Capital one personal loan offers

**gentledenny** · 10-03-2007, 09:22 PM

I always get these capital one personal loans in the mail and the offer like between 10,000-30,000 with no collaterial and a fixed rate of 6.9-10.9 whichever you might qualify for. I thought at one time that this would be a good deal to borrow 15,000 and have a downpayment on a house. I got the check and sent it to my bank. which lost it for 30 days so it became invalid. SO i just said it was GOD telling me that it wasnt really a good ideal. Since that time about 6 months ago i keep getting them every month. I just got one today in the mail and the minimum fixed rate this time was 12.9-to who knows. I didnt need anymore information. IS this what the credit crunch i hear about is going to do.

**Jaded** · 10-03-2007, 10:15 PM

I have a Capital One Credit Card, only because I needed to reestablish credit, and they have the right to change the rate anytime without notice. So far they haven't, but I'm just waiting.

I just got an offer for a Capital One Car Loan!

**gentledenny** · 10-03-2007, 10:31 PM

Yes, jaded i have a capital one credit card also. It is at variable 6.9 percent. It is actually the lowest rate i have. but the card i normally use is bank of america which is a 7.9 percent fixed. But you are right. they can change the rates now i guess just cause they want too. but i also always pay the cards off at end of month. i have a few other credit cards hid in a drawer somewhere, but i dont use them either. I am sure the company will close them soon.

**PrairieRose** · 10-04-2007, 08:31 AM

It's a good deal you didn't get to use that check Denny

. I just can't understand it when they send credit card apps and approve them to college students who list "no income"! They get an approved credit card with a few thousand dollars limit on it and then cry when they can't pay for it. I think they're crooks when they do things like that. I shred any and all credit card offers that I get anymore and those checks...? They get it first.

**FrugalMomof3** · 10-04-2007, 09:20 AM

I have quite a few cards myself and all but 1 sit's in a drawer stashed away.

I have a C1 card as well, bad thing about them is they dont report your credit limit to the credit bureaus.

I have had a few CC companies write me a letter telling me they are closing my account for inactivity but that's fine with me, unless it is a long time CC, then I will charge $20 and pay it right away.

OH and I get those C1 checks in the mail atleast once a week, never used em' though.

**Telephus44** · 10-06-2007, 09:28 PM

I seem to recall reading somewhere on the net that in Jan 08 Capital One will be reporting actual credit limits... an interesting point. I have a Capital One card, and I know from pulling my last credit report that they are reporting my highest balance rather than my actual limit.

I've never used the (many!) checks I get from them, but my parents did use a credit card "convenience" check once to pay for a used car - it worked out very well for them, since at the time the fixed rate for the check was 5.9, and at the time used car loans were in the 10-12% range. I can't personally imagine using them for anything right now, but I wouldn't rule out using them in the future if an opportunity arose that made sense.

**Peter** · 10-26-2007, 02:15 PM

There seem to be a ton of these offers going around. I don't know the specifics of the offer you got but definitely read the fine print. I got one offering a low interest rate on balance transfers but the low rate only applied to what was transfered. Any new charges were charged a much higher rate and any payments only went towards the low rate portion. So if you made any purchases on the card, those purchases were charged a very high rate of interest AND you could not pay that portion off until the low interest portion was paid. So I said no thanks!