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Anybody use Capital One?
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| infinity HiGH |
Yea...I've got bankers :rolleyes:
And I'm thinking of switching to Capital One. I've heard some great things about them, but also a few bad things so I wanna know what the deal is with them. Their interest rates are pretty damn good so I'd like to know what kind of catch there is; what they're not telling people in the advertisements; and just how their overall service in general. |
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| English Rachel |
I had a capital one card in the UK, they were great, never had any issues with them and offered 0% on balance transfers
I never carry a balance any more so I don't shop around but if the service is the same as in the UK 10 years ago, they get my vote! |
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| Abercrombie |
Yup... my basement is full of bankers.
I got my Capital One mastercard when they first came to Canada several years ago. I rarely use it since I prefer airmiles on my Amex.
However, the card does double most warranties on some goods, so I use it for that, and where they don't take amex.
To get me to use the card more often, they once had a promotion 4 years ago where they offered a free movie ticket for every $100 spent during a certain month. That month I put everything on it, and had enough movie tickets for a whole year, and gave some away.
Other than that... they spam a lot... I get junk mail from them about twice per month offering me to upgrade to a gold card, or low-interest balance transfers, and all that crap means nothing to me as I always pay off my bills by the due dates and don't use it all that often. |
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| patpicos |
| i think its capital one or CIBC that offered me a 0.9% rate on BT for 9 months. Thinking of taking them up on the offer and have a free ride for a few months then move back the money to my LOC! |
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| zoogla |
These are shams. :rolleyes:
low-rate BTs are only good if you intend to use your card minimally for the duration of the low-rate period.
If you're a normal person that will continue to use your card regularly each month (e.g. $1,000 of transactions per month) then when you make monthly payments, the first amount to be reduced is the low-interest BT portion while the regular transaction debt will sit on the balance of your card accruing the high ~20% interest rates, until your BT is fully paid off THEN your payments will begin to apply to your regular purchases.
Just another money-grabbing technique for bankers like me! :) |
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| bossi |
MBNA Starwood Preffered Guest Master Card is the best you can get w/o an annual fee. It provides both travel rewards and the complete insurance package (extended warrenty, common carrier liability, purchase protection, even free insurance on rented vehicles)
when you sign up they give you something like 5000 points which you can use immediately to stay @ starwood hotels. I used 1000 points to stay at the Fallview Casino for half price and they gave me an additional 5000 points just for staying @ one of their properties.
www.mbna.ca
Get the platinum card w/ no annual fee |
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| Superstring |
On that note, PC financial is pretty good for your day-to-day financial needs.
Free cheques and free withdrawals from CIBC bank machines for life - and no monthly account fees. But this is obviously for a chequing account |
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| Ashley |
| quote: | Originally posted by Superstring
On that note, PC financial is pretty good for your day-to-day financial needs.
Free cheques and free withdrawals from CIBC bank machines for life - and no monthly account fees. But this is obviously for a chequing account |
I love PC. I know sopme people have had issues with them and switched back to TD, RBC or whoever. I have a chequing and savings account with PC and pay nothing. It's great!
Getting back to Capital One, my Mom has been trying to get me to switch to Capital One fo a while now.(I've just been lazy :tongue2 ) She loves them, especially the low interest rates. She's never had one complaint about Capital One since becoming a customer about 4 years ago. |
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| eRRaTiK |
hmm wonder if CapitalOne will approve my credit card app coz CIBC declined on the basis of "no credit history" :(
eh, they got mastercard. i want a visa dammit!
EDIT:
| quote: | Congratulations! You're approved for a guaranteed Capital One Secured MasterCard
Here's how to get your card:
* You'll get a letter in 7 – 10 business days that explains the details of your card, the affordable security funds required for it and directions on how to send in your funds.
* Once we get your security funds we'll mail your card. That's all there is to it. Remember, you've already been approved.
You've made a great choice to get a Guaranteed Capital One Secured MasterCard. We look forward to sending your new card so you can enjoy access to credit.
If you have any questions, call 1-866-525-8600. |
w00t! :thepirate |
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| patpicos |
| quote: | Originally posted by fayraree
These are shams. :rolleyes:
low-rate BTs are only good if you intend to use your card minimally for the duration of the low-rate period.
If you're a normal person that will continue to use your card regularly each month (e.g. $1,000 of transactions per month) then when you make monthly payments, the first amount to be reduced is the low-interest BT portion while the regular transaction debt will sit on the balance of your card accruing the high ~20% interest rates, until your BT is fully paid off THEN your payments will begin to apply to your regular purchases.
Just another money-grabbing technique for bankers like me! :) |
Dont worry, I know how it works.
I have 1 cc for my day to day stuff. The rest, i get for free rides.
Home Depot 1yr no interest...then move off and cancel card
Leons - 2 years equal pmt, no interest.....cancel after
Staples - 1 yr no pmt no interest....move off after and cancel
LOC is already on 1.9% BT rate.
My home depot free ride is almost over, so im looking for a BT to extend the free ride and also consolidate my LOC that are at 7%...then after 9month...i bring it back to the LOC
Banks/CC companies dont make much money off me. I know the process...i work for a bank :)
cant scam the scammer hihih |
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| geroin |
| quote: | Originally posted by fayraree
These are shams. :rolleyes:
low-rate BTs are only good if you intend to use your card minimally for the duration of the low-rate period.
If you're a normal person that will continue to use your card regularly each month (e.g. $1,000 of transactions per month) then when you make monthly payments, the first amount to be reduced is the low-interest BT portion while the regular transaction debt will sit on the balance of your card accruing the high ~20% interest rates, until your BT is fully paid off THEN your payments will begin to apply to your regular purchases.
Just another money-grabbing technique for bankers like me! :) |
this is why you do a balance transfer on an account that has 0 balance and the only thing you will be paying off is the low interest rate. for example if your balance transfer is around 9grand at around 1.9% balance transfer offer your interest charges per month will be around 20 bucks, that really ing good if you ask me. If you need to make purchases use another credit card and accumulate miles (points) on it ;) |
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| Atho |
| quote: | Originally posted by devnull
Home Depot 1yr no interest...then move off and cancel card
Leons - 2 years equal pmt, no interest.....cancel after
Staples - 1 yr no pmt no interest....move off after and cancel
LOC is already on 1.9% BT rate. |
Does it bother you lowering your credit score by constantly openeing and closing retail cc's accounts? |
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