...
Having not had a credit card for a while, we took a friends recommendation on a credit card, seeing as balance transfers and 0% rates weren't going to be applicable to us, we decided to apply to Capital One as they were offering 0% on balances & 0% on purchases both running until November ... Read review
Advantages: It's a MasterCard, Quick Turnaround Disadvantages: Variable APR, Add on Extras YOU Don't Ask For
...we decided to apply to Capital One as they were offering 0% on balances & 0% on purchases both running until November 2008, so, as you can see, we went with completely the opposite to what we needed. The APR after the terms is a 'typical' 15.9%, I'll come on to this 'typical' rate later....
Capital One offer several types of card aside from this one, mostly MasterCard's, but they do offer a 'repair your credit history' Visa card, with ... ...my decision, a YES from Capital One. It then advised I would receive a credit agreement in the post and then my card in a further 7-10 days. Excellent.
Within 3 days, the agreement came and this is where I noticed that things weren't quite all they seemed.
For a start, I didn't want purchase protection at 79p per £100, the box I had been careful to say I didn't want it online, had been ticked by Capital One and so had ... more
Recently, my husband and I have had need for a credit card, not because we tend to spend on it, but because we hadn't had one for a long time, a couple of years maybe.
Having not had a credit card for a while, we took a friends recommendation on a credit card, seeing as balance transfers and 0% rates weren't going to be applicable to us, we decided to apply to Capital One as they were offering 0% on balances & 0% on purchases both running until November 2008, so, as you can see, we went with completely the opposite to what we needed. The APR after the terms is a 'typical' 15.9%, I'll come on to this 'typical' rate later....
Capital One offer several types of card aside from this one, mostly MasterCard's, but they do offer a 'repair your credit history' Visa card, with a typical APR of a whopping 39.9%.
The platinum card-0% Transfer & Purchases until 01/11/08, typical APR 9.9% A Balance Transfer Card- 0% until 01/08/2008, typical APR 15.9% The 'Capital One MasterCard' 0% Balance Transfer & Purchases until 01/11/08 typical APR 15.9% The Platinum Cashback Card 0% on Transfers & Purchases until 01/11/08 +1% cashback on all purchases, typical APR 15.9% Classic Visa Card- No perks, just an APR of 39.9%
Balance transfers rates range from 1.7%-3%, depending on the card type.
We applied online and it was fairly simple, we had to tick boxes before proceeding to the application that were:
I have a good credit rating I don't have any previous credit defaults (CCJs) I have a bank account registered to my current address
I agreed with all of these, and proceeded on to the normal, name, address, income, employer and do you want purchase protection & card insurance questions? There was also a choice of card designs available, Tigers, Pigs, Dogs, Cats, we opted for the Tiger.
The application was very easy, maybe a bit too easy, but within 5 minutes I was done and had my decision, a YES from Capital One. It then advised I would receive a credit agreement in the post and then my card in a further 7-10 days. Excellent.
Within 3 days, the agreement came and this is where I noticed that things weren't quite all they seemed.
For a start, I didn't want purchase protection at 79p per £100, the box I had been careful to say I didn't want it online, had been ticked by Capital One and so had the £18 annual card protection policy. I crossed them out in pen and wrote not required on the agreement. Then I noticed that the 'typical' APR wasn't the 15.9% promised rate, it was actually 18.9% and a close look at the wording said they can change the offered rate at any time. In any case, this isn't something I was worried about, it was our intention to generally pay off the balance in full every month after the 0% term; we simply wanted this for security purposes and for using abroad. Having talked with hubby about it, we decided to go ahead with the application and popped it back in the post with the freepost envelope, marked 'Priority Handling' on the front.
Returning home, after posting the letter, we waited for our card and PIN.
Our PINS came first, the next day our cards came, within 7 days of posting the completed agreement back to Capital One; we both felt that this was an acceptable amount of time to have waited.
Our credit limits were clearly marked on our card letters, we had £2000 available to spend, a limit which was more than adequate for our needs.
As the primary card holder, I had to call to activate the cards. The number is an 0845 number, a pet hate of mine and I ended up tapping in numbers left right and centre before speaking to Jeffery, who didn't sound much like a Jeffrey and who also sounded like their contact centre wasn't in the UK. Nevertheless, Jeffrey was extremely efficient and courteous for most of the call. I say most because after going through everything he needed to go through with me, he asked me questions about my employment, my age etc, and then he asked me to get a pen, I enquired as to why and he said it was to give me my purchase protection payment policy number, something which I had never agreed to, something twice I had declined and something I now felt I was being 'tricked' into. However, I did make it clear that I did not require the policy and he said it was fine but did warn me that I would be responsible for the repayments if I fell ill or lost my job. Then, another small issue arose; I had to use the card within 7 days. As I hadn't planned to, this was annoying and I asked why, he suggest that on my 4th statement, I would be given a credit limit increase if I did, also they 'needed to verify I was using the card properly', hmmm, I'm not sure of that one. Jeffrey did go into what dates my statements would come out (17th) and when payment was required (by the 5th of the next month), which I then marked in my diary.
