Credit Q&A

Q:I’m looking for a new credit card, and was going to apply to Capital One since I see their advertisements on TV. However, I don’t want to apply unless I think I will get approved. What credit score do they require?

A:Since Capital One is one of the largest credit card issuers in the country they have a total of 23 different cards spread across four different credit quality categories. With all the cards they have available, they have something for just about everyone. Their four classes of cards, based upon the credit quality of the applicant, are categorized as: "excellent credit", "good credit", "average credit" and "limited credit". The score required to get a card will vary depending upon the card for which you apply. Also, the APR (interest rate) and the credit line, will vary dependent upon the credit quality and the income of the applicant. If you go to their website, click on the "Compare All Credit Cards" tab. At the top of that page, you will see in small print a link to a page that will help you "Find your credit level". Click on that link and you will see a chart that will easily let you determine which Capital One credit cards are best for you.

You can also check Credit Gumbo's Pick of the Best Credit Cards.

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posted by mw | 8/18/2009 | permalink |