Results You Can See For Yourself From Capitol One Credit Card

by Andy Zain

I know you’re probably skeptical, right? Capitol One has been named in Canada’s top 50 Small and Medium business employers. Their corporate motto could be stated as, “What’s important to our customers is important to us”. They offer a credit card for every level of credit from no credit to excellent credit. They are always looking for new ways to serve their customers. Why not check out a Capitol One credit card?

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.

Second we’ll look at those whose credit needs to be established or re-established. If you’ve never had credit, such as credit card, loan or line of credit. If you’re new to Canada or have recently had credit problems, possibly even bankruptcy, then this is where you fit in. You can still get a credit card from Capital One. You may be required to pay some security funds, but you can still get a credit card to help you build your credit, and reward you for good credit behavior.

Now, if your combined income for your household exceeds $30, 000. 00 and having ongoing credit for at least six years. If you’ve made all your payments on time in the last three months, and your credit has remained stable for at least nine months. If you can add to that, seven years default free, then you have “good credit”.

If you want to reach for the category of “excellent credit”, here are some good first steps. Obviously you can’t have had any defaults in the last seven years, and you must have made all your payments, and made them on time in the last six months. If you can meet that, and you’ve had credit for the last ten years or more, with no changes to your credit situation in the last nine months, you’re almost there. The last thing you’ll need will be a household income in excess of $40, 000. 00 per year. The good news is if you can’t quite reach the Excellent category, but reaching good was a breeze, there appears to be a category in between called “Excellent and Good”. You need ongoing credit for a minimum of three years, with the standard no defaults in seven. If your household income exceeds $30, 000. 00 and you’ve made all your payments on time in the last three months, congratulations. You’ve made it.

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