Capital One prepaid credit cards can be obtained through many different outlets including banks and other reputable lending institutions, online, at kiosks in grocery stores, and through community service programs. They are a great way to build credit by building your credit history with the use of a credit card. They offer rewards as well as incentives for using the card. It is also possible to get other types of rebates as well as discounts through cash back programs that are offered on purchases at restaurants, gas stations, drugstores, and other merchants. This type of card is ideal for those who want to get their first card without a lot of extra cost.
The card earns points based on the purchases you make and the amount of money you spend. When you reach a certain amount of points, you can redeem them for gifts or merchandise. This means that the more you use the card, the more opportunities you have to earn rewards and rebates. You can get up to two percent off on gasoline, two percent off in addition on services (such as haircuts and massages), and up to five percent off on groceries. In addition, you are able to receive a percentage off food purchased at more than one restaurant on your card.
One important note: When you apply for a Capital One prepaid credit card, it will not change your credit or loan history. This means that if you choose to apply for another card from another company, the information you have on one card may not appear on another. The same is true when you choose to close any accounts you may have. If you do this, they will disappear from your report and you will be required to begin building a new history from scratch.
There are also other perks associated with this card including discounts when dining out, and when taking trips to local destinations. As an added perk, these cards come with zero interest for twelve months after you have met the account requirement. However, you have to have an active checking account. You also have to make sure that you pay off your balance every month. These cards are perfect for those who do not want to get into debt and who want to develop a solid record of living beyond their means.
If you have been a long time student and have been denied a regular card because you have a bad credit rating, then Capital One Prepaid Credit Cards are for you. This card has been specifically designed for college students by Capital One. It is accepted at all of the establishments where major cards are also accepted. The card has no annual fees, so there is no financial burden even during the prepaid period. You are still responsible for paying your balance, but at a reduced cost since it is prepaid.
All things considered, it is easy to see how . . . . . . this card has made life easier for many people. The only disadvantage is that this card comes at a cost and with a higher interest rate than other cards. But for the purpose of convenience and reliability, it can't be beat.