Be careful what you wish for (sorry - replied to Alpern but this is for Paulo)
Keep in mind that Capital One is among several issuers that used to be considered a sub-prime credit card issuer. The comapny has a history of derogatory credit policies, high interest rates, and stiff penalties should payments not arrive prior to the due date. In fact you may be opening up a bigger can of worms than you think due to your lack of credit history as many of the card issuers conduct regular credit checks and if there are any problem indicators based on the issuers criteria, you can expect them to impose the higher 'penalty' interest rate and conditions regardless of your history with that specific card issuer.
Here is an offbeat but straight forward example - say one of the many 3rd party collection firms or junk debt buyers runs a scan of credit files and your name matches that of a person who is currently delinguent on an account they are trying to collect. Now there are laws that prevent this but it is very possible that the collection agency might start calling/mailing you in regards to that account and worse yet, incorrectly report to the credit reporting agencies that you owe this obligation and are seriously past due on said account. Obviously this account is not yours but you know what, while the data is admittedly innaccurate, if you are not aware of this item and your card issuer (Crap One in this case) runs a credit report, they can, will, and have imposed higher, penalty interest rate due to the negative items that appear on a credit report. On a related note, it is said that once MBNA (another card issuer) imposes an higher interest rate ending with a .98 or .99 - you are int he penalty box for the rest of the time you do business with MBNA.
¯\_(ツ)_/¯
Keep in mind that Capital One is among several issuers that used to be considered a sub-prime credit card issuer. The comapny has a history of derogatory credit policies, high interest rates, and stiff penalties should payments not arrive prior to the due date. In fact you may be opening up a bigger can of worms than you think due to your lack of credit history as many of the card issuers conduct regular credit checks and if there are any problem indicators based on the issuers criteria, you can expect them to impose the higher 'penalty' interest rate and conditions regardless of your history with that specific card issuer.
Here is an offbeat but straight forward example - say one of the many 3rd party collection firms or junk debt buyers runs a scan of credit files and your name matches that of a person who is currently delinguent on an account they are trying to collect. Now there are laws that prevent this but it is very possible that the collection agency might start calling/mailing you in regards to that account and worse yet, incorrectly report to the credit reporting agencies that you owe this obligation and are seriously past due on said account. Obviously this account is not yours but you know what, while the data is admittedly innaccurate, if you are not aware of this item and your card issuer (Crap One in this case) runs a credit report, they can, will, and have imposed higher, penalty interest rate due to the negative items that appear on a credit report. On a related note, it is said that once MBNA (another card issuer) imposes an higher interest rate ending with a .98 or .99 - you are int he penalty box for the rest of the time you do business with MBNA.
¯\_(ツ)_/¯