My Cap One credit limit has been raised from $850 to $2650 (in 18 mos) and apr was lowered from 19.8 to 12.05. Can I use this information in trying to get a better deal from other banks? My credit score has dropped from 680 to 520.
DON'T APPLY FOR ANY THING WITH THAT SCORE wasted inquirys won't help your situation work on credit repair not piling on more debt.... why did your score dive like that...
I would NOT expect much else at this time...get that score back up to 680 and shoot for the 700's PAY ON TIME PAY MORE THAN MIN DON'T APPLY FOR ANYTHING NEW
The only thing that could cause your score to tank would be a BK, in that case, Cap. 1 would have closed your account or jacked your APR. Did you file BK or a judgement or are the numbers reversed???
I defaulted on 2 cards (nextcard and aspire) that is the reason for the low score. However Mr Cooke from CapOne just gave me a $1200 increase. He told me on the first call that he had to check my acct "internally." Obviously he did not check my credit record. Very strange indeed.
Ummmm...I would KILL for your old score. And you just let it go to sh** like that? Geez....on top of that, you've been a member since 04/01 and you didn't know better?!?!?! *sigh*
stupac, a little off topic, but ... how recent was your latest cap one increase? how long between that and the increase before? just curious - mr. cooke told me during my last account review that they were only doing them at 8 months now, but I'm looking to buy some furniture next month and a credit limit increase would sure come in handy (it's been exactly 6 months for me). thanks.
When I called the 800 number on the back of my card I spoke with a lady who told me they were doing increases at 8 months. I was right at 9 months and I received my small increase.
darn. maybe if I go through mr. cooke he will bend the rules a little bit ... hopefully. anyone else had luck recently with a 6 month increase?
Re: Re: how do banks decide on limits and % have had pretty good luck. Opened another acct with cap one in march 2003 with 300 cr line and 49 annual fee. Low and behold in June 2003, my credit limit jumped to 2250. FYI, before the cr limit increase I maxed the card at 300 to report 300 limit to CRA's then paid all 300 back then the next month the increase occured. I honestly think that the puter monitors how you handle your account in addition to not being late. For example, many cneters were elated on a prime rate on Bank of Amer. Well, i decided to card hop balances back and forth to Bank of america then recieved a promo check in mail for Prime rate balance transfer!! So watch how u handle your account because I think that it sometimes triggers the puter for promos!
