Is Capital One a horrible credit card company to have? Also, is Chase horrible to have as well?

Question

What is the best credit card company to have?

Answer 1

I have a Cap One card. Even though I do not use it often, I have never had an issue with them. I have a Chase Disney card and found the customer service department to be very good.

I personally love Amex and use it everywhere I can. When I can't use it I use my Disney card.

Answer 2

Capital One is the WORST card to have, I agree with an above person. I have one and I'm going to cancel it as soon as I get a new card. Whatever you do, stay away from Capital One. They are easy to get especially if you don't have any credit history, however they will kill your score. Capital One starts you out with a credit limit of $300.00 as a base limit. For Example: let's say this-you charge $200.00 on your card. They will report $200.00 is your limit on your card, the result is they're lying obviously it is $300.00 right? By doing this, they are saying you max out your card every month which is total bullshit. Simple as that. Oh, yea Capital One charges you a 21% interest rate. They report the wrong information to the bureaus saying that you always max out your credit card, eventhough we both know it's not true. Why Capital One does this, I don't know. Go figure!

As for Chase I've heard they are a good credit card, I'm not going to lie to you on this one. I don't know very much about Chase card, my theory is they are pretty good. They offer you like rewards points on purchases. To be completely honest with you, I don't know much about the Chase credit cards.

Last but not least the best credit card to have is a tough question? I think I would go with American Express but it's very tough to get one of there cards, you have to have a high credit score to do that. Then again, American Express are not guaranteed to get accepted everywhere, go figure. This is because they charge the merchant a high price to use there card.

Don't get in such a hurry to get a credit card, look around, ask around your friends to recommend you some cards they own or you know that type of thing. I can't decide between a Chase Freedom Cash Card, or a Banner Bank Platinum Rewards Visa ( I bank with them).

I hope my answer helps you a little bit. Look around, don't get in a hurry and good luck. Anything else I can help you with message me.

Answer 3

Most all credit card companies are the same...they want your money...but they are nice to have if you stay responsible with it...for instance, do not (DO NOT) withdraw cash from a credit card!! And if you use the card for purchases try paying it off every month so you dont accrue finance charges...look at the details...most all companies will offer cards that have no annual fee...and find the best rate...ask the company how often you may request for APR reductions...making payments on time and keeping the account well below your credit limit will give you better odds at lower APR's and more ofter credit line increases...always ask the company that you are planning on applying with.

Answer 4

I had a capital one card for about a year I did what I needed w/ it to establish my credit and then I canceled it. C1 is really only good for that, or if you have bad credit, in which you shouldn't have a card anyway. The best card I have had is the one issued from my bank the BofA world points plus.
I'm not a fan of chase only because when I was 18 I had a purchase dispute of 300 and they never resolved it with me and I wasn't able to get a bank account let alone a cc for almost 5 years.

Answer 5

As mentioned by others, Capital One has a less-than-great reputation. And, as also mentioned by others, always shows your utilization at 100% which hurts your FICO credit score.

Chase has a better reputation than Capital One.

American Express has a great reputation and my experience with them backs that up.

I've had good experiences with Citi as well.

In general, your strategy for using credit cards should be to funnel all/most of your normal spending through them (what you've got cash to cover and won't max out your card(s)) and pay them off in full every month. That way you build your credit quickly, avoid interest, and, if you have a rewards card, earn *rewards*.

To find the reward credit card that will pay you the most for your normal spending, you can use this reward calculator:
http://www.creditcardtuneup.com/

Answer 6

To answer your question about which is best, American Express is the best - at least as far as your credit is concerned. Capital one is the absolute worst card you can own. Don't get one. The previoius posters were correct when they mentioned that cap 1 doesn't report credit limits. It always looks like your card is maxed out. This tanks their customers' scores. They even testified before Congress in 2003 that they withhold limits from credit reports 'routinely.' Now why would they do something so awful? Could it be that by tanking their own clients' credit scores they then create a *gasp* captive customer base? Draw your own conclusions, but I know what I think about it.

Answer 7

Define horrible. I have Capital One and I love it. Their customer service is usually on the ball but they outsource to India or New Zealand so you usually get someone out of the country for customer service issues. They're pretty strict on payment amounts and due dates, I was on time but short $4 (on accident) and they raised my interest rate TWENTY points. I called and spoke to a supervisor and they eventually took my Interest rate back down but I still had to pay the additional interest for 2 months. Chase is pretty good, I've heard, but they require a pretty high credit rating like American Express. Meaning they usually offer a higher credit line, but the penalties are steeper when you're late or over limit.
As far as which company is BEST.. that's a personal choice. It depends on what's most important to you. Open credit? AMEX. High Limit and minimum monthly payments? Discover or Chase. Manageable credit limit (between $1,000 and $5,000) Capital One or your own bank. Low limit? ($300 - $500) Orchard, WFNB.

Remember... lower limit cards usually have HIGHER interest rates because it implies you have a lower credit score. If you've got a pretty good credit score, look for something offering a 0% intro offer and between 3% and 10% standard.

AND READ YOUR CONTRACT

Answer 8

I have a Chase Free Cash Rewards(SM) Visa® Card.
This great credit card issued by chase has no annual fee and a Intro 0% Fixed APR for up to 12 months on all purchases and balance transfers. Now thats real cool. To add to the benefits the Chase Free Cash Rewards(SM) Visa® Card offers 1,000 Bonus pts after first purchase. The cashback offer has earn 1 point for every dollar in purchases and $25 check or a $25 gift card/certificate from participating merchants for every 2,500 points earned. Who wouldn't like to have such a credit card?
Apply online at: http://www.credit-card-gallery.com/Chase.html

Answer 9

Capital one is the worst especially if you want to build up credit. Why? The post your limit at the amount you used on your card so you are always maxed out as far as the credit reporting agencies are concerned. You start out with a $300 limit for a fee. Say you spend $100, they report your available credit as $100, and your use at $100. Don't be an hour late with your payment especially if you are close to your limit because hughefee for overlimit Research FICO scores and you will read that it is the worst cad to get, and do not contribute to your credit score

Answer 10

I have 2 cards from Chase (yes I'm a glutton for punishment, lol) but it's really been good to me. I've also had a BOA secured card. Capital One would be a pretty good company if they would only report the account like it should.