is capital one master card any good?

[ashleyw09]

i want to build my credit and capital one is the only card that accepted me... its a simple 200$ limit should i keep it...?

[Judy668]

What a perfect way to build your credit.
Now here are a few things you must know:

- Anytime you use more than 20% of your available balance you will be reducing your credit.
- Maxing out a card will devastate your credit worthiness.
- Employers and car insurance companies check your reports - keep them in good shape or get bad jobs for a lifetime.
- Don't ever close that account - you have just established "length of credit history" which is 15% of your fico.
Only close it if they start charging you an annual fee - it's never worth it.

There is only one way to get top scores.
Use your card - just a little - and pay in full each month the day the bill comes in the mail.
Anything else will harm you, and possibly mess up your future.
This way you never pay interest either.

Don't mess up your future - use credit wisely - don't let it use you.
Careful with it.
/

[sassy25183]

Yes it suits your needs. Do not put more than 100 on the card. Pay in full each month.

[isma2012]

Well you should read your terms and conditions, before you begin to charge the card and use it find out
*the interest rate, make sure your APR are not above like 20% that is usually bad but because your just starting your going to be considered a risk that is probably the reason your credit limit is so low
*Make sure that they don't charge you some kind of annual fee for the card as well, cause there are some of their credit card products that will charge up to 80 dollars every year on your credit card for just having open and active.
If you want to build your credit make sure you are not charging this card to the limit, the credit reports all 3 of them make ratings based on your balance with them and your payment history so pay your minimum payment every month, always try and keep at lest 75% of whatever credit limit you have available. Example if you have 200 keep 130 always available on your card that way your credit builds to be good and not bad credit.

[RailBird]

Judy's answer is dead on, as far as it goes. But there is another question in here today headlined "Capital One is Suing Me...." by Willow and you may want to read the answers to that question before using the Capital One card.

You know those Viking pirates they have in their commercials? If you are late paying and their collectors start chasing you, you'll wish they'd sent the Vikings instead.

[MyTakeonIt432]

At this point, Capital One is probably the only issuer who would give you an unsecured card.

Keep it, but use it wisely and do not go over the limit, make late payments or default. Capital One is aggressive when it comes to going after those with these small limit cards who default.