Three Ways Capital One Credit Cards can Help Your Credit


Capital One has always produced some of the best commercials and advertisements on television in comparison to other card companies, and that makes it a desirable card by itself. Of course, fun commercials don’t rank high on the list of reasons to apply for a Capital One credit card, but maintaining good credit, having an easy to understand statement and having great customer rewards do rank high up on that list, and that’s just a few of the many reasons you should consider applying for one of the many cards the bank offers.

Before you go applying for your cards, you should know that they can help you improve your credit. Capital One isn’t big on offering cards to those who have poor credit, and you’re not getting one if you have anything less than good credit. However, if you’re a student or a first-time cardholder, you’re going to want to know how you can establish a good credit history and do it while saving yourself the horrors of credit card debt after applying for this card. Relax; it’s really not that hard.

Only Apply for One

If you apply for one and the company tells you that you have to wait a few days to find out their decisions – which often happens when someone with no credit history applies for a card – don’t go applying for multiple cards hoping that you’ll get one right away. Each and every time you apply for a card, your credit limit is lowered a few points and it can have a lasting negative effect on your credit score.

Keep Balances Low

Just because Capital One sends you a $10,000 limit (and I don’t know if they will or not, it all depends on your credit history) doesn’t mean you can max it out and use all of it. Of course, you can do that if you pay the card off in full at the end of the month, and there is nothing wrong with that. However, if you’re not going to pay it off, at least keep your limit at or below 30% of the available limit. This is going to be how you keep your credit score looking favorable.

Pay on Time

Never, ever pay late. Even though you might know most creditors will wait until you are 30 days or more late with a payment to notify credit bureaus, they’ll raise your interest rate if you pay one minute late at any point. They will also place a late fee on your account which you will be responsible for paying.

Photo Illustration by Justin Sullivan/Getty Images


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