In the 1900’s or even before that, the Americans obtained “book credit” from vendors who allowed them to enjoy the same financial flexibility. Although the 21st-century extent of credit card use may be new, its function is just the same. Capital One credit cards reach the hands of the customers with added benefits.
Capital One Financial Corporation is a banking firm specialized for credit cards, home loans, auto loans, and banking and savings products. The company is headquartered in McLean, Virginia. Over the period of time, Capital One credit cards have become one of the best choices of their customers as they have introduced financial flexibility into the consumers’ lives. It’s hard to say No when someone is offering you a credit card, especially not the one issued by Capital One.
Studies have shown that the biggest reason why credit cards are in use among most of the Americans is due to its high availability. On an average, an individual starts using a credit card at the age of 20 and continues using it for almost all his life. Availability of debt turns out to be an on-going addiction and it is nearly impossible to live a debt free life ever after. Typical credit card users are known as “revolvers” because they don’t pay off their bills completely and hence, the debt revolves. However, close to 35% of America’s pay off their bill every month. They use credit cards for other reasons, perhaps to generate bonus points and rewards, and not because they have a need to borrow. There are literally hundreds of different credit cards available today with various combinations of benefits, fees, terms, interest rates, and rewards. Choosing the right kind of card might seem like the most difficult task. Therefore, it is very necessary to take some time to analyze your spending habits.
That’s when Capital one step in to provide you the assistance in knowing what to look for in order to help you narrow the field, and find a card that fits your needs. In case, you choose to use the credit card regularly and pay off the balance every month, then interest rate won’t make much of a difference to you, but the rewards you can earn with your purchases might. However, if you are going to use the card to make huge purchases and pay it off over time, then the interest rate would be an important factor for you.
When deciding which of the Capital One credit cards is best for you, you check out the details. You would want to consider some of the terms mentioned here:
- Annual fee (if applicable)
- Annual Percentage Rate (APR) for purchases
- Annual Percentage Rate (APR) for balance transfers and cash advances
- Grace period
- Other fees (such as balance transfers, late payments, and cash advances)
The Capital One Secured MasterCard is one of the best options if you wish to boost your credit score. It has no hidden charges or annual fee. It’s a good secured credit card with few fees from a reputable company. The Capital One Secured MasterCard has a few other notable features, including a range of deposit options that start low and the ability to increase your credit line. Like all secured credit cards, the Capital One Secured MasterCard requires a refundable security deposit. However, unlike most secured cards, which set your credit limit equal to your deposit, the Capital One Secured MasterCard allows for a lower deposit based on your credit score. Capital One will let you pay your security deposit in installments if you can’t pay it at once, as long as you provide the full amount within 80 days of your approval. If you are someone earning a fixed income, then this is a great advantage for you. If you’re approved for the Capital One Secured MasterCard, the on-going APR will apply right away; there’s no introductory period with 0% interest.
However, most credit cards for bad credit don’t offer a 0% introductory APR anyway, so you’re not missing anything. Besides, if you’re paying off your balance every month on time and in full, the interest rate won’t matter because interest won’t accrue. Like most secured cards, Capital One Secured MasterCard doesn’t offer rewards.
Even though there are many competitors in the market, Capital One Financial Corporation, has been able to generate 62% of the company’s revenues from Capital one credit cards alone. The company was the 3rd largest credit card issuer, with an outstanding receivables balance of $91 billion, representing 12.1% of the total outstanding credit card receivable balance in the United States. As of December 31st, 2016, Capital One had a total of $97 billion in credit card loans outstanding in the United States.
