"Should Recieve The Card Any Day Now"
Capital One® Classic Platinum Credit Card Review
Written by: roughdraft on 2010-08-25
Overall Satisfaction
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roughdraft's review: 
This will be the first card with a slightly higher limit, I will be receiving after trying to fix my credit. I had defaulted with a capital one credit card in 2008. I didn't think they would give me a secured credit card because of that. Earlier this month (August) I received a promo asking me to try their secured card. I called and was approved over the phone. You can make the security deposit in payments and have up to 90 days to deposit the $200 minimum. I opened mine with $1,000 as I want the card to cover a few bills, and plan on paying the balance in full each month. Rebuilding credit requires one use credit on a regular basis. Have a savings account for emergencies, not a credit card. I will check my score again in about 4 months. The card has an interest rate of 19.8% and a $24 annual fee. Which is actually not bad considering it will be used to rebuild credit (balance will be paid in full each month) and, other secured cards actually have a $6-$10 monthly fee, (charged each month) and $75 annual fees, in some cases. Plus it is a well known bank, so that should help my credit score as well.
This will be the first card with a slightly higher limit, I will be receiving after trying to fix my credit. I had defaulted with a capital one credit card in 2008. I didn't think they would give me a secured credit card because of that. Earlier this month (August) I received a promo asking me to try their secured card. I called and was approved over the phone. You can make the security deposit in payments and have up to 90 days to deposit the $200 minimum. I opened mine with $1,000 as I want the card to cover a few bills, and plan on paying the balance in full each month. Rebuilding credit requires one use credit on a regular basis. Have a savings account for emergencies, not a credit card. I will check my score again in about 4 months. The card has an interest rate of 19.8% and a $24 annual fee. Which is actually not bad considering it will be used to rebuild credit (balance will be paid in full each month) and, other secured cards actually have a $6-$10 monthly fee, (charged each month) and $75 annual fees, in some cases. Plus it is a well known bank, so that should help my credit score as well.
2 Comments
Comment 1 by wanderer
Re: Capital One Secured 
on 2010-08-25
Congrats! You have an understanding of credit now. Take it slow! Rebuilding is a process and you can not hurry it! I too have been there and find the slowness is to slow but it is!
on 2010-08-25 Congrats! You have an understanding of credit now. Take it slow! Rebuilding is a process and you can not hurry it! I too have been there and find the slowness is to slow but it is!
Comment 2 by joeyman
Capital One on 2010-08-26
Nice job! Your understanding sounds strong. I wish you the best in your credit re-building stage.
on 2010-08-26 Nice job! Your understanding sounds strong. I wish you the best in your credit re-building stage.
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Disclaimer: This content is not provided by Capital One. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One. Review content is powered by Finance Globe.