I went back on the Capital One website and noticed that there was an online facility for monitoring and viewing your account, which I signed up for and was in action within about 10 minutes.
I also made a small purchase of £15 that day.
Within 4 days my purchases was credited off my card and I called to pay it off, straightaway, as there are no online card payment facilities, only online banking, Direct Debit, Phone or Post. I got through very quickly but I found I was unable to pay due to the fact it hadn't been credited off my card at their end, despite it showing on my online account. I had to wait until my statement came, a good 17 days later, before I was able to pay. Now, I know I had 0% on purchases, but I don't like having things outstanding for too long.
Another shock also hit me when I got my statement, an £18 purchase for Card Protection, again something I declined more than once. A swift call to Capital One failed to resolve the situation and I had to wait for a letter from the card Protection Company, before I could cancel, then get my refund. Capital One had no intention of sorting this out, even though I feel it was Capital One who instigated the Card Protection in the first place.
I did complain, by letter, and got a £12 credit to my bill but no apology, just blame that I should have made it clearer on my application I didn't want the policy. I'm not sure HOW much more clear I could have made it, but I was satisfied with the response and I did get a refund and £12 refund from Capital One, so I came out with a profit in the end, but I have been left deeply uneasy about Capital One since.
I've now had my card 3 months and although it is handy to have a card that can be utilised for emergencies and for the added protection a credit card can offer you, I feel that maybe this isn't the best card in the world. I also don't want to change as I don't want to make too many credit searches in a short space of time, which leaves me with Capital One until November at least.
I cannot wholeheartedly recommend them, I feel the service is a little lax to say the least and bordering on the fraudulent. I had to admit though, that all the statements have been on time and accurate, so far.
Overall, yes, handy to have but next time, I would do my research and maybe use one of the price comparison sites to find a better card deal. In my opinion, there is just too much going on at Capital One that as consumers, we are not aware of.
My advice, research and weigh up if this is the right card issuer for you and be on the ball with your statements.
Thanks for reading- my review was first published on dooyoo.
www.capitalone.co.uk
Capital One Card Services P.O. Box 5283 Nottingham NG2 3YJ
Capital One Bank (Europe) plc: Registered office 350 Euston Road, London NW1 3JJ. Registered in England and Wales Company Number 3879023. VAT Registration Number 690 6861 01.
Advantages: Capital One will give a credit card to virtually anybody Disadvantages: You'll probably regret applying
...on my personal experience of Capital One which may or may not be representative of the company as a whole - you decide.
~~ Background ~~
I applied for, and obtained, a Capital One Classic credit card in January 2003 which surprised me as :-
- my credit history was chequered to say the least
- I had been turned down by a few other companies
- I had moved house 4 times in the previous 3 years
So the message seems quite clear - Capital One will ... ...looking for credit :)
Capital One boast 49million customers worldwide and operate in the UK from Nottingham which explains the accent when I call Customer Services - quite a nice accent I might add.
~~ Application criteria ~~
There are a few pre-requisites for applying for a Capital One credit card :-
- you must be over 18 years of age (21 for the Platinum card)
- you must be resident in the UK
- you must be earning £10,000 per annum minimum
...
nigeofnewbury 14.06.2005
· Read full review
Ciao members have rated this review on average: very helpful Review of Capital One
Advantages: see review Disadvantages: customer service
...up?
The Products
************
Capital one are probably best known for their credit cards as that’s what their advertising campaigns are aimed at selling. There are several different types on offer, so if you are thinking of taking out a credit card with capital one, look at each one carefully and read the terms and conditions.
1. The no hassle platinum master card
*********************************
This one offers 5.9 % APR (variable) on purchases ... ...6 months.
With all capital one credit cards you will be charged £20 for a late payment. I suggest you set up a direct debit so this does not happen! If you do end up missing a payment for some reason then it is worth speaking to an adviser to make your excuses and ask to be viewed sympathetically. I did this when I overlooked a payment and they agreed to refund the fee. Capital one offers several choices of credit card design including a fun leopard ...
anwar 07.05.2004
· Read full review
Ciao members have rated this review on average: very helpful Review of Capital One
Advantages: Helps build credit history- Online account maintenance-Good customer service Disadvantages: Very high APR
My experience with Capital One has been really good till now. I did not have a credit card and no credit score/rating in UK to assist me to fetch one. After being a secondary card holder for a while, I applied through my Bank for a Credit Card. But it was refused on the grounds that was NEVER revealed to me. Eventhough I tried to get in touch with the credit agencies to know the reason...but I was not convinced with their explanations. In the mean ... ...one. There are three cards CAPITAL ONE, AQUA & VANQUIS that I came across .
