"2 Year Anniversary"

Capital One® Classic Platinum Credit Card Review
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Written by: san201083 on 2010-05-19

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san201083's review: I applied this card when 2 of my creditors closed my accounts due to non payments. Off course I lost my job and could not afford to pay bills. Then after a year later I got this pre-approved card in mail. There was 40$ annual fee on this card with a credit limit of 300$. Then after 3 months of on time payments ( full payments) and zero balance they increased my credit limit to 500$. After the previous default incidents I have been using my credit wisely, made on time payments and never crossed 40% of credit line. Over the past 2 years I applied for only 2 other cards and were rejected. But slowly my credit score started to improve and came to the 675 - 715 range. During last December capital one increased my credit limit by a whopping 3000$. My current credit limit is 3500$. I have been paying bills on time now and staying within 30% of credit line. Recently (April)I got a pre-approved offer from discover and went for it, they approved me card with 3000$ credit line with no annual fee. My score is now in range of 710 - 745 range. I am really happy now as my scores have improved. Thanks to capital one they approved me a credit card when no one would offer me one. They gave me a chance to rebuild my credit history and helped to have a good financial situation. I would recommend this card to anyone who wants to build or rebuild credit. Five stars for Capital one

6 Comments

Comment 1 by colonative
Re: 2 Year Anniversary on 2010-05-19

Congratulations. Capital One is a great company to re-establish credit with or as a first card as was my case. Twelve years later I still have my Capital One and they have grown with me and have stayed competitive with my other creditors.
Comment 2 by wanderer
Re: 2 Year Anniversary on 2010-05-19

Congratulations! Thanks for the great insight. As has been said, Capital One has helped many people to make a second start. Not many good companies do that anymore. You have made super progress in credit repair!!!
Comment 3 by hjm331
Re: 2 Year Anniversary on 2010-05-19

Great story! This will definitely encourage others to apply for a Capital One card who need to establish or rebuild their credit.

Have you called their backdoor number and tried getting them to waive the annual fee?
Comment 4 by faith
Re: 2 Year Anniversary on 2010-05-19

I applied for this card 4 years post Chapter 13, starting credit limit of $500. 5 years later, credit limit is at $4,500. Not much of an increase because I hardly use the card but when I show a pattern of use, I usually get an increase. My account was even upgraded to the next status, whatever that means. My only complaint with Cap1 was that they weren't reporting credit limits but since that has now changed, I would definitely recommend the card for rebuilding. I'm sure with the credit crisis, as with other banks, they tightened up a bit but I would recommend the card if you qualify for it. They even waive the $19 annual fee each year.
Comment 5 by san201083
Re: 2 Year Anniversary on 2010-05-20

How to get the annual fee waived and what is the backdoor number??
Comment 6 by wanderer
Re: 2 Year Anniversary on 2010-05-23

WOW! Congrats on getting great results from Capital One. Good credit and great FICO Scores sure makes a difference!
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