Capital One credit lines for people with poor credit are great, but you should be careful before you apply. First, understand the basics of Capital One credit cards. The credit line will be increased only if the cardholder maintains a low balance. If you have a high Capital One account balance, however, you might not be eligible for an upgrade. You must also have a clean payment history. Late payments and negative marks on your credit report could disqualify you.
Capital One QuicksilverOne cash rewards credit card
If you're looking for a credit card for bad credit, you can consider the Capital One QuicksilverOne Cash Rewards credit card. This card can improve your credit score, even though it has a high APR. The card is fine as long you pay the full amount each billing cycle. Capital One also has a CreditWise program that gives you tools to monitor your credit score. After you have made five timely payments, you will automatically be considered for a higher credit limit.
The QuicksilverOne cash Rewards credit card may be an option for those with good credit but it might not suit everyone. You might prefer to apply for a starter or secured card if you have poor credit. Both cards will help build credit. Capital One's QuicksilverOne Cash Rewards credit card has low fees and many useful perks, making it a good option for people with less than perfect credit.
Capital One Platinum Secured Cards
Capital One Platinum Secured Card allows people with poor credit to rebuild their credit. An applicant must make a security deposit to open an account. The security deposit doesn't affect your ultimate credit line. However, if you have a better credit history, you may be able to increase your credit limit. Deposits can be as small as $49 up to as large as $1,000.
Capital One Platinum Secured will allow you to increase the credit limit by paying on time for six consecutive months. Your credit rating may improve over time, and you may be eligible for a higher credit limit. But, you must keep in mind that you can only spend what you have to pay back.
Capital One Quicksilver Student Cash Rewards Credit Card
Bad credit can make it difficult to get a credit line that rewards you well. Capital One Quicksilver student cash rewards credit card is a good choice. You get a 100 percent cash back guarantee with this credit card. The best part is that you don't need to worry about any annual fees.
The Capital One Student Cash Rewards creditcard is a great option because it allows college students to build credit and avoid foreign transaction fees. Students studying abroad or already in college will find this card to be a good option.
Capital One Quicksilver Secured card
Capital One Quicksilver Security Card is a good choice if you have poor credit. The cards require you to pass a soft credit screening. You will have the opportunity to return your security deposit. It's an excellent way to build your credit history.
This credit card gives you a 1% cash-back rebate for all purchases. You can then graduate to an unsecured card once your credit history has been established. Although the Capital One Quicksilver Secured Card doesn't offer a lot of benefits, it can be a great first credit card for those with less-than-perfect credit.