Capital One Cards
- Capital One Cards:
Capital One Financial Corporation is a multinational bank holding company headquartered in Virginia, USA. It was founded in 1988 by Richard Fairbank and Nigel Morris formerly of the Signet Banking Corp. Since inception, Capital One had stuck to consumer lending unlike other diversified financial services companies. By customizing its services to meet the needs of potential customers, Capital One experienced rapid growth as a successful financial services company. In 2005, Capital One decided to venture into retail banking after it purchased Hibernia National Bank. It acquired North Fork bank in 2006. Capital One specializes in consumer lending especially credit cards, personal loans, and retail banking to customers in the subprime market. This is considered more risky business and Capital One has often been criticized for issuing low limit cards to customers resulting in multiple defaults and late fees. In 1996, Capital One launched its first office in Ontario, Canada. This subdivision is strictly in charge of issuing credit cards to Canadian customers.