I chose the Capital One credit card when I needed to get a credit card quickly to pay for my work expenses. I’d managed to avoid getting a credit card when at university but was forced into getting a credit card when I started my job as my work travel company wouldn’t accept switch. And so ... Read review
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'Capital' ain't how I'd describe it!
Advantages: Ease/speed of application Disadvantages: Customer service
I chose the Capital One credit card when I needed to get a credit card quickly to pay for my work expenses. I’d managed to avoid getting a credit card when at university but was forced into getting a credit card when I started my job as my work travel company wouldn’t accept switch. And so I was faced with deciding between the hundreds of credit cards that are available. (Please ignore the two long paragraphs at the end of this review if you’re not ... ...And so I chose the Capital One card…
*Application*
Application for the card is entirely on-line. This was really handy. The decision was made there and then – I was accepted without any problems. None of the questions I was asked were too probing and the speed of decision led me to believe that they’re not too picky about who they give cards to. However, I was happy as my card arrived within the promised two weeks. One of the ... more
I chose the Capital One credit card when I needed to get a credit card quickly to pay for my work expenses. I’d managed to avoid getting a credit card when at university but was forced into getting a credit card when I started my job as my work travel company wouldn’t accept switch. And so I was faced with deciding between the hundreds of credit cards that are available. (Please ignore the two long paragraphs at the end of this review if you’re not in the mood for some serious ranting – I just had to get it off my chest!)
My priority when choosing a card was speed – I needed a card fast and wasn’t too bothered about interest charges as I was only going to be using my card for work expenses that I would be reimbursed for. I didn’t want to be burdened with any annual fees and wanted to be able to pay the balance off in full every month. And so I chose the Capital One card…
*Application* Application for the card is entirely on-line. This was really handy. The decision was made there and then – I was accepted without any problems. None of the questions I was asked were too probing and the speed of decision led me to believe that they’re not too picky about who they give cards to. However, I was happy as my card arrived within the promised two weeks. One of the questions you are asked when applying for the card is what style of card you want. There is a choice of about ten different designs to choose from (ranging from the standard silver card which I went for to some wild designs with dragons etc). I’m not aware that other credit card companies offer this kind of choice of card.
*Card Services* The card offers all the usual credit card services. The card is accepted nearly everywhere as it has the mastercard symbol on it and you are given a pin number so you can withdraw cash from an ATM if you need to (although you need to be careful with this as the interest rate charged on cash withdrawals is higher than on normal transactions). You are also provided with Capital One cheques which I presume can be used in the case where credit cards are not accepted but cheques are. Although in this day and age I imagine that this circumstance is becoming less and less frequent.
*Financials* The annual rate of interest is around 30%. This interest could really add up if you don’t pay off your balance regularly but I suppose it’s not a great deal worse than other cards that are out there. You are obliged to pay a minimum of 5% of your balance each month and interest will be charged on the remaining balance. This is in line with most other cards. I understand that if you have a poor credit history then you must pay 10% of your balance each month. This seems like a good idea as it encourages better credit control if you’ve had problems in the past. I was given a credit limit of £3,000 and this limit hasn’t increased over the couple of years that I’ve had the card. It’s great that they don’t automatically increase your credit limit because, in my opinion, it’s morally reprehensible to do so.
*Mail* Capital One send out a statement every month. The statement is really clear and has all the usual detail on it i.e. amount spent during month, payments made, interest charges and any penalties. However, this isn’t the only literature that Capital One sends to its customers. At least three times a month they send me either a loan offer or another cheque book. All this despite the fact that I’ve never once requested a loan or used one of their poxy cheques. Extra mail doesn’t bother me too much but what does bother me is that their mail has my card number splashed all over it. All it would take for someone to get access to my card details is for one of these many missives to get lost in the post.
*Customer Service* Now, this is where my issues with Capital One really begin – please prepare yourself for a long rant! I’ve had two occasions on which I’ve had to contact Capital One and each time I’ve been left feeling frustrated to put it mildly!
The first of these occasions was when my card expired two years after I obtained it. As the end of January approached I noticed that my card was about to expire and that I hadn’t received a replacement one, which I understood was supposed to happen automatically. About two weeks before the expiry date I called the company to find out why I hadn’t received a new card. I called the number (finally got a response after about five minutes on hold, at premium rate) and was told that I had been approved to receive a replacement card and that it would be with me by the end of the month. I was told to ring back later if I had still not received my card. About a week before the expiry date I rang back (another five minutes on hold) because I knew that if my card hadn’t been sent out it would take at least a week to arrive. At this point I expected that I would receive an apology for my card not arriving, an assurance that it would immediately be cancelled and a promise that my new card would be sent immediately. However, this was not to be the case! I was told that it definitely would arrive by the end of the month and they refused to cancel the one they claimed to have already sent and issue a new one. Surprise, surprise the new card did not arrive by the end of the month! I’m not blaming Capital One for my card not arriving – maybe Royal Mail didn’t mis-delivered it or it was nicked by one of my less honest neighbours – but what I am blaming them for is leaving me for two weeks without a card. I fail to understand why they couldn’t have cancelled the card they claimed to have sent originally and sent me a new one when I told them it hadn’t arrived. I had to pay for a flight for work during this period and had to ask a colleague to pay because I didn’t have a card – most frustrating! OK, rant number one is over.
