I am so thrilled! I am 31 years old and destroyed my credit along with many others in my generation who went to college in the early 2000's. I was offered credit cards galore, didn't really understand how to use them responsibly, and before I knew it was in over my head. The stature of limitations has long since run out on these cards that I never paid off, and many of the banks who lent them to me no longer exist (Providian bank, for example). I am now a very responsible consumer who lives below my means with no debt aside from student loans. I have been paying those diligently for over 2 years and have seen little effect on my credit score. I was getting depressed about it until about 4 months ago when, to my shock, I was approved for a Capital One Platinum card with a $300 limit! I have been paying it off in full every month since, and lo and behold, my credit score went up 19 points! Today I decided to go ahead and apply for this card, and to my suprise, I was approved for a credit limit of $1000 with 0% apr until March 2013, despite my credit score of 589. I am beyond thrilled, as I am now confident that continuing to pay my balances in full every month, coupled with my student loans, my credit score should be above 600 by this time next year. I hope to have it in the 700 range within 2 years and finally not feel ashamed of my credit score. It is so true that paying your bills on time is the absolute best way to re-build credit. I am grateful to Capital One for giving me a chance to prove myself.
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