If you understand how credit works, this card will rock your world!
First of all, to the guy who wrote “scumbags…$300/line of credit” This card came to me with $300/line of credit. I used it to pay monthly bills and when I hit $300, I paid online and the money was taken out of my checking and cleared the next day. So with this “$300” line of credit, I was charging onwards of $1500 per month by using and paying and using and paying. The cash back on that at 1.5% is $22.50/month. Within 2mo, the card pays for itself. My score was never bogged by the “30%” utilization because any person would pay their card off on or before the day Capital One reports to the credit bureaus. Having said that, after 5mo, the card automatically increased to a $500 limit, about one year after the card was opened, and always paying on time and as mentioned, sometimes 3+ times each month to earn the cash back, exactly one year later my limit automatically increased another $2,000. So I now had a $2,500 limit. A year later, and my limit increased again to $3,500. I applied for another Capital One card and was approved, the “Buy Power” MasterCard. I then applied for a Kohls card (they use Capital One) and eventually the Capital One Platinum card. All these cards have zero annual fee with the Quicksilver being the only exception. It is well worth the $39 due to the Cashback rewards. My experience with Capital One has been superior to any other bank. Throughout this 2-year ordeal my score varied from 530-675. I had a repossession and some other issues with other creditors that kept knocking my score down. If you understand how credit works, if you can pay your balances off every month, I’m not making this up, Capital One will rock your world. If you are an impulse buyer and max out your credit with no intentions of paying it down, you can expect your experience with any bank to be terrible. One last thing, with all this approval and integrity I’ve built with Capital One, I’ve been denied by Chase, Discover, Citizen’s, Barclay, and a few others. I still have 10 hard inquiries on my credit because they remain on your credit for 2 years. It’s the greatest feeling in the world to have a total of $6,000 in available credit through just one company, in such a short time span. Don’t dig yourself into a hole and NEVER pay a fee for a secured card from banks like “Sky.” Sounds like some Scam Indian Reservation Bank. You’re securing your credit line with your own money, why would you think it’s acceptable to pay a fee on top of that? If you can’t get unsecured credit, Capital One even offers a secured card, with no fees other than interest, which is to be expected on any “credit” card. But an annual fee, participation fee, membership fee, program fee on any secured line, is a joke and bait for naive people. Don’t be suckered in by these types of schemes. Long review but very honest, so I hope it helps somebody. Let my story be proof.