Watch out for the Capital One FF credit card

Wow, that's a whopper hiding in the fine print! It's not that hard to run up more than $1000 on a long trip, especially if airfare is included. So in effect, you're paying $50 for the privilege of acquiring the FF miles at a fast pace...shabby, Capital One, very shabby! Caveat emptor, indeed.

And that means you're limited to $12,000 a year for mileage earning without paying big fees? Gee, stay in a decent hotel for a week and your bill will be more than the limit!

There were already some other things I didn't like about this card including not being able to combine miles with other sources and not being able to claim open-jaw flights. But this one is the worst!

I'm not sure I understand what you are saying. My husband and I each have a Capital One card and we have never had any $50.00 charges for charges over $1,000.00 on a trip. Our credit limit is considerably greater than $1,000.00 and I don't understand that unless your card has a $1,000.00 limit how you could be assessed $50.00 for additional charges. Would appreciate a more concise explanation.

I wonder if the charge is for "going over YOUR limit".....whattever the limit may be.

By today's standards, $1000 limit is on the low side.

I should, as an aside, mention what happened to the friend I referred to in the original post.

He went on a trip using the Cap. One card to charge the travel expenses. While away, he attended a computer show and decided to buy some surplus equipment (he owns a small business) and ship it back home. Yes, all charged to his Cap. One card.

Need I tell you about the look on his face when he got the credit-card bill the following month? Like me, his complaints to Cap. One went ignored, and he canceled the card.

What seems amazing about this whole business model (a charitable description, I'd say) is that Cap. One is willing to give up the potential for thousands of dollars worth of purchases just to bang people with several $50 charges and then watch them cancel.

The credit card business has to be the slimiest industry in the world.

OK, to answer about the limit:

We were, after the fact, told that Cap. One "always" has an "introductory" limit of $1000 for new cardholders, even if you've qualified for a $15K limit on othe cards (which we have).

So, Giovanna, in fact we did have a $1000 limit, which was never explained to us. And indeed we were charged $50 every time we exceeded the limit. That's about as concise an explanation as I can offer.

And I have a question: Have you ever exceeded your limit on your Cap. One card? You might want to check on what happens -- is there a fee? Most other cards just decline to authorize the purchase.

I don't know how long you've owned your Cap. One card or the terms when you signed up. All I'm describing are the terms (and trickery) used recently with Cap. One.

This reminds me of a client of mine who went to Europe to do some major entertaining with their European representatives. He had just had quite an argument with VISA who previously set too low a limit and he repopened an American Express account. He confirmed with them after revealing major financial background that there was NO limit at all on the card. This was important he said as he would probably spend in the neighborhood of $100,000 on this trip. So imagine his surprise at a very expensive restaurant in Paris when his card was declined on a bill of several thousand dollars -- a most embarrassing situation. When he called American Express they said, well there isn't really a limit, but when you had just charged over $50,000 in a week we were concerned. Duh! What does "no limit" mean?

Patrick, you are singing my song! AmEx has driven us up the wall with their "concerns" over the years. We have been declined because, according to them, we had used the card "too much" in a location other than home--like, duh, we were TRAVELING!! Instead of calling us with these concerns, they just decline the charge, which as you say, is always embarassing. AmEx may not have a published limit, but their computer model assigns a de facto limit to every customer, which they enforce by simply declining further charges. For your convenience, of course.

Wow, thanks for the warning! This week I received an offer for this very credit card and was still considering it. Since I charge almost everything and pay off my bill each month, I almost always exceed $1000 in charges each month. My current cards have much higher limits and I never even come close to them. I'm sure I would have missed this in the fine print and then I would have paid some big money. I'll stick with the cards I have.

k_999_9, I'm not sure why you are singling out the Capital One card? Every credit card out there will charge you a fee if you go over your credit limit. Isn't it your responsibility as the card holder to know what your card's credit limit is?

