Capital One - VISA Review

Capital One commercials flood the television networks, so most everyone has heard of them.  Thanks to his ex-wife, my husband's credit is in shambles, so after carefully paying down all of HER debt, I encouraged him to start building up a credit history again.  He applied for a couple of different cards, but with the recent credit crunch, no one would give him a card.  He finally applied for a Capital One Visa and they did approve him, with a very small line of credit, which was fine as he is only going to use it for small purchases and pay it off each month.  What I was disappointed in was the extremely high APR (over twenty-three percent! Highway robbery!) and the extra fees that they will punish you with if you are a day late with your payment.  Not a problem if you pay on time, right?  However, when he paid the card online from his checking account, it took Capital One three days to electronically process the payment.  That's crazy...electronic transactions are processed immediately with every other company I've dealt with.  I can't help but feel this is a way for them to try and make you late on your payment so that they can bump up the APR even more and charge you extra fees.  I would only get a Capital One card if no one else would extend me credit, and once I had a good history would cancel it.