does anyone have an opinion about sending a capital one statement to the CRAs to show the credit limit amount?
I've been thinking about doing this as well...particularly since my TU score is low due to Cap One and others not reporting the cl. Only thing is, I've heard that when the creditors update every month, it will go back to $0 L
Please explain how having the Capital One credit limit detailed on the credit report might improve one's score? Would a lower credit limit lower one's score? What would be considered a good credit limit with Capital One to report to the CAs? Hawg Hanner
If you have a 6K credit line and are using $1,200, you are only utilizing 20%...BUT...if $1,200 is the highest amount you have ever had on your card that has reported, then it is showing 100% utilization. This dramatically lowers your scores. I suppose if you are around 100% utilization anyway, then it wouldn't help or hurt you to have the cl reported. L
Hmmm.. I guess I will try it out to see what happenes.. if that doesn't work.. I will charge to the limit.... just tryign to figure what I can buy for 1500 that I could easily return.. I hate that I have to do these things for a fair accurate score.
Here's another easy way to make your limit post. Every once in a while I receive convenience checks from Cap1 that you can use at your cards purchase rate. Just wait until a about a week before your cycle closes an use the check for your limit. Pay it off shortly after the statement closes and you shouldn't be charged any interest (well witinh your grace period). You can call Cap1 as well and request a convenience check if you don't receive them with your statements.