Rant number two is on a related topic. When Capital One finally cancelled the card they had sent but didn’t arrive they also cancelled my bank mandate. Fair enough, I hear you say. However, what they didn’t do is to renew the bank mandate when they reissued my card. This meant that they didn’t take February’s payment from my account and charged me a £12 penalty because they had been unable to take the money from my account. When I phoned up to complain the boy on the phone could barely speak English and kept insisting that I had charged because there was not enough money in my account, which I knew not to be the case. After about ten minutes of arguing with him he finally agreed that, as a goodwill gesture, the £12 would be refunded. Still, however, he did not admit that it was the company’s fault! Then, to my horror, about a week later I received a patronising letter from the company giving me advice on how to keep up with my payments and informing me that if I failed to make payment again there would be no further goodwill gestures! I was absolutely fuming! End of rant number two.
I was tempted to end my relationship with Capital One after these events but on the whole, the company hasn’t given me too much reason to complain and it’s too much hassle to go about applying for a new card. Assuming that I don’t have any similar issues in the future I won’t be looking for a new credit card and would recommend this card to others as it’s really easy to apply for and very quick too.
...card? You probably can with Capital One!
'Aha!' I hear you cry. 'There are other companies that provide credit cards for people with difficult credit histories, so what makes Capital One so special?'
1) An easy application process: You can log on to Capital Ones website and complete the application online in a matter of minutes. At the end you get an immediate decision. The form is easy to fill in, you are guided every step of the way and best ... ...The good news is that Capital One gives you a choice of modern trendy designs to choose from. So even though you haven't got a gold or platinum card you still get a product that is equally impressive and personal to your tastes. For example, I went for a card with a dragon, as I like mystical things and my wife chose a tiger as she loves wildlife.
3) Rewards for good behaviour: Certain other credit card companies will give you a card if you have ...
dave84822 21.05.2006
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Ciao members have rated this review on average: very helpful Review of Capital One Classic Mastercard
Advantages: They will accept you if you have a poor credit rating Disadvantages: High interest rates, no features
...sparkling credit rating then a Capital One Classic Card may be for you. There are actually 2 options you can get - The Classic reviewed here or The Platinum which is for people with good credit records. You can apply online or in one of the many leaflets they drop into magazines these days. Applying online is relatively painless. It only took me 3 minutes to complete the form although at the end of my application the site hung and I wasn't sure that ... ...lightning strike and a plain Capital One version.
The Classic (which I have) doesn't give you any introductory rate of 0% for purchases or balance transfers. You immediately have the full interest rate of 34.94%. The interest free period is a maximum of 54 days for purchases where the balance is paid in full every month. 0 days for balance transfers and cash. The minimum repayment is £5 or 5% of the outstanding balance. None of these rate are what ...
ultras67 02.12.2006
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Ciao members have rated this review on average: very helpful Review of Capital One Classic Mastercard
Advantages: £4 in my pocket for every £100 I spend Disadvantages: Need to make sure you don't overspend
...I applied for my Capital One Mastercard through the Mutual points website (a few points into my account there). This was a simple painless quick process. I needed my bank details to do this so its worth having them ready if you want to apply for a card on line.
In a few days I recieved paperwork to sign and shortly afterwards my card and pin number arrived in seperate envelopes and I was ready to head off spending. As I have been doing a lot of ... ...travel insurance
Details copied from Capital One website:
Travel insurance policy for an unlimited number of private or business trips abroad, each trip being a maximum of 60 consecutive days, starting and ending in the Country of residence. Cover will only be active if at least 75% of the total cost of the transport and/or accommodation has been paid with the World Card.
Reading through the policy it seems to be comparable with most standard ...
baeswoman 23.10.2007
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Ciao members have rated this review on average: very helpful Review of Capital One Classic Mastercard
Advantages: Good for bad credit Disadvantages: High interest rate
...brill - this is where Capital One came to the rescue.
The hubby has no problem getting credit - but as for me - well they see me coming and run a mile - except for Capital One that is.
They do a card especially for those with a duff credit history and they very kindly gave me a card all in my own name.
Just on a side note did you know that how you handle your credit and pay your bills affects more than just your ability to get credit.
Apparently ... ...ones to choose from.
Capital One will allocate you a credit limit between £200 and £2,500 Monthly payments are a minimum of 5% of your outstanding balance or £5 which ever is higher - e.g. if you have £1000 outstanding you will have a monthly repayment of £50.
###HOW TO PAY###
Capital One gives you a number of ways to pay your monthly bill.
TELEPHONE BANKING Just contact your bank by telephone and give them the relevant details about your Capital ...
freaklikeme 01.06.2004 (02.06.2004)
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Ciao members have rated this review on average: very helpful Review of Capital One Classic Mastercard
Capital One…….Be Careful To Pay On Time.. I have a credit card with Capital One and when I clear it I will cut the card up and throw the pieces in the air. I will explain! I took the card out about two years ago. The leaflet dropped through my letterbox telling me how wonderful it would be to have a Capital One card in my pocket, how cool and great this card would make me. So me being a fool at the instant offer of a bit of money applied ... ...I have to say that Capital One are not to fussy who they give credit cards to as most of my family have been offered one over the last year. And the fact that they gave me one right away proved that they give one to anyone!! So card in my hand, being a bit skint and Christmas coming I am tempted to spend a bit of this money that isn’t mine. So you see I do spend money, I just don’t spend my own. And you got it in one, I spent the whole ...
art1954 22.09.2001
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Ciao members have rated this review on average: very helpful Review of Capital One Classic Mastercard
Competitiveness of APR
Product package
Quality of Customer Ser...
Reward Scheme
Additional Charges
Security and Privacy
Ease of Application
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