Capitol one credit card

Richard Fairbank and Nigel Morris founded Capital One Financial Corp in 1988. Presently Richard Fairbanks is the CEO of capital one while Nigel Morris is President and COO of the company. Capital one is one of the largest issuers of credit cards in the United States. Capital one credit cards are issued in UK also and are valid all over the world. It is listed on the New York stock exchange. Capital one is company specializing in credit cards, home loans and auto loans.

In March 2005 Capital One acquired Hibernia National Bank for $5.3 billion. Hibernia National Bank was launched in 1870. It was a personal banking and commercial lending institution with its headquarters in New Orleans, Louisiana.

The deal for the sale of the bank was to be completed by end of Sept of that year. However the age-old adage man proposes and God disposes held true as hurricane Katrina hit New Orleans and devastated the city. New Orleans was Hibernias head quarters and also the place from where they got their maximum business. The result was that Capital One agreed for a reduction and decided to take a lower price at $ 5 billion. In Nov 2005 Capital One financial Corporation replaced Hibernia by its brand name on April 24 2006.

Hibernia was the largest and oldest bank headquartered in the state, and also had branches in Texas, Mississippi, and Arkansas. This deal gave fillip to capital one standing in the national credit card scene.

Capital however did not rest with this acquisition and soon bought North Fork Bank. This is an American bank with its headquarters in Melville, New York. The bank had over 350 branches and nearly $60 billion assets.

In March 12, 2006, Capital One purchased North Fort bank for 14.6 billion U.S. dollars. After the acquisition and merger the bank was renamed as "Capital One Bank".

Capital One financial services is not only a leader in the Credit card business by providing MasterCard and Visa credit cards for the general public, but In addition it also caters for auto, home, and medical loans.

A credit card as we all know is apiece of Plastic that gives you credit up to a particular limit. Generally people who opt for a credit card keep a few things in mind like low interest rate, rewards and credit limit. Sometimes you may need a credit card just to establish your credit. Keeping the above points in mind Capital One cards can help you. This company has a wide variety of credit cards from which you can make a selection. Whether you are looking to rebuild your credit history or wish to enjoy the benefits of a credit card, Capital One have the card that can fit almost all your requirements.

Capital one has credit cards that suit all types of people with good or bad credit. For people with good credit there are 2 Platinum cards. They are the Prime Platinum cards and rewards back platinum credit card. Both these cards are for those people who have an excellent credit rating. In addition they have a low Apr interest at 17.9 %. Both these cards charge no Annual fees and they do pander to your ego in that you can have a credit card design of you own choice. Another sop for the customer is a 0 % interest for balance of transfers till 1st Jan 2008. Capital credit cards in UK can give you a credit limit up to 25000 pounds.

If your credit is good Capital can offer you the prime Platinum Master card. This card has no annual fee and again you can opt for a card design of you choice. For customers who wish to strengthen their credit there is the Gold master card. It charges you 9.9% on you purchases till May 2007. This gold card has a low annual fee of $ 59 and again you can opt for a design of your choice for your card.

However if you credit is fractured or you wish to rebuild you credit then capital one offers the Secured master card This again has a low interest of 19.8 % and an annual fee of $ 59. This is an excellent credit card and a boon to people who cannot get a normal credit card. All the cards are backed by excellent customer service 24 hours a day, 7 days through the week. To get a secured master card all you need is secured funds for only $ 75 at the minimum. Capital one cards can be applied on line as well. The Capital One credit card online system allows you to compare current Capital One credit card deals with other cards. Alternatively you can compare other leading Credit Card providers by going on the net.

Capital one is one of the nations largest credit card issuer. But despite its publicity blitz there are some things that Capital has to explain to the American people. The Minnesota state attorney generals office in Jan 2005 has sued capital one claiming it is misleading consumers with promises of fixed interest rates. The suit claimed that despite the so called fixed rates Capital one in some cases had hiked interest rate by as much as 400 %.

It is alleged that while the firm markets credit cards as having the nation's lowest fixed rates, rates can and often do change. In fact, an overnight rate hike hit 40 percent hit Minnesota residents who had signed up with a Capital One card, thinking their rate is fixed. However the firm maintains any interest rate increase is solely the result of consumer payment history with Capital One. So capital one follows the carrot and stick policy rewarding those customers who are diligent in their payments while increasing interest rates for those that are delinquent.

There is no doubt that capital one Credit card has blazed a trail across the nation. Their marketing of their cards is innovative and dynamic. This won for Capital One the Wharton Infosys Business Transformation Award. The award was given specifically for marketing their credit card products. Consumers may consider taking a Capital one credit card but do compare and satisfy your self to all terms and conditions. In other words read the fine print.

Next Article

Banner Ads