Andrew

I still don't get it. I've had cap one for the last 5 years and go over $1000 EVERY month, pay it off each month and have NEVER been charged a fee. Also have had excellent results in using the ff miles. In fact am flying to Eastern Europe on their ff miles this spring.
Am I missing something? I check my ststement VERY carefully and as I said have NEVER been charged a fee.

What's in my wallet?

Not Capital One!

While it is amazing to me that Capital One would have an introductory $1000 limit, it is the responsibility of the card holder to know the rules. That being said, I can't imagine why anyone would want to have this card in the first place. While you won't find the details on their web site, the number of miles required for a free flight is roughly double that of the frequent flier programs of the majors plus they don't offer upgrades.

Capital One is known for their predatory credit card practices by luring people with poor credit into getting a card and then socking them with high fees.

We haven't gotten a Capital One card simply because they harass us with multiple junk mailings every week. I'm talking two or three credit card offers A WEEK from these people! No thanks.

I have a Capital One Miles One credit card, and each and every bill shows your credit limit, what you've charged, balance available. You don't have to be "told", you just have to look. I've never been declined (like Amex does) but I have had a couple of inquisitive phone calls, like when I'm booking two trips in the same month, charging to two different areas. So...I like my Capital One card (I don't carry a balance, so don't have experience with those horrible interest rates). It IS a business card, with a very high credit limit, so maybe that's the difference in my experience?

Get a new credit card and start using it with out checking something fundamental like the credit limit?

I would be too embarrassed to tell another soul.

Keith

Amex is the one that really irks me. Like patricks friend, I asked and was told there is no limit. We had been usuing the card about 4 months, charging (and paying off) about $3500 per month.

Imagine my surprise when I got declined on a $160 charge. I called and they said I had $4000 or so on the card and they had cut me off till I sent in money!! I asked about the 'no limit'. they said there was none, but they just did it according to my "habits"!!

I'm now back with the Visa Cash rewards card. They gave me a $1000 limit for the first month, after that It went up to $15000.

A few of my personal hints on CC use, especially on trips:
1. always take back up cards,
2. carry them in separate places in case of theft
3. Call your CC company and let them know where you'll be travelling.
4. verify your current limit right before you go
5. I sometimes send in an advance payment before I leave on a trip, just so they have no reason to cut me off.

I'm surprised it took this long for the "it's your own fault" crowd to show up, but let's respond:

1. Yes, the limit shows up on your first bill. That was my point. You didn't notice the limit until you got a bill.
2. My other credit cards do not charge a fee for going over the limit. They simply refuse to authorize the charge.
3. I already admitted my mistake in not noticing the small limit and the ridiculous fees for exceeding the limit. So, how many times do you want me to say, "It was my fault," before you're happy? My point was just to help others avoid the same situation. If you've never failed to read the fine print in your life, congrats!
4. Again, if you're a long-time Cap. One customer and it works well for you, good luck, I'm just explaining a recent gimmick that Cap One uses.

1. When you receive a new credit card you credit limit is usually listed right on the card enclosure. Maybe you missed it.

2. Most credit cards charge a fee for going over the limit but they will also refuse to authorize further charges.

3. Live and learn. We've all goofed up at some point in our lives.

4. Any long time Capital One customers out there?

I have a Capital One. I have a set limit. When I've tried going over that limit (unbeknownest by me at the time), the charge was declined. So no fee.

I guess it is possible that if pending charges go through at the same time, then you'd go over your limit.

I am also sure that ALL credit card companies have hefty over limit fees.

I am also sure that most, if not all, credit card companies could care less if you close your account.

This is rather odd since my understanding is that to redeem FF miles you simply multiply the cost of the ticket by 80 and the resulting number is the number of FF miles it takes. Never had any trouble with the so-called "limit" so I suggest you call the FF program and ask specifically.

K-9, it's an unfortunate experience! Thank you for warning us. I'm sure people who are using Cap1 for some time have different plans or promotions.

Just when I thought of getting another credit card your warning came in... and warning about AmEx... Oh, well...

