Is there a personal financial information consortium?

I’ve been shopping around for a no fee platinum credit card for a while because I want to have access to some of the extra features, namely the free car rental insurance. In doing my research I found these sites useful:

I was pretty disappointed to find out that the Capital One 1% Cash Rebate card doesn’t seem to be offered any more. Finally I decided to just go with the Captial One No Hassle Rewards card. I need to keep in mind that the point of this card isn’t for the rewards, it’s for the extra features.
I applied online and after filling out the detailed application, I was really surprised that the next step was a quiz of sorts asking me a bunch of multiple choice questions on my personal and financial history that only I would know the answer to. For example, which city was I living in in 2005? And have I ever lived in an apartment building or condo? This kind of weirded me out a little. I get that the idea is for security measures, but what I would like to know is where this information is stored? And how does Capital One have such easy instant access to it? It must be instant access if it can generate a bunch of multiple choice questions for me right when I decide to fill out an online application.

After I finished the quiz, the next screen said Congratulations! You’re approved. and that I should get my card within the next week or two. Seriously? They can approve it instantly? That also surprised me. Doesn’t an actual live person have to like at least look at my application and check my credit rating? Or is this all done instantly online?

Oh well, at least I got approved. I was a little nervous that I would get declined because they make it sound like it’s such a big deal to get a platinum card, like you have to have EXCELLENT credit and all that jazz. Except it was just so easy that now I’m wondering if they’re just going to turn around and be all ‘oh actually we reviewed your application and you don’t qualify. application DENIED!’ I guess I’ll find out soon enough.

P.S. The hardest question to answer in the application was which picture I wanted on my card. I loved that I got to pick one but couldn’t decide which one I wanted!

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1 Response to “Is there a personal financial information consortium?”


  1. 1 Emm November 19, 2007 at 1:40 am

    thanks for the comment! and i’m sorry for the delayed reply.i’m grateful for the lessons learned!

    i’m gonna add you to my links=)


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