my credit card finally came
By winterose
@winterose (39887)
Canada
May 25, 2012 2:58pm CST
I know a lot of you said capital one was bad, but the credit card rules are different in Canada. I got my card today,.
I read the rules for the credit card and there is no late fee charge, I called them up and I confirmed there is no late fee charge.
Then I did a google search of best and worst credit cards.
On the list of worst credit cards in America, click here if you want to see for yourself,
http://www.dailyfinance.com/2010/10/12/consumer-reports-names-the-worst-credit-card/
and http://www.dailyfinance.com/2012/01/10/5-worst-credit-cards-of-2011-cardratings-plastic-hall-of-shame/
Capital one is not on that list.
Now for the best credit cards in Canada - remember I was considered to have no credit history which is the same as bad credit Capital One is on that list on the best credit cards in Canada
Capital One is the first card on the list
http://www.creditcards.ca/best-canadian-credit-cards.php?aid=1
any thoughts?
5 people like this
13 responses
@MoonGypsy (4606)
• United States
25 May 12
i was once with capital one. i ended up not paying on the credit card and it went on my credit. this is my fault, i don't blame capital one. i was just more younger and stupid at the time. i think they are one of the best companies for people who normally can't get a credit card to get one. all you have to do is keep up the payments and keep the account open as long as you agree to (i think). it's a good program that i would recommend, if i were to recommend doing things by credit card. i myself, have to be finished with it.
3 people like this
@winterose (39887)
• Canada
25 May 12
I have paid by cash for over 25 years, and there are just times you need things and you don't have have all the cash for it.
2 people like this
@celticeagle (159008)
• Boise, Idaho
25 May 12
I have had several cards in my sixty years. In looking at this one it has alot of perks and sounds nice BUT, then you look at the annual fee and it is $60 a year. I think when, and if, you added it all up the perk would pretty much equal the annual fee. See what I am saying? They make it look like a good deal with 1% back on this and 3% back on that but at the end of the year when you have to pay the annual fee you're basically just giving them back their money.
2 people like this
@winterose (39887)
• Canada
25 May 12
yep you got to be careful when choosing a credit card and get the one that best suits your needs.
2 people like this
@winterose (39887)
• Canada
25 May 12
the capital one card that I just got only has an interest rate of 14.5 but I am in Canada so the rules are different.
1 person likes this
@celticeagle (159008)
• Boise, Idaho
26 May 12
That isn't a bad percentage rate but I was referring to the annual fee and the perks they give you back. Looks they would cancel eachother out.
1 person likes this
@GardenGerty (157551)
• United States
25 May 12
My thought is that you have done your research well and that you will use that card wisely. I am glad it came. We had no problems with Capitol One as long as hubby made his payments. You will do fine. I am glad someone is giving you a chance.
2 people like this
@winterose (39887)
• Canada
25 May 12
yep it is about time things turned around for me
1 person likes this
@winterose (39887)
• Canada
25 May 12
we still will use cash for most purchases, this is just for emergencies
1 person likes this
@sid556 (30960)
• United States
26 May 12
Well, unless the list is lying then it sounds as if in your country that Capital One is one of the best. I am in the States and I had a Capital One card and I really didn't have any trouble with it. I have paid it off and I stupidly closed it a few years ago. I have been cleaning up my debt and am almost there. Once it's done then I will just get one card and use it in emergencies only.
1 person likes this
@winterose (39887)
• Canada
26 May 12
there is no reason for a credit card reporting company to lie they don't work for any of these companies, they just do the research to compare credit cards and what they offer and if they are a good or bad choice for the consumer.
@sid556 (30960)
• United States
26 May 12
I know that. I was being sarcastic. I am sure they are fine and even here in the US. Like I said, I had no trouble with them. But then again, I did not fall behind with them and miss payments. The problem that I had was with my wallet and I had to consolidate and clear up some of the debt I had accumulated from raising the girls alone. The key, I learned is to only have one and don't let it get too high.
@Rick1950 (1575)
• Lima, Peru
26 May 12
Yeah, it's good to have a credit card. You can buy some products that are being sold at a lower price. You can also get bargains in Supermarkets and shopping centers. Only you have to manage your card on the right way. That is, not to accumulate more debts than your cash incomes. Take care.
2 people like this
@winterose (39887)
• Canada
26 May 12
of course, if you buy more than you can afford you get into debt, I am going to pay the full balance after every purchase or I won't purchase at all
@danishcanadian (28953)
• Canada
26 May 12
I am glad you finally got it. My husband has one with a small limit of $300, and we have it for emergencies. We used it in Montreal last month, and we used it to pay a couple of bills, paying off the full balance every month. It's a great card to have, and really nice during emergencies.
1 person likes this
@winterose (39887)
• Canada
26 May 12
capital one is okay it is listed as one of the best in canada and we have different rules in canada as well.
Capital One is not even the worst in the usa see the link I provided there is one credit card with a 49.9 per cent interest rate.
@AmbiePam (85489)
• United States
26 May 12
I don't believe I was one of them that said not to get Capital One. I used to have a Capital One card. Now they DID charge a late fee, and unfortunately I had to pay that one time - 25 dollars. I never really had a problem with them. But I got a better deal from American Express. I earn more money back, and since I only want one credit card, I canceled my Capital One and got the Am Ex.
1 person likes this
@lynboobsy11 (11343)
• Philippines
26 May 12
I'm already one year in my credit card and I still don't have problems with it. I knew that they have bank charges in late payment almost $5 that's why I never paid in late. The annual fee is also $25 I was surprise when i saw it last month I never realized that I'm almost one year old using my credit card.
@winterose (39887)
• Canada
26 May 12
that is good, as long as you keep paying on time, you will have a great credit history
@PointlessQuestions (15397)
• United States
25 May 12
All I can say is good luck to you. I would never deal with them or any credit card again. I've come to believe if you can't afford to buy something you can't afford a credit card. I hope you will always love it and you'll never be sorry. That's not the case with me.
1 person likes this
@winterose (39887)
• Canada
25 May 12
it will be good I am very careful with my money after being broke for so many years. I was even good with them when I had credit cards and paid them all off, never missed a payment and never went over the limit.
We are paying off any purchases we ever make with the card, on the due date. We are not going to be using the card all the time, it is just for emergencies.
2 people like this
@PointlessQuestions (15397)
• United States
25 May 12
I know you will. It will be a relief to have that safety net. I've only had bad experiences with them. The charges are so ridiculous that I could not catch up ever.
1 person likes this
@rayf227 (95)
• United States
26 May 12
Just a word of advice. Pay off your balance every month. Don't spend what you cannot pay off in one payment. Credit cards can be useful, but can get you into a lot of debt if you're not careful.
@winterose (39887)
• Canada
26 May 12
if you read my discussion you will see that is exactly what I intend to do. I had credit cards 25 years ago and paid them all off.
@poppywoppy (89)
• United States
26 May 12
Wow, that's amazing that you found a card with no late fees. What is the APR on it? You really got lucky with that card because I know how hard it is to get a card with no credit history, the banks won't even consider you.
1 person likes this