OK, this is getting tiresome, but in the interests of educating others:

1. You're "sure" that "all" credit cards have hefty over-limit fees? Well, glory be! My Platinum Visa from Bank of America ($20K limit) has no over-limit fees. They just decline the to authorize.
2. This wasn't a case of pending charges going through. They let one charge go through, and then authorized another days later.
3. Again (groan), if you have a Cap. One card that doesn't charge such fees, great. I'm just explaining what they pulled with this particular offer.
4. "All" credit card companies "couldn't care less" if I canceled my account? You may want to check with the folks @ Bank of America Visa. When I encountered a similar situation with them, they immediately upped my limit with no fees or charges. And you know what else? If I encounter a company that "couldn't care less" about having me for a customer, I do my best to make sure they get their wish.

My AmEx card definitely has no fees for large charges. There's no limit of any type.
And they do 'care' if you try to cancel.

AmEx does have a variety of card types, and there are some types with limits and balance carriage allowances.

Ted, I think you missed the point about the limit on the Am Ex cards. My client's had "NO LIMIT" either -- supposedly. You go out tommorrow and charge a $2 million plane and the next day charge a $1 million condo on your card and then come back and let us know if you still say it has NO LIMIT! OK?

I've found that if I call the credit card company just before I travel...and give them the dates and destination(s), then there's not a problem. They know it's me charging outside of the state or country.

No Capital One here!

TOPMAN
You are correct. I just went through this for an upcoming trip to Eastern Europe and had no hassle with their ff miles.

So, what is the consensus? What is the best cc for ff miles?

I don't think that there is a "best" cc for miles.

It depends on individual spending and flying habits.

What is "best" for me, may not make sense for you.

There was a recent debate on the airline board about which card is the "best" for miles. One to take a close look at is the Amex/Starwood Preferred card. $30 annual fee waived the first year. For each dollar spent, one point is credited to your Starwood Preferred account. You can transfer points to almost any airline ff program (read the fine print though - they are not all 1 for 1 - United for example is 2 points = 1 ff mile). If you transfer 20,000 points at once, they will add a bonus 5,000 points to your ff account.

k9999, I feel bad for you but your responsibilty is to read, ask and ask again before you buy anything and in this case you purchased a credit card from Capital One. I bet you did lots of reserch before you bought your beachside condo in Florida. The same rule applies to credit cards and any other goods. Become educated consumer. I hope you learn your lesson

k-9, thanks for the warning. None of my other credit cards charge an over limit fee so I would never have thought to check. And I don't believe for one minute that most credit card companies don't care if they lose customers. It is a cut-throat business and they want all the market share they can get. There are so many different offers out there right now, trying to grab a piece of our shopping dollars that I guess they'll stoop to anything to lure us into their web! Most times the fine print is so small you have to use a magnifying glass just to read it.

Thanks for the explanation. I suspected it was a matter of going over your limit and being fined for it, no doubt explained in the "fine print." Sorry you feel you were taken, but it would seem you entered into an agreement without knowing the rules. Based on that alone, I think it's unfair of you to warn people not to use Capital One. We certainly did not have a $1,000 limit when we first got our cards. Live and learn I guess.

It seems to me what the OP is trying to say is that Capital One imposed a TEMPORARY "introductory" credit limit of $1000 unbeknownst to the OP due to the fact that he/she is a new cardholder. And that his/her actual credit limit is $15,000 (see the 7th post down). I've never heard of a credit card which imposes 2 limits (one actual and one temporary) and would never even think to ask such a question nor look for this information in the fine print. Does anyone here really read the 32 pages of terms and conditions that come with your card?

As far as Amex charge card "limits", I was told by a customer service rep that it's based on your past spending and that they allow you to charge 2 times your highest previous balance in a single statement period without question. If you know that you'll exceed that amount, then you should call Amex to have the charge(s)preauthorized. I use my Amex charge card regularly as my primary card and don't recall any declines even while traveling. I never bother to tell them that I'm going out of the country. Amex credit cards on the other hand do have stated limits.

Well, I HAD all kinds of charge cards - Macy's, JCPenney's, Shell Oil, Union Oil, Amex, Visa, Mastercard, Discovery - just to name a few.

