Credit Cards

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Tuesday, December 04, 2007

Added New Business Credit Cards from Capital One

Capital One®
Capital One®
Two new, Capital One® business credit cards have been added to this website. The cards are:

  • The Capital One Visa® Business Platinum
    with No Hassle CashSM Credit Card
  • The Capital One Visa® Business Platinum
    with Preferred No Hassle MilesSM Credit Card

I like these two cards. They each have a strong rewards program, and with both you get 0% intro APR on new credit card purchases for 12 months.

I also very much like the fact that Capital One doesn't play the universal default game. Considering how many banks play "follow the leader" with their terms and conditions, Capital One should be commended for not jumping on the universal default bandwagon.

Both Capital One cards listed above include the following in their terms:

"...We do not engage in a practice known as "universal default." Universal default permits a credit card company to increase your APR's solely because you fail to make a payment on a loan with another lender or your credit history contains other negative information. If we increase your APR's for any of the reasons disclosed above, we may review your credit history to determine (a) that we should not increase your APR, or (b) the level of the increase, if any..."

Other leading banks, including Citi®, are moving away from universal default, so perhaps the practice will be eradicated from the credit card industry at some point in the near future.

If you find universal default particularly irksome, you can always contact your Representative in Congress and/or your state's Representative in the Senate and let them know how you feel about it.

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