Capital One is a major credit card supplier. Their TV ads,
featuring humorous barbarians have helped it capture a large share of the
credit market. Like many other of the big credit card companies, Capital One
will still consider you for a credit card even if you have bad credit. All they
need is a few bits of information and you will soon have a credit card pop into
your mailbox.
It is so simple and easy to apply for a Capital One
credit card; in many cases, all you need to do is go to their website and then
fill in one of their application forms; and you will have an answer in a short
space of time.
The credit cards they offer now are very tempting. With
cash back and air miles available on their cards, you may be thinking Capital
One is a great company to get a credit card from. Well, be careful. Be sure to
read the small print before applying for their credit card.
Capital One
does not have the greatest track record. Consumer Reports gave Capital One
rather undistinguished scores, ranking it towards the bottom of their list.
Many Capital One customers have complained about being assesed unfair late
fees, unexpected interest-rate increases, and poor customer service when trying
to resolve problems.
I have personally experience all the above
problems in my dealings with Capital One. In addition, I was unsuccessful in
discovering why they repeatedly issued ACH transfers from my bank checking
account without corresponding payments to my Capital One account. I eventually
was forced to close my checking account to stop their unauthorized
transactions.
While it may seem easy for even people with the worst
credit history to obtain a credit card from companies like Capital One, be
aware of the hazards that await you. If you want to rebuild your credit rating,
you may want to choose another method besides Capital One.
