If you have received a pre-approved Capital One® credit card offer in the mail,
please read this article before you
respond to your invitation at www.MyCapitolOneCard.com.
An article
that was recently published in BusinessWeek tells the story of Brad Kehn
and his wife. The couple was offered multiple cards with low limit by
Capital One®, but then they got slammed with hefty fees every time
they were over the limit.
| "Credit card experts and counselors who
help overextended debtors say there's nothing crazy about it. Cap
One, they contend, is simply aiming to maximize fee income from
debtors who may be less sophisticated and who may not have many
options because of their credit history. By offering several cards
with low limits, instead of one with a larger limit, the odds are
increased that cardholders will exceed their limits, garnering over-limit
fees. Juggling several cards also increases the chance consumers
may be late on a payment, incurring an additional fee. And if cardholders
fall behind, they pile up over-limit and late fees on several cards
instead of just one." - Capital
One's Credit Trap by BusinessWeek |
Capital One® is a very aggressive marketing company and they generate
a large portion of their revenue from fees. If you get behind in payments,
the fees and charges can be relentless. Their current default interest
rate is over 28% - that's almost 3 times more than what Citibank charges!
Still want to accept your pre-approved offer at www.MyCapitolOneCard.com? ConsumerAffairs has received thousands of complaints against Capital
One® from angry consumers.
"Capital One® should join the circus. It has more tricks up
its sleeve than any magician we know of. Its favorite is the low-limit
credit card that, through sleight of hand, goes almost immediately into
the over-limit category, piling up charges, fees and penalties faster
than you can say abracadabra." - ConsumerAffairs.com
So, let's try be a smarter consumer
and don't be another victim of credit trap. If you are looking for a
good credit card that offers lower interest rate, higher credit limit,
better rewards program, or less fees than Capital One®, here is what we recommend. Whether you have
good credit, bad credit or no credit at all, there are better options
for you.
If you are a small business owner or college student, please
click here for recommendations.
| Category |
Credit Card Name |
Interest Rate |
Key Benefits |
Credit Needed |
| Low Interest |
Citi® Diamond Preferred®
Card
 |
As low as 8.49%* |
- 0% APR* on balance transfers and purchases for up to 12 months
- Citi® Indentity Theft Solutions
- $0 liability on unauthorized purchases
- Secure, free online acount management
- No annual fee
|
Good Credit
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Learn More |
| Airline Miles |
Miles by Discover® Card
 |
10.99%* |
- Book any travel through any airline, travel agent or online travel
site
- Double Miles on up to $3,000 in travel and restaurant purchases each
year
- 1 Mile for every $1 on all your other purchases
- Unlimited Miles that never expire as long as you use your card
- Redeem for travel credits to your account, gift cards from any of
our 70 brand-name Partners or cash starting at just 1,000 Miles
- No annual fee
|
Excellent Credit
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Learn
More |
| Balance Transfers |
Chase Platinum Visa® Card
 |
10.99%* |
- 0% Intro APR for up to 12 months
- The time period for the introductory APR and the balances to which
it will apply will be based on our review of your application and credit
history
- No annual fee
- FREE online account access
- FREE travel services including Auto Rental Collision Damage Waiver
and Worldwide Travel Accident Insurance
|
Good Credit
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Learn
More |
| Cash Back |
Citi® Dividend Platinum Select®
Card
 |
As low as 10.99%* |
- Earn 5% cash back at gas stations, supermarkets and drug stores, convenience
stores, and utilities including cable for 6 months and 2% thereafter
- Earn 1% cash back on all other purchases
- 0% APR* on balance transfers for up to 12 months
- No annual fee
|
Good Credit
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Learn
More |
| Rewards |
Blue from American Express®
 |
As low as 7.99%* |
- 0% APR for up to 15 months
- Low balance transfer APR - 4.99% fixed APR for the life of the balance
- Membership rewards express program
- No annual fee
- Blue is your launch pad to standout shopping and entertainment rewards
and one-of-a-kind experiences
|
Excellent Credit
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Learn
More |
| Bad Credit |
Continental Finance Gold MasterCard®
 |
9.75%* |
- Rates as low as 9.75% APR*
- Unsecured MasterCard accepted at millions of locations worldwide
- Monthly reporting to the major credit bureaus
- Free online access
- Excellent online tools for managing your finances
- Semi-annual credit limit increases*
|
Bad Credit OK
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Learn
More |
| No Credit |
Orchard Bank Classic MasterCard®
|
14.90%* |
- Acceptance at millions of locations worldwide, including website purchases
and reservations
- Your account information is updated and at your fingertips 24/7 so
you can manage it your way
- Email and text messages to remind you of your upcoming payment due
date with online enrollment
|
No Credit OK
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Learn
More |
 |
| Small Business |
CitiBusiness® Card with ThankYou®
Network
 |
9.99%* |
- 0% APR on balance transfers for 12 months
- Earn 3 ThankYou points for every $1 eligible business purchases
- Earn 1 ThankYou point for every $1 other purchases
- No annual fee
- Savings on everyday business purchases
- No balance transfer fee with this offer
|
Good Credit
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Learn
More |
| College Student |
Citi® Platinum Select® Card for
College Students
|
10.99%* |
- 0% APR* for 6 months on purchases, cash advances and balance transfers
- $0 liability on unauthorized purchases
- No annual fee
- Free online account management
- No minimum income or cosigner required
- No annual fee & no balance transfer fee with this offer
|
No Credit OK
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Learn
More |