A Capital One Credit Card is a credit card issued by the Capital One company. Capital One credit card is a credit card company, which was founded in 1988. Capital One provides a variety of benefits for its customers. It is one of the most popular credit cards in the United States. Capital One Credit Cards offer great rewards, like cash back and travel rewards. You can also earn valuable perks like purchase protection and fraud protection. These cards are perfect for people who want to earn rewards on their purchases and enjoy the benefits of having a credit card. In this post, our experts provided you with the details of Capital One Credit Cards and will assist you in finding the best option to suit your needs.
Benefits of Capital One Credit Card
In addition to the card itself, Capital One offers a range of additional services to its customers. You’ll also get these benefits when you apply for a Capital One credit card:
- Up to three family members can get their own Capital One cards
- With access to a mobile app, you can keep track of your spending and lock or unlock your card anytime, anywhere
- If you have questions or concerns, you can contact Capital One’s customer helpline
- There are no annual fees for any of its cards
- Capital One cards are protected from fraud by MasterCard Security Check, making it harder for anyone to make fraudulent purchases.
- Capital One is fully regulated by the Financial Conduct Authority (FCA), and you’re protected by the Consumer Credit Act. If something happens wrong with a purchase between £100 and £30,000, you can apply to the credit card company for a full refund.
Does getting a Capital One Credit Card to take a long time?
If you meet the requirements for a Capital One card, you will likely be approved quickly. Within 7-10 working days you will receive your new card in the mail – and your PIN code a few days earlier. After you receive your card and it has been activated, you can start using it immediately.
What is the difference between Capital One credit cards?
At Capital One, you get two credit card types:
Classic credit card
- Capital One’s regular credit card is a credit builder.
- Initially, your credit limit will be low, but you could increase it twice a year.
- If you are looking to borrow small amounts without paying any fees, this is a great option for you.
- It should be used carefully, though – since the card comes with a high annual percentage rate, if you don’t keep your balance low, you could accumulate debt over time.
Balance transfer card
- For people who think they are paying too much interest on existing credit cards, Capital One offers a balance transfer card that offers 0% interest while they get their finances in order.
- In general, Capital One’s offer is more attractive if you have a low credit score, so it’s an attractive offer – but you need to keep a few things in mind.
- There is only a six-month interest-free period on balance transfers, while many other cards offer 0% interest on balance transfers for a year or more.
- A 3% balance transfer fee is also charged.
What are the best Capital One credit cards?
If you are in the following situations, a Balance Transfer card may be a suitable choice for you:
- Ideal for people with excellent credit.
- Up to £8,000 credit limit.Up to 24 months 0% on balance transfers up to 3% transfer fee
- You may be eligible for 0% interest on purchases for three months
You are more likely to be accepted for a Balance Transfer card if you:
- Previously had credit cards
- If you are 21 or older
- you’re a homeowner earning
- more than £20,000 per year
It’s unlikely that you’ll be accepted for a Balance Transfer card if you:
- In the past, you have missed payments
- You have no credit history in the UK
- Have you ever had a CCJ or default
Classic credit cards may be the right choice for you if you are in the following situations:
- If you have bad credit or are building credit
- Credit limit of £200 – £1,500
- Credit increases are available up to two times per year, depending on the eligibility
You have a better chance of being accepted for Classic credit cards if:
- Over 18 years of age
- Even if you have had CCJs or defaults in the past, you should be able to manage credit
- if you are on the electoral roll
You have a slim chance of being accepted for Classic credit cards if:
- Never had credit in the UK
- Declared bankruptcy within the last 12 months
Learn more about American Express Credit Cards and Tesco Credit Cards.
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