I stand corrected!!!

You have had to own a credit card etc for 10 years
And... they want good credit for the last 7 years. They probably say seven years because they're taking into consideration bankruptcies which stay on the credit report for 7 years.

I didn't say it was an easy card to get, but it's certainly alot cheaper....

I'm sure the TD Emerald is going to be the same... they'll be pretty strict as well.

Monty,

• You've had open credit such as a credit card, loan or line of credit for more than ten years

• Your credit has been excellent for the last seven years (this means no bankruptcies and no defaults on credit as a result of failing to pay debts back to creditors)

• For the last nine months, your credit situation has remained the same (this means you haven't opened a new credit card account, loan or line of credit)

• You've made at least your required minimum payments on your existing credit on time in the past six months

• Your household income is more than $40,000 a year

http://www.capitalone.ca/canada/credit-card/platinum-mastercard-5-99/?external_id=WWW_ZCMPR_ZPR_ZZZZAF_ZZZMA_ZZ_ZZ_T_ZZZZ

hey average_joe...more accurately, you need to have good credit for the last six years... which is the time frame that equifax and transunion report on.

All credit card companies will require very good credit to obtain these low interest rates..

Agreed... if you don't make your payments on time, credit card companies tend to increase your interest rates as it reflects your credit worthiness.

To get this capital one 5.99% card; you have to have good credit for the past ten years. If you’re late with a payment they have the right to jack up the interest rate.

I found this question on answers.yahoo.com

Currently, Capital One's lowest interest rate credit card is:

Capital One - SmartLine™ Platinum MasterCard
The lowest long-term rate of 5.99% on purchases and balance transfers guaranteed for 3 years (as long you pay your bills on time)
After that your rate will stay low and become a variable rate of Prime +3.75% on purchases and balance transfers (Prime is currently around 2.25% as of December 2009) This card has NO annual fee.

After a quick search, I found the TD Emerald visa has an interest rate that can fluctuate from TD Prime + 1.9% up to TD Prime + 6.9%
This is based on your credit rating... You'll need to have very good credit to get the Prime + 1.9% rate.. The TD Emerald visa does carry a $25 annual fee... which wipes out a bit of your interest rate savings.

Are there lower interest credit cards in Canada other than Capital One?
I recently attempted to transfer debt to a Capital One Prime +1 card and was turned down. Is this a blessing in disguise? I've heard there is a downside in that Cap One tries to keep its customers from getting cherrypicked by other credit providers by not publishing their cardholders' credit limits, only the debt they're servicing. This gives the appearance of bad credit to competitors. Is this the only downside to these kinds of cards? Should I try for Capital One's Prime +4.9 when I'm eligible to reapply?
http://answers.yahoo.com/question/index;_ylt=AlIQToIYgH1t0ufK0hOw2kMjzKIX;_ylv=3?qid=20070514183522AAtnR38