Capital One
Secued Credit Card

Well, I cancelled my Capital One secured card account in frustration because after ten weeks from being "instantly" approved I still had not received my card. I had plenty of time to shop around and found that most banks will give you a secured card with no annual fee (compare to the $59 annual fee Capital One charges). Also, Capital One does not pay interest on your security deposit, whereas banks will. Most banks will automatically give your security deposit back when you qualify, C1 won't. After wasting ten weeks waiting for C1 to get me a card (everything goes through snail mail, it took a month just for them to send me a letter saying how to send my deposit, it took 2 weeks for my money order to clear...), I cancelled my account before I even got or activated my card because I read so many horror stories on the internet about people not being able to close their accounts etc, and they said it will take two months before they will even send me my deposit back. I said I wasn't surprised. I would recommend not going through Capital One for a secured credit card; go through one of your local banks!

Company: Capital One
Country: Canada
Province: Alberta
City: Calgary

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