Credit card these days are need of each one of us. We all are linked to them in one way or another and the life these days is not complete without these credit cards. The financial life of the people these days is dependent on the modern system of the payment. There are many occasions when these cards become a necessity for you.
They not only provide you ease but security as well. People cannot keep cash with themselves everywhere in the world, on the other hand, these cards are very easy to handle and are portable. They also provide many benefits to the customers like cash back, rewards and other points system.
It is very difficult to describe this credit card in just a single word. The name itself shows that it is issued by Capital one which is a big player in the market when it comes to the credit card market. The terms and conditions for this card are already mentioned on the credit card but the actual terms and conditions can be understood only after you qualify for some of their specific cards.
Good for less than perfect credit holders
We already mentioned that the card is for those customers who have less than the perfect credit record previously.
This card can act as a good starter pack for them. According to the company they wanted to issue the card to as many customers as possible and bring ease in the life of people.
They want that people who cannot get good cards can start from here and then proceed to other better cards.
Table of Credit Card Contents
Credit Card Types
Well, each bank is issuing cards for different types of people. The carefully analyze the needs of the people and then issue a card for them.
At this time they are issuing three types of credit cards for the people. These cards are fulfilling the needs of the people.
The following cards are issued by the company these days.
Application for Credit One Credit Card
There are many credit cards on the market which allow their customers to prequalify for their cards. For the prequalification, you need to provide them so of the basic information and then they check them.
If you qualify all of their terms and conditions they will issue you the credit card. This prequalification is not going to affect your credit score at all.
The original application for the credit card runs some hard checks on the information which you provided them and can result in a deduction of your points.
On the other hand, prequalifying does not assure that you are surely going to get their credit card.
However, when we talk about this particular credit card, prequalification is a must for all of their customers.
It is really good to pre-qualify for this credit card as this will give you all the detail information about the fee structure of the credit card.
This will also give you complete insight about all the reward programs of the credit card.
You will know the rates and the exact policy of the credit card for different things.
On seeing all the terms and conditions of the credit card you can easily decide whether you want to be part of this credit card or not.
The original application review is even deeper and they will fully analyze all the information which you provided them.
They can disapprove your application as well in their final review and the prequalification is not the only thing you need to be part of this credit card.
Reward Programs of Credit One Credit Card
As we already mentioned that they have certain reward programs for their customers which are giving awesome benefits to the customers all over the world.
You need to wait for the reward programs and with the passage of time, you will get to know different offers of the company.
Some of the reward programs will check your creditworthiness and then give you their respective offers.
All the rewards of the credit card company are given below.
Cash Back Rewards for Visa and Platinum Visa
These rewards are for visa and visa platinum credit cards. These cards will provide you 1% cash back on all the mobile phone services, groceries and gas.
You can also get 1% cash back from them on all the cable, satellite, internet services and TV as well.
You will also get 1% cash back from them on all other eligible purchases as well.
The credit card will also provide you with 1.1% cash back on all the dining purchases and 1% cash back on all other types of purchases from the credit card.
NASCAR Credit card rewards
Like other cards of the company, this one is also having some awesome rewards for all of their customers.
For using this credit card you will get 1% cash back on automotive purchases and the gas purchases. If you are purchasing something from NASCAR.com then you are going to get double cash back from the company.
In short, you need the card first to know all the details about when you are going to get cash back from this credit card.
One thing about this company is straightforward that all the rewards are automatically redeemed in your monthly statement so you don’t need to redeem them separately.
Interest Rates of the Credit Card
Interest rates of the credit cards are something which matters a lot these days. You carefully need to see all the rewards programs and the interest rates and then select one which is more suitable for you.
The interest rate of this credit card as per their website is 19.74% to 25.74% and we all know that they are always variable.
If your credit score is bad they are going to hurt you a lot and you will always need to pay high-interest charges to them and they are going to cover all of your cash back and reward programs as well.
The rates of this card are quite similar to other cards which are having offers like this one and accept the applications from the people with bad credit.
- Fee structure
There are many cards in the world which are not charging anything at all from their customers. On the other hand, some cards will charge you nothing in the first year and then the standard fee is mandatory for all the holders.
As for as this card is concerned the annual fee is also a mystery and you only get to know about it when you are a member of the credit card that how much you need to pay them annually.
The annual fee as a guess in the first year is between 0$ to $75 and it can vary as well. For the next years, the annual fee is increased and you may have to pay up to $99 to the credit card company.
After the first year, you can also pay them the annual fee in monthly installments as well and that is I think a very good offer for the people who want to be part of this credit card.
- Detail information
All the information about the card can easily be seen on the company website or is given to the customers when they are becoming a proper member of the company.
