Wanting to restructure my finances (well more realistically my debts :-) ) I chose to apply for a Capital One Platinum VISA card. This was in its self an interesting experience, the application is done via phone, web or through the post form. Their website was having problems with performance ... Read review
Advantages: Introductory interest rate of 0%, free travel insurance. Disadvantages: High interest rate on cash advances and transfers
...chose to apply for a Capital One Platinum VISA card. This was in its self an interesting experience, the application is done via phone, web or through the post form. Their website was having problems with performance issues, so I chose to use the phone to apply. I spoke to one of their call centre staff who took me through the usual questions: name, address, dob, employer, length of employment, etc. When all the information was passed to the person ... ...see anything obvious write to Capital One's "Appeals department" at the address on the letter head.
Knowing that I wasn't on the electorial register I wrote back with proof of identity and my address, including proof that I had been living there a number of years. Within a week, I received back my proof of identity with a compliments slip. I waited a further week and phoned Capital one, to enquire about progress of the appeal. ... more
Wanting to restructure my finances (well more realistically my debts :-) ) I chose to apply for a Capital One Platinum VISA card. This was in its self an interesting experience, the application is done via phone, web or through the post form. Their website was having problems with performance issues, so I chose to use the phone to apply. I spoke to one of their call centre staff who took me through the usual questions: name, address, dob, employer, length of employment, etc. When all the information was passed to the person on the phone there was a 30 second wait and then the reply "I'm afraid that your application hasn't been automatically accepted, we will send you a letter asking for more information in a week or so, good bye", click, and the phone went dead.
A little shocked, I waited the week or so, and received the letter stating that I had been turned down and should I wish to appeal I should contact two credit reference agencies (eqifax and Equarian?), review my file which they will send me for £2 and if I can't see anything obvious write to Capital One's "Appeals department" at the address on the letter head.
Knowing that I wasn't on the electorial register I wrote back with proof of identity and my address, including proof that I had been living there a number of years. Within a week, I received back my proof of identity with a compliments slip. I waited a further week and phoned Capital one, to enquire about progress of the appeal. I was advised that the appeal staff do not talk to members of the public and that I have to leave 1 clear month from receiving my proof of identity back before they will chase up the appeal.
So I waited, to be honest I forgot, then after two months, I called Capital One back. They looked at my application and informed me that they didn't have any record of my correspondance on their files, other than my initial rejected application. I explained that they had returned my proof of identity and they seemed bemused that they had lost my details, they could only put it down to the fact that on the original letter they sent me, the postcode was wrong. I was asked again to submit my proof of identity, this time I got an acceptance with a week.
When I got the card, it was actually a Mastercard rather than VISA, not that this bothered me, from what I understand this only causes problems in some US states where some cash machines only accept one or the other.
Activating the card was painless, the documentation that came with the card, explained the interest rates and 0% interest rate period clearly. Infact due to the delay in processing my application the 0% interest period had been extended from 6 months to 9 months.
I have been using the card for 5 months and have had no problems, so far, bills paid on time, interest charged at the right rate (where applicable).
I accept that my application was less than standard, it is worth noting that you will not get automatically accepted for any Capital One card if you aren't on the electorial register (at the address you want the card registered at), if you already have a Capital One card (they have lots of affilliate cards), or if you have been turned down by Capital One in the last 6 months. If you get turned down and you believe that you are credit worthy, it is always worth appealing with proof of identity (drivers licence, utility bills, and/or bank statements at your current address, preferably over a period of time) to prove where you live and for how long.
As I mentioned above, I originally applied for the card to help restructure my finances, the card has a 0% interest rate for the first 9 months for purchases. This means that I can funnel all purchases through there for 9 months, but the interest rate increases to 10.9% after that. Before the 9 months are up I will be looking for more competive rates for balance transfers.
All in all, Capital One, seem setup to deal with bulk processing of the average person, if your circumstances deviate from this you need to be persistant.
Advantages: Interest Rate, No Fraud Liability, Choice of Statement Dates Disadvantages: Minimum payment of 3%
...door I came across the Capital One Platinum card. One which apparently has a very low interest rate that stays low permanently. I had my doubts to begin with but if that was the case as that sounded like too great an offer. It was at that point I decided to have a look on their website rather than just go ahead and apply as this would give me definite information.
This clarified for me that it was 0% for the first 6 months on purchases and 3.9% ... ...Throughout the application process Capital One was very helpful, they would call to confirm details and send letters informing you of what is happening at every step of the way. Not always you get such good service from credit card companies is it!
Once the card arrived, which was via secure delivery with a courier and not just in the post like some cards arrived. The courier would have to see I.D before he would be allowed to give me the card and ...
