I got my TU back in the mail today. 3 deletions, 1 verification. 2 derogs left. I also got two other offers. 1. Cap 1 Platinum, up to $1000, 0% until Oct, then 14.9%. (right now my two cards are 21.9% and 28.9%). 2. Chevron Credit builder account. They denied me for a regular card, but offered this with a limit of $300. I thought I would call in the morning and see why I was denied and find out who this credit builder card reports to. Any thoughts on either offer?
wow my scores were over 100 points higher and cap1 offered me a tremendous $250 with a high annual fee. I had to decline their generous offer.
Capital One is a whacky company. You have to give them credit though. They have managed to keep their subprime default rate low while the rest of the subprime market is going down in flames. Good for Capital One, Just not good for you,
From yesterday's news: "Capital One, which has about 40% of its business in the sub-prime market, reported this week that its overall charge-off rate hit 6.47% in the first quarter, compared to 4.70% one year ago. (Capital One's overall rate is artificially low due to its strong growth in total loans.) But the 38% rise in Capital One losses is significant."
Well, I took both offers. The Chevron I wanted and I called and asked... it does report to all 3 CRAs. $300 limit no annual fee. Cap1 was all automated so no clue. But when I get the card if the terms aren't what was in the letter, I'll cancel it. I figure any limit right now will help my debt ratio and I can always transfer from my higher cards which would be paid off by October anyway. 0% will just make it a little quicker. Seems harmless enough.
