Capital One - Platinum Visa Review

I've owned the Capital One Platinum Visa since 2004, starting out with a very low credit limit and though my credit numbers have increased greatly since then, not once have they ever increased my limit. The interest is significantly lower than my other cards, but the overage charges are outrageous. $40 if I'm so much as .01 over the limit. And there's absolutely no notification when you cross that line. Other cards just cut you off when you reach that line, but this one will let you continue and notch up fees in the process.

While I appreciate Capital One for taking a chance on me and giving me my first credit card to help build my credit up, I really can't recommend it to anyone. I'm paying this card off as soon as I possibly can, not only because I'm trying very much to extricate myself from debt, but because it has no rewards and no real perks. To their merit, during this tough financial time, they haven't been one of the credit institutions that have gouged the hell out of interest rates. As far as I can tell, mine have remained the same. Too high, but not nearly as terrible as some department store cards. If you're looking for a low interest rate and flexible spending, try the Target Visa Card. They're pretty easy going.