Andy0304 15.09.2004
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Ciao members have rated this review on average: very helpful Review of Capital One Platinum
Advantages: 0% on purchases for 6 months Disadvantages: Hmph - they have raised their standard rate to 15.9%APR at a time when interest rates are falling, 0% on purchases for 6 months, Average balance transfer rate
...I have often seen the Capital One Platinum Card advertised, but being the lazy sort, can't be doing with written application forms, gave it a wide berth, until I stumbled across an on-line application - (God these are dangerous) with an instant decision.
THE APPLICATION PROCESS
This was straight forward requiring the standard information such as name, address for the last three years, employer details, time with employer, my income, household income, ... ...any credit card issued by Capital One you will not be allowed another. And if you close an account in favour of another one of their cards, there is no guarantee you will get it, whatever happened to customer loyalty and relationship marketing?
INTEREST RATES & BALANCE TRANSFERS
This company are joining the bandwagon of 0% interest on purchases for the first six months, absolutely fatal, as the temptation can be to spend, spend, spend, well if ...
sue.51 18.08.2001 (23.08.2003)
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Ciao members have rated this review on average: very helpful Review of Capital One Platinum
Advantages: Great Credit Limits Disadvantages: Don't Forget to pay the bill!
...in shining armour -literally-, the Capital One Platinum card. Now usually I am the first to roll my eyes at junk mail, open it just because I like getting mail, and then put on the pile of junk that I keep meaning to throw out/look at again, but never do. But, when I am pre-approved for a great limit, don't have to pay interest until August when I sign up in April and get free insurance; how can I not look again!
So, off I went, filling out the ... ...salary to my bills to my preference about toilet cleaning brands (well maybe not that far but you get the picture).
Now I don't know much about interest rates, I just figure they go along with owning a credit card, but apparently 18.9% on cash advance is decent and the .05% a day on purchases is quite good as well. To tell the truth, I am actually quite good about paying off my bills so it doesn't come into play with me, but for those who have weaknesses, ...
NoLogoGirl 27.06.2002
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Ciao members have rated this review on average: very helpful Review of Capital One Platinum
Advantages: Low APR, 0% offer, cash back Disadvantages: May use high hand tactics to increase their profits
Capital one is the largest credit card issuer in the USA and is actively pursuing the UK market. One thing alarming according to BBC watchdog is that they are not a member of any UK Banking society and hence is not obliged to comply with any of these code of practise.
During application, the information they collect for credit rating is not as complete as some other provides and hence may not actually reflect one's circumstances - which is unfair. ... ...card offers which charged an staggering interest rate of 20-30%. Also, in such circumstances, their customer service department is less than interested to let you present other evidence to support your credit status.
Nevertheless, they are one of the few provider that offers cash back and low APR and a 0% introductory rate. However, as being complained on BBC watchdog, some customers have been receiving the statements later and later so that they ...
casper77 28.03.2001
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Ciao members have rated this review on average: very helpful Review of Capital One Platinum
Advantages: 0% for first 6 months, also sensible credit limits. Disadvantages: The 6 months has to end sometime :-)
...feelings in this area about Capital One. I've had no problems with the Capital One Platinum Card.
They appealed to me to start with because of the 0% interest for the first six months, also because of the low rate on balance transfers. In fact, they offered me a free CD player walkman thing if I transferred over £1000 onto the card along with the application form. I promptly received my credit card, telephoned the 0800 number to activate it and ... ...I'm very happy with my Capital One card. They don't send much junk mail or leaflets out with the statements (another small feature I like!) and even if I did end up paying interest after the 0% period ends, it's fairly regular just like all the others so no great problem.
I've also never had to contact the customer service, which I think is a good thing. Fair enough, it means I've never found out what they're like when I'm not happy with something, ...
Andrew.Self 28.09.2001
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Ciao members have rated this review on average: very helpful Review of Capital One Platinum
Competitiveness of APR
Product package
Quality of Customer Ser...
Reward Scheme
Additional Charges
Security and Privacy
Ease of Application
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Advantages: it's a credit card primarily for those people that can't get one elsewhere Disadvantages: £18 annual fee and 29.9% interest rate
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Advantages: it's a credit card which lets you get back on the 'staight and narrow' Disadvantages: expensive, high interest rates, big fees
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inside, many people wish it was them! Especially when the checkout person is extremely polite to them and then glares at you with your handful of copper.
The good news is that CapitalOne 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 a poor credit history. They advertise that they will start you on a low credit amount and you can work your way up to a higher amout if you make your payments on time and don't go over your limit.
I have had other cards but the only company ...
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