Capital One Secured Credit Cards: Why Are They So Attractive?
By [http://ezinearticles.com/?expert=Max_Anderson]Max Anderson
Capital One secured credit cards have broken the mold when it comes to secured credit cards. Instead of ridiculous processing charges and annual fees, Capital One secured credit cards offer credit-bruised consumers with extremely reasonable interest rates and perks that other secured credit cards wouldn't ever think of offering.
The Interest Factor
You'd think that because secured credit cards are backed by money you deposit into an account, the interest rates would be reasonable. Unfortunately, many of the companies that offer secured credit cards could care less how much money you have guaranteeing your account -- they still charge an arm and a leg for interest.
Unlike many other secured credit cards, Capital One secured credit cards actually have very reasonable interest rates. Unlike many other secured credit cards, you won't pay a ridiculous interest rate of 20 percent or more when you have a Capital One secured credit card.
The Application Fee
It's not uncommon for companies offering secured credit cards to charge an application fee. Of course, you usually are only charged this fee if you're approved (and if the company is legitimate, they put the fee on the credit card they are issuing you). However, why pay an application fee for other secured credit cards when Capital One secured credit cards have no application fee attached?
The Credit Limit
When it comes to secured credit cards, the credit limit you're approved for really depends on the amount you deposit into your secured account.
While many secured credit cards offer the ability to get a limit for a thousand dollars or more, Capital One secured credit cards have an initial credit limit of $400. This is, however, for your own good. Capital One secured credit cards are intended to help you rebuild your credit. In order to do that, you need to take it one small step at a time.
So now that you know how much credit you can get with a Capital One secured credit card, you're probably wondering what the minimum deposit amount is to open one. Unlike most secured credit cards, Capital One secured credit cards don't require a few hundred dollars to open your account. In fact, you can deposit as little as $49 when opening your Capital One secured credit card.
Applying
Applying for Capital One secured credit cards is a little different than the other secured credit cards on the market.
Instead of applying for a secured card directly, you should try applying for their regular, unsecured credit card. Many people who think they won't qualify for an unsecured Capital One card actually do. If, however, you don't qualify for the unsecured, Capital One with offer you the secured credit card option.
If you're serious about getting a secured credit card and rebuilding your credit, you can't go wrong with Capital One. Due to their low interest rates, potential perks and lack of an application fee, Capital One secured credit cards are literally changing the way consumers feel about secured credit cards.
For more tips on getting the best [http://www.creditcardtipsetc.com/secured_credit_cards/]secured credit cards, saving money and avoiding getting taken, check out [http://www.CreditCardTipsEtc.com]www.CreditCardTipsEtc.com, a website that specializes in providing credit card tips, advice and resources.
Article Source: http://EzineArticles.com/?expert=Max_Anderson http://EzineArticles.com/?Capital-One-Secured-Credit-Cards:-Why-Are-They-So-Attractive?&id=457863
The Importance of Reading Credit Card Terms and Conditions
The Importance of Reading Credit Card Terms and Conditions by Julia Maupin
Credit card deals can be a convenient payment tool. They let you make purchases 24/7, all around the world and without leaving your home. However, it is of vital importance to use credit products wisely. In spite of the fact that lots of people use credit cards, many of us don't pay attention to the terms and conditions of our credit agreement. Very often we do not read the fine print when we receive a credit card offer in the mail. Sometimes we do not focus attention on the changes in terms on our existing accounts. In such cases we can miss very important information that can influence our credit. Though all of us realize that reading the fine print is significant, many of us choose to ignore it or not to read it with as much attention as we study the marked parts of the mail. It should be mentioned that credit card companies use this situation to their advantage. When you complete your credit card application, you are so attracted by alluring terms that you cannot admit the idea of possible changes. Nevertheless, it is common situations when credit card issuers send credit terms changes notice to acquaint customers with new requirements. In most cases, these new requirements are designed to benefit the creditors but not the customers. That is why it is of great importance to read the fine print. Otherwise it can be one of the factors leading to debt. The credit card changes in terms can impact you financially. So, make sure that you read everything your credit card companies send you carefully. For instance, overlimit fees, late fees, default rate and other charges can be rising. When you accept a plastic, you sign up the terms provided at the time of offering. Don't forget that you also sign a statement that says that credit card issuers retain the right to alter the terms whenever they wish to. In case you do not like your new terms, you can refuse them and close your current account. However, you are still under obligation to pay off your outstanding balance to your credit company. In case you go on using the plastic with new requirements, you still lose something, because the changed terms benefit credit card companies and not cardholders. You are free to choose, either to accept these credit changes or refuse them. If you select the second way out, you preserve you current terms, but lose your plastic. In case you ignore the changes you will just get excessive rates and larger debt. If you do not read the terms, it doesn't mean you didn't know about them. Using your credit card next time means you are blindly agreeing to your new terms. Before making the final decision, make sure that you understand all the terms of your plastic card, including what the fees and rates are. Be sure that you know what can happen before you agree to the new terms. Make sure that you will be able to keep your debt under control.
Julia Maupin has a lot of articles about different types of credit card deals and the possible changes in terms. You can find more information about credit card deals from Orchard bank, visiting the website. Article Source: http://www.myaddirectory.com
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