"Capital One Is #1 With Me.."
Capital One® Classic Platinum Credit Card Review
Written by: wildrage2 on 2008-03-08
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
wildrage2's review: 
I started with this card about 6 months ago, and although I know many on the board recommend it, I thought I would just chime in.
At the time I had also applied for some other sub-prime cards. I was actually initially declined for the Orchard Low Interest Card. My FICOs were all around 560. I applied to Capital One and got the "We need more time to review" message, and figured I'd get a rejection letter.
Well, about a week and a half later I got my card in the mail. Only a $300 limit but no annual fee and 0% APR for the first 6 months. This, when even some other high fee subprime cards rejected me.
About a month later I got a letter entitled 'credit steps' that told me upon making 3 on-time payments and not going over limit, I'd get an increase to $500. Sure enough on MIDNIGHT on the closing date of my 3rd statement, my limit was increased to $500. Now, 3 months after that, MIDNIGHT on my closing date of the 6th month, I'm up to $750.
I'd highly recommend this card to anyone trying to rebuild. It might be worth a shot, even if some of the other companies turned you away. It's also a card that will grow with you... Not like other cards like Rewards 660 (which I also have), that cap their limits at $2k.
I started with this card about 6 months ago, and although I know many on the board recommend it, I thought I would just chime in.At the time I had also applied for some other sub-prime cards. I was actually initially declined for the Orchard Low Interest Card. My FICOs were all around 560. I applied to Capital One and got the "We need more time to review" message, and figured I'd get a rejection letter.
Well, about a week and a half later I got my card in the mail. Only a $300 limit but no annual fee and 0% APR for the first 6 months. This, when even some other high fee subprime cards rejected me.
About a month later I got a letter entitled 'credit steps' that told me upon making 3 on-time payments and not going over limit, I'd get an increase to $500. Sure enough on MIDNIGHT on the closing date of my 3rd statement, my limit was increased to $500. Now, 3 months after that, MIDNIGHT on my closing date of the 6th month, I'm up to $750.
I'd highly recommend this card to anyone trying to rebuild. It might be worth a shot, even if some of the other companies turned you away. It's also a card that will grow with you... Not like other cards like Rewards 660 (which I also have), that cap their limits at $2k.
7 Comments
Comment 1 by hjm331
I'm Happy For You 
on 2008-03-08
I also agree with you. Capital One is the first credit card lender that gave me a credit card with not even a day of credit. I'm 18 going onto 19 and I love this card because it's opening doors to other big name cards.
on 2008-03-08 I also agree with you. Capital One is the first credit card lender that gave me a credit card with not even a day of credit. I'm 18 going onto 19 and I love this card because it's opening doors to other big name cards.
Comment 2 by chrispa
Good Luck! on 2008-03-08
Congrats Wildrage2!
I just got this card in January. I also did receive the credit steps letter last month saying they will increase me to 500 ect. My scores are tu 587 eq 605 ex 615 all in the low to near 600s. If you don't mind me asking, what was your payment method? Pay in full every month, carry a balance ect. They are treating you good and I think they will do the same for me. Thanks for sharing.
ChrisPA
on 2008-03-08 Congrats Wildrage2!I just got this card in January. I also did receive the credit steps letter last month saying they will increase me to 500 ect. My scores are tu 587 eq 605 ex 615 all in the low to near 600s. If you don't mind me asking, what was your payment method? Pay in full every month, carry a balance ect. They are treating you good and I think they will do the same for me. Thanks for sharing.
ChrisPA
Comment 3 by meya
Hey Now on 2008-03-08
It's all about cap1. I don't care what anyone says! Way to go on your cli!
on 2008-03-08 It's all about cap1. I don't care what anyone says! Way to go on your cli!
Comment 4 by cassey346
Capital One on 2008-03-08
I like capital one I have only had the card since Dec.2007 and have had a total of $800.00 increase I started out with only $300. Now I'am up to $1100.00 which is great. I don't pay them off in full every month I just make double the payments. So if my payment is $15.00 I make a payment of $30.00. I have a capital one Visa rewards card. And my FICO score is very low right now.
on 2008-03-08 I like capital one I have only had the card since Dec.2007 and have had a total of $800.00 increase I started out with only $300. Now I'am up to $1100.00 which is great. I don't pay them off in full every month I just make double the payments. So if my payment is $15.00 I make a payment of $30.00. I have a capital one Visa rewards card. And my FICO score is very low right now.
Comment 5 by arod
Congrats on 2008-03-08
This card is great.
I love this card and guess what if you go to there web site you can now add your picture on this card
I have capital one for three years and no complaints.
I am happy for you,
Good luck,
Alex
on 2008-03-08 This card is great. I love this card and guess what if you go to there web site you can now add your picture on this card
I have capital one for three years and no complaints.
I am happy for you,
Good luck,
Alex
Comment 6 by wildrage2
Cap 1 on 2008-03-09
My payment method might be a little unorthodox. I used the card a lot, and since I started with such a small limit, I would make multiple payments per month. All payments are free and post the next day. I probably carried an average balance of around $75 from month to month.
I don't think Cap 1 factors that in, however. According to their letter, its only based on payments.
on 2008-03-09 My payment method might be a little unorthodox. I used the card a lot, and since I started with such a small limit, I would make multiple payments per month. All payments are free and post the next day. I probably carried an average balance of around $75 from month to month. I don't think Cap 1 factors that in, however. According to their letter, its only based on payments.
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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.
