Capital One Credit Cards

In a BusinessWeek article, entitled "Cap Credit Traps One", the writer Robert Berner explores how Capital One profits by lending to risky borrowers and enjoy high-end and over the limit fees. Their findings give disturbing insight into the credit card company Capital One, and the credit card company as a whole.

Capital One credit cards are not as funny as their television commercials make them appear. In fact, its no complications rewards program seems ironically titled
given the difficulties of Capital One credit cards caused a family. For four years, the family received seven Capital One credit cards with credit limits ranging from $ 200 to $ 700 with these low limits, it is easy to see how a simple mistake could trigger a limit on costs.

For example, suppose you have a credit card with a limit of $ 200
you get to spend $ 140 on groceries and another $ 40 for a tank of gas. Ouch. With mounting balances on the limit fees, they became unable to keep up payments. At one point, the couple was paid on the delay limit and fines of more than $ 400 monthly fees! While Capital One credit cards were designated in Article Berner, many other credit card companies engaged in similar practices. For those with marginal credit, just getting a credit card can be an important step in improving the credit score. But with low limit credit cards, the chance of exceeding the limit and being hit with high fees increases tremendously.

Ultimately, it is our responsibility to manage our credit wisely.

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