Are Capital One credit cards good?

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Are Capital One credit cards good?

Postby trumpet-205 » Sat Oct 23, 2010 2:06 pm

Hi guys,

Name is trumpet-205 and I'm new here. Before you ask, no, I don't play trumpet (sorry :P ).

Anyway I'm a college student right now with no job (not even Burger king is hiring). I do have allowance from my dad and small income from online survey. I've been trying to get a credit card to start building credit. So far I have applied to six issuers and only one approved my application. The approved one is a Capital One Student Reward Visa. I'm a little worry because people online keeps saying that Capital One will hold your payment after due date just so they can collect late fee. Do Capital One actually practice this activity? Is there more I should be worried about it?

Should I keep this card or go look for something else? I heard it is easy to get a college credit card from Citibank.

Credit Card - Capital One Student Reward
Limit - $500
In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/ (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)

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Postby Mogul of Pineapples » Mon Oct 25, 2010 9:20 pm

If you applied for 6 cards and only got approved for one I would hold off on applying for more anytime in the next year. Each time you apply that is a hard inquiry on your file.

Normally I'm not a huge fan of Capital One but I highly doubt that rumor is true. That would be illegal and any company would be stupid to do something like that and expect to not get caught. Who are these people that claim to have that happen? Online payments done through a bank can take a few days to process, it doesn't mean the credit card co. is holding or delaying processing.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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Postby knuddl » Thu Nov 04, 2010 6:12 am

I don't think that's true either. I currently do have a Cap One CC.. Even though I have a secured line, the bank reports to all three agencies. That's what really matters. Any credit card will do you no good if it's not reported to any of the three major bureaus. So if your Cap One CC is reported keep it.

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Postby DoingHomework » Fri Nov 12, 2010 1:04 pm

I also don't think that rumor could be true. If they did that it would be a federal crime. Regulators and their stockholders would be all over them.

What is more likely is that they simply take a long time to process payments.

One major advantage to paying electronically by bank transfer is that you can always prove teh exact time and date a payment was received.

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Postby JL70 » Fri Nov 12, 2010 2:46 pm

I concur.I doubt a company such a Cap one would be doing that, too much exposure.

you got the card, keep your balance low and pay ON TIME, EVERY TIME, in a year or so your credit will be "pretty" enough to apply again.

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