Capital One was founded by Richard Fairbank and Nigel Morris in 1988. Capital One Financial Corp’s primary focus is on consumer cards, home loans, auto loans, banking, and savings products. Capital One was one of the first charge card mass marketers starting in the early 1990s. The Capital One Platinum Preferred business card is an excellent choice for any consumer.
Capital One is one of the strongest credit card companies on the market today. This card provider has many features that customers can take advantage of. The most enticing feature that the Capital One Platinum Preferred business credit card has to offer is its introductory rate. New cardholders will be happy to take advantage of 0% APR on purchases and balance transfers until 2010. That gives new customers one year without having to pay interest. This credit card is an excellent choice when transferring a balance from one card to another. Transfer your balance from antoher card If you are paying a high interest rate. Someone with a $10,000 balance being charged 18% will save $1800 by transfering their balance to the Capital One Business Platinum Preferred credit card. If you are planning on making a large purchase you will have the opportunity to pay it off in a year.
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The world of credit scoring can be quite confusing. There are three main credit repositories and each one has their own scoring system. One type of score (and the main one being used today) is called the FICO credit score. This stands for Fair Issac Corporation. Using this score helps the lender determine their risk if they lend to a particular borrower. Many lenders rely heavily on credit score alone, so it is vital that people work to improve their score as much as possible.
How do I get a good credit score?
The question of how to get a good FICO score is hard to answer these days as banking and mortgage regulations have changed dramatically in light of the current economy. Until recently, any score over 700 was considered to be excellent. These days, however, regulations have tightened. Now, anything over a 750 is considered to be top notch credit. Because of the ever changing economy, this number is subject to change again in the future.
What factors affect my credit score?
A person’s FICO score is based upon many factors including their payment history, current available credit and how much they owe at the current time. A person’s payment history and amount they owe makes up about 65% of the score, so those two items are extremely important in the calculation of the FICO score. Also, the payment history portion alone makes up about 35% of the total score. If you are trying to improve your score, you need to keep that in mind so you know where to focus your energies.
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You’ve made some unwise financial decisions, lost your job, or have had medical expenses. You were late with loan or mortgage payments and now your credit rating is bad. You want to repair your credit, but what’s the best way to do this? Can you do this on your own, or is a credit repair service a good option?
A quick Internet search for “credit repair service” yields 13 million results. It is a big business! But what exactly does a credit repair service do? The claims can seem too good to be true. A credit repair service typically asserts that if you need good credit to buy a car or get a mortgage, the service has insider techniques for erasing bad credit. But the sales pitch is very carefully worded. They say they can help resolve questionable items, or clear up inaccuracies, or eliminate costly errors on your credit report. All at a low, affordable fee.
The Federal Trade Commission
Fortunately, at the very top of your Internet search result is a website you can trust: the U.S. Federal Trade Commission. The FTC is blunt: they say that you should save your money because most credit repair services are scams.
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