I also had to travel a lot - 50-80% of the time, and I'd prepay some of my cards. E.g., I'd make two payments instead of one and send in two separate checks indicating which payment was for which month, since I couldn't always count on being at home when the statement arrived. Guess what? The card companies would post the payments to the month paid, regardless of what I said. So, I would come up "delinquent" for the second month!

This situation drove me nuts. The card companies always claimed it was my fault. I had to spend a good portion of my time while at home writing letters, going to the bank, etc.

So, I came up with these solutions (which is not for everyone): -

1) I got rid of a lot of the cards. All the department store, gas, other cards were scissored and eliminated. I kept three cards: Amex, Visa (Bank of America), and Mastercard (with Cap One, although when I started it, it wasn't with Cap One. What gives with this? Do they sell card accounts from bank to bank?) I pay cash for most of my needs. Good old cash for gas, etc. Guess what? It works and few problems, if any arise!

2) When going on a trip, I PREPAY my Visa and Mastercard, anywhere from $500 to $1000 OVER what I owe them, depending on the trip. The Amex does not need to be prepaid, I am very careful not to go over a certain limit that I set myself, despite the fact that it's a "No Limit" card. When abroad, I use my ATM as much as possible, knowing that there's money in the bank to back up my withdrawals.

In other words, I eliminate the occasions when the bank can stick its sticky fingers into my pocket.

Nevertheless, guess what? Even with such precautions as using credit cards sparingly and as prepaying, a recent problem arose with the Cap One card. They were NOT sending the statements, so I was charged not just a delinquent charge, but also an "over the limit" charge. The amount going over the limit increased month by month. I kept calling and calling and still no statements came to tell me where, e.g., in one month, over $1000 had been charged, when I had not used the card that much. I wrote and wrote and nobody responded, meanwhile, the charges kept being added to the balance month after month.

This situation has been going on since January 2004. The "charges" to date have far exceeded the initial balance due in January of $249! By March my balance due was close to $1500, with no way for me to verify what charges had been made. My January payment of $249 was not posted until May! Since I don't use the card much I had never bothered to increase the limit past $1200; but, at this stage, my "balance" was over my limit!

Well, today, I finally got to talk with someone who went into their computer and found out that, indeed, the statements had NOT been sent since January!! The past due fees were eliminated but they can't send me copies of my past statements because the computer wouldn't let them generate copies- groan!

I have, meanwhile, paid off whatever balance they say I owe them, just to keep the fees from being added to my account. BUT I have no idea what the charges were which drove the account past the limit. Of course, I have also stopped using the card altogether.

Have you ever wondered how come the best and grandest buildings in your downtown were owned by banks and insurance companies? Well, wonder no more!

Morale of the story: Don't use credit cards or use them sparingly. The finance companies have found a gold mine in "fees".

Patrick, I don't know what your 'client's' situation was, but I do know that there is no limit on my card. A theoretical limit is based on the card holder's spending habits and known assets. While I haven't ever purchased a house on a credit card, I have a friend who purchased a $1.2 million piece of medical equipment on his AmEx card without any fees. And if you check the Centurion Card (Black Card) particulars you'll find that high dollar purchases are not just welcomed, but expected. Centurion Card holders are expected to charge a minimum of $75,000 per year or they aren't invited to receive it in the first place.
If AmEx cherged fees and limited upper end spending for their best clients they'd be shooting themselves in the foot.

Ted, what part of spending over $50,000 on the card during the first couple of weeks it was issued and having the company decline a charge until they could talk to him do you not understand? It sounds pretty simple to me. They insisted there was no limit, but put a hold on it when he charged that much in a matter of days and they got "scared". Or are you just calling me or my clients liars? I really can't make it any clearer, and I'm sorry that the concept still seems to be over your head!

I think there are some facts probably missing from this information. What k9999 says is just wrong because I have a Capital One card and have charged over $1000 and never once paid a penny for that. I also have my original information from them, as well as the first statement, and I never had any temporary $1000 limit, even the first month. I suspect k9999 probably had bad credit or something, and that was the problem as to special limits.

