What Everyone Should Know About The Capitol One Credit Card
If you want a credit card company that believes that their customers are their bread and butter. If a credit card company that is
constantly improving their service to their customers appeals to you. If you want a credit card company that is in the top 100
World's most Innovative companies list, then look no further. Capitol One credit card is all that and more.
Let's suppose you've never had much credit, but perhaps your parents have co-signed for a vehicle loan for you. Well believe it or
not, you may just fit in the "Credit needs improving" category. Here are some of the easy criteria for this category. Your household
income must be more than $10, 000. 00, and you'll need to have one year's credit. This is where that co-signed loan comes in. If
you can add to that the fact that you are at a minimum two years or more default free, you're almost there. One last criteria is that
you have not missed more than two payments in the last three months. Woohooo!! You made it.
Let's suppose you've had credit before, say perhaps, as I have, you had financed a vehicle only to have work deteriorate and be
left with your vehicle being repossessed. Not a fun place to be, but when you look at the criteria for someone in the "Credit needs
established" category you'll see there is hope. Even if you've just moved to Canada, you can fit in this category. You will most
likely have to pay a security deposit, but hey at least you can start on the road to building or rebuilding your credit.
Likewise, for those with good credit. That means you've had ongoing credit for more than six years, and in the last seven years
you've had no defaults. Your credit situation has not changed in the last nine months, and you've had no late or missed payments in
the last three months. If in addition to all that your household income is greater than $30, 000. 00, then you fit in the category of "
good credit".
Likewise, if you can say you've had credit for at least ten years, and your household income is more than $40, 000. 00, you're on
your way to the "Excellent Credit" category. If you can add to this no defaults for the last seven years, and have made all your
payments on time in the last six months, then you're in. Provided nothing has changed in the last nine months. Trouble is, I don't
make $40, 000. 00 per year. Surprisingly enough, if you made it past the no defaults in seven years trial, and over the no late or
missed payments in the last three months hurdle, you're halfway there. If you can get through the three year credit tunnel, and
come out above the $30, 000. 00 yearly household income pool, you've made it. Straight into the "Excellent and Good Credit"
category.
Depending on the category you are in, you can receive an interest rate anywhere between prime and 19. 8%. Capitol One bases
their prime rate on the Globe and Mail's business section report on the 25th day of each month. If the 25th falls on a weekend or
holiday then they use the previous business days rate.
So instead of wishful thinking, check out the credit card company with over 46 million satisfied customers world wide. They have
a place for everyone so all you have to do is find out where you fit in. Then start reaping those rewards.
For more information and tips on capitol one credit card, credit card airline miles and credit card jobs visit Credit Card Offers