- Centurion Member
- Posts: 204
- Joined: Tue Oct 30, 2012 10:25 am
- Location: TX
There are two parts to Capital One. The consensus seems to be that the Venture side of Capital One is competitive with other premium cards, but that the starter card part of Capital One is lacking. The starter cards you get don't grow with you as your credit needs grow. Some cards will lower your APR or increase your limit or throw you some extra rewards points to keep you as a customer, but Capital One doesn't seem to mind closing out accounts. Once you pick up a starter card with Capital One and have established some history with them, you can't upgrade it to a premium card of theirs; you have to make a separate application for it. So it's rather a dead end.
Me personally? I got $2000 for a $39/year 1.5% Capital One Platinum starter card last fall. I got a $500 CLI at the six-month mark. I'm not expecting it to ever grow past $2500, but it was worth it then to get a "sure thing" and start growing the revolving credit part of my credit history. In contrast, I just got a $25k Amex Blue Sky at the beginning of the month. The Capital One card was a tool, and I'll get rid of it when I feel it's not worth $39/year worth of usefulness.