I like the card fine and have never had any unusual charges. I always am given credit limits much higher than I have ever used in my life because I have good credit. They have always given me good customer service, and I like it because there are no foreign currency transaction fees and you can get cash back on all purchases (of one percent). It also has a very minimal yearly fee ($19) in comparison to most mileage cards. I only use it for cash refunds, and don't depend on credit cards for airplane tickets and don't really care about those rules very much, but I didn't think the mileage requirement was double that of other airlines, if you did care to use that (did someone say that? I'm getting confused on all these points). It's a different type of program that depends on ticket dollar caps, but I don't think they are double those of airline cards (eg, I don't think it takes 120K miles to get a RT Europe Ticket).

IN any case, since you've scared people into thinking there is a $1000 monthly limit on these cards, that is just not so.

This is exactly why I don't use credit cards (only a debit card with the VISA logo). Cash is king, baby!

Why deal with all these headaches? Have you folks ever noticed the banks are the ones with the tallest buildings? Do they look like they are in trouble and need your $50 fees? WAKE UP!!!

Ah, but my credit cards

1) don't cost me anything,
2) refund 1% of the amount I charge back to me,
3) give me assistance in case of fraud or theft
4) give me rental car and travel insurance, and
5) I get to float the amount of my purchase for about 6 weeks (earning high interest)until I make my payment.

All you get with a debit card is immediate access to your money.

Nice try. The debit card I have carries the same protection a VISA credit card carries. I've seen too many lives and marriages in turmoil b/c of CC debt. No thanks. Not needed. My parents survived just fine without them, and so will I.

Your credit limit, actually, is determined by your credit "score". Even so, you can immediately, usually, have that limit significantly increased.

Any which way, the "fine print" counts. It's up to you to read it.

Though I have my own personal significant quibbles with Capital One (and I've closed all my accounts), no matter what card you plan to use, you really do have to pay attention to all that "fine print", where nothing is actually "hidden".

Easy there, Patrick, no one's insulting your mother. Some of the comments above indicate that some people believe there may be a universal problem with this hidden limit and, in other cases, fee structures. My point is that in the AmEx case it's not a policy to limit all new customers, it's not a universal issue. What happened to your client happened, I'm sure. But if a new customer gained clearance for an expensive set of charges and the ball was dropped, I'm willing to bet this was an internal SNAFU (which no one would likely 'fess up to), not an intentional contradiction. I'm quite sure that whomever is in charge of AmEx Plat would not have been happy with the company's performance during the incident you describe.

If I had a new credit card and was about to go on vacation where I intended to use the card I would have contacted the CC company to verify what my limit was. Nearly all the cards I have ever had allowed me to go slightly over the limit and then charge an over limit fee so better to be safe then sorry. I am surprised that the limit wasn't clearly indicated somewhere whether it be in the introductory offer or when the card came in the mail.

There are a great amount of misconceptions and almost-truths on this thread.

bmillersc is almost correct. Take notice of the movers 'n' shakers in the world and do what you can for yourselves and your families by investing in real estate. No matter the size of the investment you make.

k_999_9 is correct. "hidden" in the fine print.
For every card in everyone's wallets : Your cardholder's agreement can be revised at will. The revisions are mailed to you with your statement. Most people do not read them. Same as your mortgage docs. Have you read them, yet?

There are several tiers of cards granted to customers. Not only gold, silver, platinum, diamond, etc. Internally, we use software models, incomes, FICO scores, (and more), to determine eligibility and to determine layers of benefits.

If you're planning on making a late payment, watch out for the default rate(s) on your card(s).

Anybody in business who has customers cares about their customers. You know this is true. Due to quotas and other internal promotions, there are times during the month/quarter that a CSR on the phone may sound apathetic to a cardholder. This is one reason why we record the calls.

Yes, a person can spend millions on a card while another is limited to, say, $35,000.

