"A Step In The Right Direction"

Capital One® Classic Platinum Credit Card Review
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Written by: imcdonald on 2010-09-16

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imcdonald's review:

I got approved for this card about 5 months after establishing credit with Orchard bank gold MasterCard. Nice credit line ($1,000.00) to start with due to my short history. Reports to all the big 3 monthly. Had this card for almost 2 years, and no CLI. They seem to be VERY cheap with those. I've gone over my limit one or twice though, so I can't complain to much. Customer service is very good when you can get someone in the US. Backdoor number didn't work for me at all. Lol Great step in the right direction though for someone with limited credit history. The option of putting a personal picture on your card makes for a VERY interesting "ice breaker" when paying for something. LMAO. All and all, I would recommend this card. A nice break out of the bush leagues, and toward the majors.

9 Comments

Comment 1 by imcdonald
Re: A Step In The Right Direction on 2010-09-16

Additional info:

My scores were all in the 715 - 725 range. Very short history, as a few months prior, I had no scores, and opened an Orhard bank MasterCard to start of with.
Comment 2 by wanderer
Re: A Step In The Right Direction on 2010-09-16

Congrats! Remember to consider main line cards as you grow your credit. Orchard Bank, Premier Bank and many of Capital One cards are just door openers. You may have to look at a secured card from one of the major players but, then your foot is in the door (note I said you may have to go secured - maybe not).
Comment 3 by imcdonald
Re: A Step In The Right Direction on 2010-09-17

Wanderer - I may just open one of those secured Bk of America cards. Do they do hard inquires when you open one of those secured card accounts? I'd prefer if they didn't. I got a couple of thousand coming in a month or so, why not put it to use, while I'm saving it? LOL

In the long run, I think that will serve me better...
Comment 4 by kforbes86
Re: A Step In The Right Direction on 2010-09-18

I also have this card, opend about 2 months ago. I got a credit steps letter in the mail last week saying my limit would go from $500 to $750 within 5 months of no lates or over limits. So be looking for a credit steps letter
Comment 5 by wanderer
Re: A Step In The Right Direction on 2010-09-23

Bank of Ameroca does hard inquiries. Once you graduate and get into an unsecured card, you may want to do a product change and get into one of their "world points" accounts. Many to choose from. They will do a hard pull on product changes too. Speak with experience. Note, they have good customer service and use FIA as the processor (a way around the BofA name since they process over 3,000+ other brand cards.
Comment 6 by imcdonald
Re: A Step In The Right Direction on 2010-09-23

Kforbes86 - I had this card for about two years now. No credit step becasue they started me with a $1,000 CL. Just opened a Rewards MC account with them with a $500. CL. I hope they offer me credit steps with that account. Strange, they gave me $1,000. On my first card with them and $500. On my second card. My credit has also improved dramatically, go figure. LOL

Wanderer - Thanks for the advice, I'll look into it sometime next year. I wanna let these mature a bit more. Plus, I just financed a bike this month. Figure I'd give it at least 6 to 8 months before I run anything else.

Progress feels really good.
Comment 7 by jen4088
Denied on 2010-11-18

Totally confused on why I was denied (instantly). Have received other pre-approved offers, so I don't get it. - The gentleman who helped me online was very nice. I also called customer service to request the denial letter not be sent. The CSR was helpful (told me it was computer generated- I will just trash it without opening it).
Comment 8 by wanderer
Re: Denied on 2010-11-19

Thyere may have been many factors on the denial. By trashing the letter you have not faced what they are! What is your real credit history? Likely there is a sound basis for the denial.
Comment 9 by thomas1
Re: Denied on 2010-11-19

Find out what the reason (s) were for denial. You already took the hard inquiry. You should call Cap One for recon. You have nothing to lose at this point.
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