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    #1

    Capital one

    Hi everyone,

    I'm desperate for some input and insight on this credit card. I have been getting a ton of offers from them and finally I looked at it. They keep sending me the same offer.

    The offer they sent me is:
    0% intro APR until March 2012
    22.9% variable APR thereafter
    24.9% APR Cash advances
    29.4% Penalty APR
    No annual fee

    I was discharged from Chapter 7 back in October 2010. I have not applied for any credit cards since, but a few months back started to look into because I need start building it up again.

    Does anyone have this credit card? Is this a bad card to have just to use for groceries and small purchases to start build credit again? I plan on only using it for small purchases which I will pay off in full every month. And I know even though they sent me the offers, what are the chances of them approving me for the card because of bk? Any insights or advice is appreciated.
    Last edited by lilacs80; 07-15-2011, 09:29 AM.
    Tags: None
    #2
    we have a cap one with a start rate of 0% for first year and then 14.99% or something close to that, under 15 %... there after. so far so good, although we ONLY use it when for example we have a major repair and just want to wait out some time to make certain we didn't get ripped off. i just like that option to dispute if i can. we thougth we could dispute with our debit card, but ran into problems with one of the ones we had. so, from that point on, any repairs or something like that goes on the card.

    one of use got 2000 to start now up to 3k
    and the other 1500 now up to 2000.
    8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

    Comment

      #3
      Originally posted by tobee43 View Post
      we have a cap one with a start rate of 0% for first year and then 14.99% or something close to that, under 15 %... there after. so far so good, although we ONLY use it when for example we have a major repair and just want to wait out some time to make certain we didn't get ripped off. i just like that option to dispute if i can. we thougth we could dispute with our debit card, but ran into problems with one of the ones we had. so, from that point on, any repairs or something like that goes on the card.

      one of use got 2000 to start now up to 3k
      and the other 1500 now up to 2000.
      14.99% is a much better APR than what they are offering me! Which Capital One card do you have?

      Comment

        #4
        Originally posted by lilacs80 View Post
        14.99% is a much better APR than what they are offering me! Which Capital One card do you have?
        what do you mean...it's a mastercard??? from capitol one, it has cute sun on it? LOL!!

        we got the offer last year, so it may not be around anymore?
        8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

        Comment

          #5
          Originally posted by tobee43 View Post
          what do you mean...it's a mastercard??? from capitol one, it has cute sun on it? LOL!!

          we got the offer last year, so it may not be around anymore?
          Haha....cute!

          I just jumped onto the Capital One website and they have a ton of different cards listed....cards people could apply for depending on what they want or need. So I was wondering which card you had. You have a really offer. I think because I'm newly bankrupt....22.9% might be the best they give me.

          Comment

            #6
            Originally posted by lilacs80 View Post
            Haha....cute!

            I just jumped onto the Capital One website and they have a ton of different cards listed....cards people could apply for depending on what they want or need. So I was wondering which card you had. You have a really offer. I think because I'm newly bankrupt....22.9% might be the best they give me.
            we were only out of bk for about a month before we got the offer, but i think understand why.

            we paid ALL our cc's up until the time of filing, so basically they didn't have the opportunity to report over 90 days etc. so our scores were well over 600 right after we filed.
            8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

            Comment

              #7
              Originally posted by tobee43 View Post
              we were only out of bk for about a month before we got the offer, but i think understand why.

              we paid ALL our cc's up until the time of filing, so basically they didn't have the opportunity to report over 90 days etc. so our scores were well over 600 right after we filed.
              Ahhh....I see! Thanks for your response. I appreciate it.

              Comment

                #8
                no problem! good luck with it! you may have bite the bullet for a while and then hopefully get the rate lowered. but really you need not worry about that at ALL provided you pay them in full within the 30 days
                8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                Comment

                  #9
                  Originally posted by tobee43 View Post
                  no problem! good luck with it! you may have bite the bullet for a while and then hopefully get the rate lowered. but really you need not worry about that at ALL provided you pay them in full within the 30 days
                  Will totally have to bite the bullet. But it's all good. Thanks again!

                  Comment

                    #10
                    Originally posted by lilacs80 View Post
                    Will totally have to bite the bullet. But it's all good. Thanks again!
                    welcome...anytime!
                    8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                    Comment

                      #11
                      We were in the same situation with the same offer as OP. We used the pre-approval to apply and each got a $2500 limit card, no AF, and same interest situation. We don't plan on carrying a balance, so we charge less than 10% each month and payoff. The usage is reported to all 3 bureau's each month so thats good. They gave me a good limit and no AF, which is all I was looking for. Interest doesn't matter, as you shouldn't want to carry any balance anyway. Good luck!!
                      Discharged Chapt 7 on 7/7/10.
                      Scores as of 7/12/11: EQ Fico 653; TU Fico 644; EX Quizzle 652
                      Only card right now is Cap One $2500, no AF, approved 12/4/10.

                      Comment

                        #12
                        Originally posted by ssc2761 View Post
                        We were in the same situation with the same offer as OP. We used the pre-approval to apply and each got a $2500 limit card, no AF, and same interest situation. We don't plan on carrying a balance, so we charge less than 10% each month and payoff. The usage is reported to all 3 bureau's each month so thats good. They gave me a good limit and no AF, which is all I was looking for. Interest doesn't matter, as you shouldn't want to carry any balance anyway. Good luck!!
                        Thanks for your reply! That's what I'm thinking too. I don't plan on carrying a balance on the card. I plan to use it for small purchases that I can pay off in full, that way I can start rebuilding my credit. I haven't applied for anything since my discharge. So I think now is a good time to start.

                        Comment

                          #13
                          I just applied online with one their offers I received. APPROVED! Whoopie!

                          Comment

                            #14
                            Originally posted by lilacs80 View Post
                            14.99% is a much better APR than what they are offering me! Which Capital One card do you have?
                            Who cares what the APR is on any credit card you use? You're not going back into debt are you? When you pay credit cards off in full you pay 0% interest!

                            Comment

                              #15
                              why does capital one hate me?
                              discharged 7 months ago
                              applied 3 times ,no dice
                              Filed chapter 7 on 9/17 341 on 10/20
                              Chapter 7 Trustee's Report of No Distribution on 10/21
                              Discharged and Case Closed on 12/21/2010

                              Comment

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