I work in credit.
If you'd like to ask me a clearly stated question I will be able to post answers to questions when I return to work Monday, October 4th.
I'm on vacation now and was searching for something else when I found this thread. It's after 2a.m. and you can appreciate that after firedancing and rum that I'm beat tired - here in paradise.

Ha bmiller: wine has ruined so many lives..do you think people should never have a drink?

mortgages have caused some personal bancruptcies, so would you only rent?
Sex has caused... well, you know what I'm saying.

Responsible use is always the key.
Just because you and your parents are not willing to trust yourself with credit cards doesn't mean they are bad.
you only got 1 of 4 benefits listed above. Getting 1% back of all I spend would be great. Which card do you have lcuy?

I don't get some of the above problems. k9999, do you charge more than you are able to pay in the end of each month? Why?
I agree with got2travel2 <Responsible use is always the key>

We paid in full EVERY month for many years since we got our first credit cards. Never had any problem!

In defense of Capital One - most of the posts above who've had complaints don't pay off their cards each month, and/or didn't bother to know their limits. Knowing your credit limit - which is NOT in the fine print - it's right there next to the card when you get it - seems like a pretty obvious thing to do. I know I don't read all "32 pages of fine print" - actually it's only about 6 pages, but still. But I certainly always know my credit limit.

My capital one card has allowed me to fly on any airline I choose on any date I choose. I don't have to think about blackout dates or worry about certain airlines going under. Last summer I flew to Italy for free - all I ever did was charge my usual purchase like groceries, gas, cabel bill, etc for a few years and I got a free trip to Europe. I think that's a great deal.

I've also made use of extended warranties on cameras, used the VISA car insurance, etc. There are many advantages of charging as many of your regualr purchases as possible.

If you can't control your spending habits, and can't be bothered to understand the terms of credit cards then by all means do yourself a favor and use cash. But for the rest of us, responsible use of frequent flier miles cards like the MILES ONE from Capital One is a great deal.

bmillersc said:
"My parents survived just fine without them, and so will I."

Congratulations, it's nice to know some people couldn't care less about "modern" things and improvements. I'm sure along with that you are fine with an oven that doesn't self-clean; automobiles without power windows, automatic transmission, or power steering; no TV, VCR, DVD, or cell phones; no computers (I'm curious how this post appeared here without one, though) -- should I go on?

I think it's fine that since credit cards are too complicated for you and you can't trust yourself to use them, that you avoid having one. That's very smart of you! In my case, I use one that gives tons of benefits including a number of free trips to Europe, Asia, and Australia/New Zealand so far, charges no fees of any kind ever (since I was able to figure out how to avoid them), and lets me keep my own money for up to six weeks longer as someone above noted. Yes, it takes a little bit of smarts to figure out how to do that, so if someone doesn't have those smarts, they are best not trying.

But I'm confused by your comment that seems to have some hidden meaning about the banks having the tallest buildings. Who owns the ATMs?

By the way, bmillersc, you've shown your complete lack of understanding when you say "cash is King, baby" and then talk about your debit card protection. Clearly you don't even realize that using a debit card is NOT the same as using cash!!

Different strokes for different folks. I'll do things my way, thank you very much.

Patrick, try decaf every now and then.

Why has this turned into a cat fight? It is apparent that credit card limits and regulations depend on one's circumstances, proven by the people who have responded to this post swearing that they have never been charged for exceeding their limit.

So enough already!

I can't imagine not having a credit card... if for nothing else than just for emergencies. My parents, for example, have a credit card and hardly ever use it, but there have been a few instances when it was the only way they could pay for something (they aren't wealthy and don't have much in savings). I think a credit card offers good peace of mind.

And you really can't beat the 1% return that some cards offer... I made over $200 just from using my Discover card last year. (And I pay it off completely every month.) That's a plane ticket!

got2travel2,

There are a lot of cash rebate cards out there.