I applied with capitalone and auqa. The latter was rejected. But the first one was approved. After reading some of the reviews online..one of which said that a security deposit of £200 needs to be made before one recieves the card, I was quite skeptical about it. However a call to the customer services cleared it all assuring me that there is nothing called an upfront/security ...
Sree123 10.04.2008
· Read full review
Ciao members have rated this review on average: helpful Review of Capital One
Advantages: easy forms and quick descions Disadvantages: customer service
I have been with capital one now for over 2 years and this is what I think of them. To apply its incredibly simple, you can apply online and the questionnaire they'll get you to fill in takes no more then 10 minutes. I also got a response within 10 minutes of applying and woo hoo! I was accepted for the card! The forms were promptly sent to me to read and sign then send back for my card to be sent to me and again within a week my card was sent. I ... ...company to be with! At first everything was fine and my card was only used every now and again for odd bits and bobs and was always paid off. However after making a bigger purchase on it is when things started to go wrong! I recieved as always my statement and was annoyed to find my interest rate had gone up just as I'd dpenst considerably more on my card! However I decided to make more then my minimum payment and did this using the online system ...
Gems87 19.02.2009
· Read full review
Ciao members have rated this review on average: helpful Review of Capital One
Advantages: None Disadvantages: Don't value loyalty
I have had a Capital One card for over 4 years and have always paid on time, kept within all the limits....what I consider to be a good customer. I chose Capital One because I couldn't get a credit card elsewhere and thought I would build my credit rating through it, which I did. Today I decided to give their customer services a ring and see if I could change to a lower rate of interest from the extortionate 30%. I have a credit limit of £1500 which ... ...the rate you can always cut the card up'. I said that I would do that and there was no argument or referral to another staff member....nothing.
So, once you have a Capital One card, you can like it or lump it!
I'm off to get an Abbey Zero card! ...
dixterdawg 19.05.2008
· Read full review
Ciao members have rated this review on average: helpful Review of Capital One
Staff courtesy
Promptness of service
Efficiency of service
Competitiveness of char...
Similar reviews »
Reviews which might be of interest for "Capital One"
Advantages: improves your credit rating Disadvantages: high costs
apparently therein lies the problem, if you have never had any credit then the credit card companies will not entertain you it is as bad as having a poor credit rating.
That is until I discovered CapitalOne, this company specialises in supplying credit cards to those of us who have never had credit or for people with poor credit history's. I applied and was duly accepted for their card, although it comes at a price. The yearly fee is £18 and the Apr is much higher than normal credit card companies, but I suppose this is how they offset their losses when they take on dodgy customers who don't pay their bills.
The other downfall about this card is that the credit limit offer starts of quite low, apparently they range from £200 to £1000. I started of on a credit limit of £600 which after a year I was able to increase to £1000. although not ...
Advantages: Erm, I cant think of any!!! Disadvantages: Rate, Maladministration of your account, etc
Following a divorce several years ago and having got into a few problems with credit as a result I took a conscious decision to get rid of all lines of credit I had available to me. So one night I cut up all 14 of my credit cards (with a total available balance of 105,000 believe it or not) and negotiated a reduced rate with all of the card companys. Since that time I have not even tried to get anymore credit cards as I didnt think I would be able to due to bad credit, but then I saw an ad online from CapitalOne saying that anyone was guaranteed to get a card if they applied online. The way they did this was by saying that either you would have a very low credit limit or for the people with the really bad credit history you would have to send them a cheque which they would then sit on all the time your card was active and if you ...
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
This is one of those credit cards that you see advertised for people who can't get one anywhere else.
We have had several mailings come through the post from CapitalOne, for both of my sons who had rather shot themselves in the foot with injudicious use (to put it mildly) of their first credit cards. Fine so they were both 18, had a bit of money to spend, but they both looked upon the credit limits given to them by their Miidland Bank mastercard as a 'bonus'. They forgot that once they'd used it - they had to pay it back.
One of them has since had a loan turned down by his bank - not because he is in really dire financial strats, but because he ran his c/c up to its limit within 2 weeks of getting it and there it has stayed.
CapitalOne offer two cards - the Platinum (which is not the one we are discussing here) and the Premier ...
![Party In The Park (95.8 Capital FM's Party In The Park For The Prince's Trust) [ECD] - Various Artists](http://imagesb.ciao.com/iuk/images/products/small/351/Party_In_The_Park_95_8_Capital_FM_s_Party_In_The_Park_For_The_Prince_s_Trust_ECD_Various_Artists__6008351.jpg)