As per the document uploaded on the website, there are seven different fee structures of this credit card and they can ask you to pay any one of them as per your credit score and some other things which they analyze while you are applying.
- Authorize user on your card
You can also authorize another user on your credit card. The user which you want to use must be older than 15 years.
They will charge you a fee as well for the new user which you are authorizing to use your account. The fee for this user is $19 per year.
- Fee for foreign transaction
They will charge you a fee for the foreign transaction as well. This is mostly 3% of the amount which you are using in the transaction.
The minimum fee for the foreign transaction fee is $1.
- Cash advance
They also charge the customers for the cash advance as well. They will deduct $5 or the 8% from the amount which you are submitting as a cash advance to the credit card company.
The amount which is greater will be deducted from your account automatically.
Sometimes they also charge $10 or 8% of the amount which is used in the cash advance. Here again, the amount which is greater will be deducted from your account after the cash advance.
- Fee for late payment
Well, you need to be very careful while making payment to the company. Make sure that you are not paying them late at all.
If you pay them late, there is a penalty which you need to pay. They have late payment fee as well and it can be up to $37.
The best thing is to avoid all such late fees by paying all of your dues on time.
- Fee for returned payment
They will also charge you pay for returning a payment to them. The fee for this is up to $35 so the best thing is to avoid return payment and pay carefully to the company.
- Increase your limit
You can also increase the limit of your credit. The limit of the card already looks fine but if you think that you need even more money for your purchases then you can easily increase your limit.
There is a fee for the limit increase and it can be from $0 to $49. You need to call the customer care of the company and ask them to increase your limit of spending each month.
You can also increase your limit by visiting the set in your login.
- Fee for a duplicate monthly statement
They can also provide you duplicate statement which is going to help in all the legal matters.
However, you need to pay a small fee for this duplicate statement. The fee for this duplicate statement is $10.
- Request a sale receipt
They have all the record of what all are you doing using the credit card of the company. You can always ask them for whatever information you need from them.
However, a small fee is charged for this as well. You need to pay $6 from your account.
- Replace your card
It is very easy to replace your credit while you are a member of credit one credit card. They will provide you with the new card on your request.
The new card can request if it is lost or stolen.
There is a small fee for the replacement which you need to pay to the company. They will charge you $25 for the replacement of the credit card.
- Fee for balance transfer
You can use your credit card to transfer balance as well to other accounts. They will charge you a fee as well for transferring fee to other accounts.
They will charge you $5 or 8% of the amount which is transferred. The amount which is greater will be deducted from your account.
- Grace periods
There are many cards which provide grace periods to their customers when they pay the full amount to the customer.
If you are using this credit card then you are not sure that you are going to get grace period from the company.
Of all the terms and conditions which you sign while getting the card, there is the introduction of the grace period of the company as well.
You all know that the balance on your credit card is that of the purchases you made using the credit card. The balance also includes some other fees and interest if that is applicable.
You need to make sure that 5% of the balance is paid at once to the credit card. Most of the credit cards in the world charge 1% to 3% of their customers as the minimum balance.
Once you have paid the dues for the first months then you can call the customer care of the company and choose the due date of your own choice.
However, you need to make sure that it is before 6 days of your due date.
You need to be very careful while making payment to these companies because it takes some time for the amount to be credited in your account.
You can visit their website to get the details of how many days the payment takes to reach their account.
You can choose the payment method as per your needs and ease. They provide both standard payment methods and express payment system as well.
Payment issues are very common these days in the world but the credit one credit card makes sure that all the complaints to the company are solved immediately.
Sometimes you can have the issue of paying online your bills because the website may not work at times.
Credit Protection Program
They are also good in the sense that they are providing credit protection program to their customers.
There is just single confusion about the program that it is quite expensive for the credit card holders.
This program is exclusive for the special and disabled persons only. If you are unemployed or disabled then you can avail this offer of the company.
It will make sure that the tenure for the minimum payment is increased to six months under this program.
You will get a benefit of 96 cents from the company for every $100 balance.
There are many other decent features in the credit card which makes it a good choice. They provide zero fraud liability to their customers.
The terms and conditions of the card also warn people that they must report all illegal and unauthorized charges to the company.
You can also personalize the design of your own choice and then enjoy the perks of this credit card.
You must have got an idea about all the features of this credit card. They are really good to use and provide awesome rewards and cash back offers to their customers.
Some of the things may seem awkward before you begin with them but after the successful application that will be solved immediately.
With the passage of time, you will understand all the terms and conditions of this card and love to be a member of this card.
How do you rank this card after looking at the facts and figures given above?
You must have used other cards as well and now have a pretty good idea about what all these types of cards give to the people. We are looking forward to hearing back from you.