"Should Recieve The Card Any Day Now"

Capital One® Classic Platinum Credit Card Review
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Written by: roughdraft on 2010-08-25

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roughdraft's review: Callout Comment 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.


Comment 1 by wanderer
Re: Capital One Secured User Icon on 2010-08-25

Remarks 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 User Icon on 2010-08-26

Remarks Nice job! Your understanding sounds strong. I wish you the best in your credit re-building stage.
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