Being able to successfully juggle credit cards with high rate of APR is one of the least known but more effective ways of improving your credit rating – so long as you don’t run into trouble with repayments and don’t default, having a card with a super high APR can be advantageous for you when you want to make that big loan or mortgage application in the future, as it demonstrates your ability to handle your finances well.

The Capital One Classic Card is a card primarily used to for high street and online purchases – the rate of 34.9% APR includes balance transfers, not exactly ideal for paying off existing balances. The Capital One Classic Card comes with a ceiling limit of £2,500, and no annual fee and is therefore ideal for students and younger earners aged 18 or above who want to start building a good credit reputation for the future.

Having said that, Capital One’s Classic Card is ideal for anybody who wants to improve or rebuild their credit rating – making small purchases, staying within your credit limit and paying everything back on time using the Classic Card will guarantee marked improvements in your reputation after 6 months.

As well as being able to pay for purchases online, you can also easily manage your finances online by downloading and printing out your own statements, should you wish to not receive statements in the post.

This entry was posted on Tuesday, September 9th, 2008 at 9:40 am and is filed under Budgeting, Credit Cards, Credit Ratings and Reports. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.