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Whether you have Excellent credit, or have struggled for years and ended up going bankrupt. Capitol One credit card has a credit card for you. It sounds like a good line, or a long shot, but really it’s true. And as if that weren’t enough, they put their customer first with an attitude that what’s important to their customer’s is important to them. And then to top it off, they only want to serve you to the best of their ability.

Let’s suppose you’ve never had much credit, but perhaps your parents have co-signed for a vehicle loan for you. Well believe it or not, you may just fit in the “Credit needs improving” category. Here are some of the easy criteria for this category. Your household income must be more than $10, 000. 00, and you’ll need to have one year’s credit. This is where that co-signed loan comes in. If you can add to that the fact that you are at a minimum two years or more default free, you’re almost there. One last criteria is that you have not missed more than two payments in the last three months. Woohooo!! You made it.

The second category is for people who may never have had credit, or may have had previous credit problems. This category also includes people who may be new to Canada. Check it out, even if you’ve had bankruptcy you can still qualify for a credit card. You may need to pay a security deposit in some situations. This category lets people build or rebuild their credit, while attaining some rewards for good credit management.

Likewise, for those with good credit. That means you’ve had ongoing credit for more than six years, and in the last seven years you’ve had no defaults. Your credit situation has not changed in the last nine months, and you’ve had no late or missed payments in the last three months. If in addition to all that your household income is greater than $30, 000. 00, then you fit in the category of ” good credit”.

Likewise, if you can say you’ve had credit for at least ten years, and your household income is more than $40, 000. 00, you’re on your way to the “Excellent Credit” category. If you can add to this no defaults for the last seven years, and have made all your payments on time in the last six months, then you’re in. Provided nothing has changed in the last nine months. Trouble is, I don’t make $40, 000. 00 per year. Surprisingly enough, if you made it past the no defaults in seven years trial, and over the no late or missed payments in the last three months hurdle, you’re halfway there. If you can get through the three year credit tunnel, and come out above the $30, 000. 00 yearly household income pool, you’ve made it. Straight into the “Excellent and Good Credit” category.

Depending on the category you are in, you can receive an interest rate anywhere between prime and 19. 8%. Capitol One bases their prime rate on the Globe and Mail’s business section report on the 25th day of each month. If the 25th falls on a weekend or holiday then they use the previous business days rate.

With such a wide range of credit cards, it’s not hard to believe that they really do have a credit card suited to every person. It’s no wonder they have over 46 million satisfied customers world wide. The bottom line is that credit is convenient, and in this day and age almost a necessity. With their secured credit cards, they really can guarantee you approval. Quite simply, it’s worth checking out.

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