The one that I use is the Citi Dividend Platinum Select card. It gives you a full 5% back on grocery store, gas station, and drugstore purchases and a full 1% back on all other purchases. There's an annual rebate limit of $300 though which is pretty easy to hit. I use it as my secondary card after my Amex as the annual rebate limit is too low for me to use it as a primary card. For every $50 you earn, you can request a rebate check, you don't have to wait until the end of the year. Up until last month, I was getting a flat 2% back on all purchases but they finally pulled the plug on that offer.

I believe the Amex and Discover rebate cards have a tiered rebate % (as opposed to a full flat % rebate with the Citi program), and your actual % is based on your total annual spending. You'll want to read the offer details carefully to make sure you understand the difference. I don't know if these cards have an annual rebate limit.

Patrick, lcuy, E: I, too, have an AMEX card with no limit and have had it since 1976. It's creepy the way they "track" you!

I always call before I go on a big trip or out of the country but recently I drove back home from a lengthy vacation in Southern California and got that tracking thing once again.

When I checked into a hotel near SFO, the clerk said AMEX wanted to talk to me. The AMEX rep said they were concerned because my card showed so much activity for one day - they wanted to make sure it was really me and asked a bunch of personal questions while I'm standing there in the check-in line.

They have also done this when I've purchased furniture or appliances - I guess my "model" is that I hardly ever shop. Yet they let me charge my $25,000 car several years ago without any kind of checking at all!

I never know when I'm going to be embarrassed by a sales person saying "The credit card company would like to talk to you . . ." It would be nice to think they're acting in my best interests but they are really not since I would only be liable for $50 had there been a theft.

gualalisa, don't be embarassed. As a "cashier" I get this all the time, and never think anything less of the customer. Also, when cards are declined, if the customer seems very surprised, I offer to run it through again. More often than not, it is approved! (One caveat, my sales are usually under $100)

I pay for everything that I possibly can with my AmexP (I also have Citibank AA mastercard for those that do not accept Amex). It is a great way to track your spending, and I always pay the entire balance when the statement comes due. I NEVER carry a balance. It just doesn't make good sense NOT to use a credit card IMHO. How else to you track your spending?
I also pay these cards on-line with my bank, and make the payments the day they are due. I currently have enough skymileage to make 5 free domestic flights (not to mention the many flights I have already made).

Also, how do you rent a car with a debit card? Do you realize that they place a hold on several hundred dollars from your account? Not smart if you only have a debit.

Thanks, Joan. I always feel like I'm a wanted criminal or something or that I've been called into the principal's office. I have to answer all these questions and then hand back the phone to the clerk - makes me feel like a little kid!

I agree that you should pay off your CC every month if you possibly can. It cracks me up when people spend so much time looking for travel deals or sales and then let their balance ride while the interest piles up. If I can't pay it off, I don't spend it.

But you really do need a couple of credit cards in today's world - I do like AMEX for the way it has gone to bat for me when I've disputed a charge, for instance.

Interesting. I was thinking of applying for this card so I brought the info to work with me today.

The disclosures statement on mine says that the minimum credit line is $5,000, but then the "Offer Conditions" section says that the credit line will be determined after the application is approved.

The APR after the introductory period is 13.9%, which doesn't seem all that fabulous. I don't know--I mostly use American Express, but for travels abroad would prefer to have a VISA. I thought this offer looked pretty good, but now I'm all confused. . .

My capital one is fine but has an over limit charge just like my other cards. THe thing that does bug me is the way they calculate average daily balance. Doesn't look like they give you the usual float. The limit is really high though so if I was to go over, hmmm how would I pay it at the end of the month?

My rate is 4.9% fixed elle, I would not accept such a high rate. eek!

Suzie, is yours the Go Miles card from Capital One? That's what this offer is for. I think the miles cards usually have higher APRs than others.

I'd love a 4.9% fixed rate! And while my credit rating is good, I've never had anybody offer that to me! Bummer.

You are right elle, mine is not a mileage card.

Just saw online the go miles Capitol one card with a 11.9% apr. Minimum credit line of $5,000. Hmmm..... Like the fact you can travel with only 9,000 miles. I've considered this card myself?