I found that Capital One did a Mastercard with the same basic deal I was interested.
The interest rate isn't competitive - but I don't pay interest due to paying off the balance. The credit limit I received was perfectly adequate - but Capital One don't advertise this as a 'first time' card or for those with below average credit scores - the whole point of this card to me is the cashback scheme. By the time my wife and I have paid £1400 each for rail season tickets, done the weekly shopping, paid for petrol and a holiday, we're looking (conservatively) at £100 cash - not points - credited back to the account at the end of the year - not a bad night out, you'll agree.
How does it work, then. I do all my banking on the internet, and their website, two months in, is fine - quick, accurate and up-to-date. That of AMEX in comparison is slow, clunky, confusing and unreliable. I've only used their telephone customer service line once - and that was fine and dandy.
The application process was without fault - again over the internet - and I honestly can say I have no cause for criticism at this (early) stage. Perhaps I'm unusual in that I don't often have cause to speak to a human being in my financial transactions (I'm polishing my anorak as I write) - and perhaps this is the great weakness of many call centre-driven institutions - their staff.
In summary, then - so far, no problems, excellent cashback scheme on all transactions (rather than the tiered rates many other cards offer), widely-accepted when compared with AMEX blue, functional website which works. Recommended if you pay your balance off in full each month and put as many of the household expenses on it as possible.
Update - 21/12/03
Another member usefully suggested that I might update this review - which I'm happy to do. In the year I've had the card (and my wife as a second cardholder) I've had no problems at all. I've had cause to call their customer service line only once since the op was written, and the call was handled curteously and efficiently. I've paid the grand total of about £2 in interest and just had a rebate (on December 16th) for a whopping £100.35.
Basically I've put as many of the household expenses through this card as possible (including two £1500 season tickets sponsored by work loans and a pretty epensive holiday). I also have an EGG credit card which I keep solely because it has the fantastic feature of allowing you to register various third-party accounts securely and will sum up all the credits and debits therein. When logging in to my acount through EGG I have never had a problem accessing my Capital One details - first time every time.
Overall, I've just got a hundred quid back for nothing (near enough), with great online sevice and no hassles at all. I'll be keeping this card and ditching the AMEX blue.
Advantages: Easy to obtain, useful automated service Disadvantages: High Interest rate, low credit limit
...£400 limit and then the Capital One Mastercard, this arrived with a very disappointing in comparison 29.9% APR and only a £200 limit. I don't have any CCJ's nor am i blacklisted.
I have used both cards and recently had my Barclaycard credit limit increase to more than double what it was when i got it last May, the Capital One card has recieved no such increase and no reduction in the APR.
I have never paid late, but should i do so there is a hefty ... ...but the services offered by Capital One are unbeatable. As well as having an online banking facility where you can pay your monthly statement, transfer balances and check your transactions there is a freephone automated service where you can do exactly the same. Most of the other providers who let you check your transactions over the phone will charge you at National rate for the privilage. From this 0800 number you can also get through to a 'human' ...
RPalmer83 28.01.2003
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Ciao members have rated this review on average: helpful Review of Capital One Bank Circle Mastercard
Advantages: Helpful, Friendly, Proactive Disadvantages: none as yet :-)
...thought I would write about Capital One as a company and the benefits I have found from being with them.
Firtsly I would like to say well done! I mean being stuck in a queue for hours on end talking to a person who speaks with the same dull tone and repeats herself continuously is not my cup of tea and sadly you get that now-a-days. We are living the automated era, where people cannot be bothered to speak to people. Instead we talk to machines who ... ...of technology I came accross Capital One whom accepted me and took me under their wing enabling my credit score to soar higher than expected and giving me peace of mind.
Capital One are a wonderful company. Everytime I telephone I get to speak to a well spoken friendly person who has more than 2 seconds to help you. They are proactive and assist you in every way possible. Whenever I have asked for anything to be done it is instantaneous.
Once I ...
leannerobotham 26.04.2004
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Ciao members have rated this review on average: helpful Review of Capital One Bank Circle Mastercard
Advantages: handy for impulse buying Disadvantages: £5 charge for over the counter payments
...seen adverts for this the Capital One Master card every where. Deciding on applying for one was easy as it would only be used in emergency! I applied and opted for the payment protection plan as well. Interest is 2.248% a month so it is a nice little earner for the Bank. My limit started at £200 but has been steadily rising since then. I did not have any CCJ when I applied.
5% of the balance has to be paid off every month on £900 that is £45. If ... ...and the services offered by Capital One are unbeatable. As well as having online banking facility at www.capitalone.co.uk where you can pay your monthly statement, transfer balances and check your transactions there is also a free phone automated service where you can do exactly the same. Most of the other providers whom let you check your transactions over the phone will charge you at the national rate for this very 'privilege'. From this 0800 952 ...
jonkelly 14.06.2006
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Ciao members have rated this review on average: helpful Review of Capital One Bank Circle Mastercard
Advantages: Nice designs, interest free period, easy to sign up Disadvantages: Fairly steep late payment charges
I signed up to this card because I myself was advertising the cards on my site. It was the first credit card i had applied for and didn't realise how difficult it could be at my age to get one. They signed me up with no problems at all and i was sent my personally designed card within a week. I had £1000 credit limit (whether this was a good thing or not i'm not sure). The first 6 months were interest free and worked out really good value. I only ... ...using the card. I pay the bill by internet banking and it is very easy, with payments being processed within a couple of days of being sent. Their internet site is easy to use with full statement information on the site. Unfortunately due to a holiday i was late on one of my payments and it was then i found out the charges for late payments but i would suspect this would be the same for all cards. Their interest rate is 1.66% for me on purchases ...
lewis7654321 28.11.2002
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Ciao members have rated this review on average: helpful Review of Capital One Bank Circle Mastercard
I first applied for a Capital One card just after my 18th birthday, as I had no credit rating and was looking to build one up.
The only company I approached who would accept me was Capital One, great, thought I, I'll use the card a couple of times and pay the bill over a period of time, thus earning a good credit score.
The card came through, I activated it and used it, but on my first statement noted that payment protection insurance had been ... ...as my parents had notified Capital One of my situation.
You can understand my displeasure then, when my next statement had a £25 late payment fee, which took me over my card limit and caused me to incur an overlimit fee also.
When I finally got out of hospital, I phoned Capital One, who were very sympathetic, but told me it was basically tough. It was only after several letters and further phone calls to various managers, that I received an apology ...
DarkDave 23.01.2003
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Ciao members have rated this review on average: helpful Review of Capital One Bank Circle Mastercard
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