A couple of months ago my FICO Score was 720 - I decided to check it again tonight. It is now 625. Since Capitol one doesnt report limits, and I have a higher balance than I ever had have with them before it looks as it that card is maxxed out. ($800) I just got a new mastercard from cap one a couple of months ago and it looks like its maxxed out once again since they dont report limits. I also just got a new chase card and im sure that caused my score to drop a bit....Once I pay off the $800 capital one balance im sure my score will recoup back to 720 or higher, I know it will....But in the mean time seeing that number sure does SUCK when im used to seeing 720. I'll have it back soon enough though I suppose. Just wanted to rant.......
Depending on how large your chase credit limit is, you might consider a bt to chase. OR, you could charge your cap1 card close to the max with a big refundable purchase, then return the purchase. Your credit limit would then show.
LOL - thanks for the help however chase only gave me a $200 line since I have such a short credit history. (a year and 2 months) or I assume that is why. Once I pay off the cap one balance my score should bounce right back to 720, or very close.... I assume so anyways.
New chase card bought average account age down. And maxing out your cards is also bad. I think 20%-30% is the magic number that creditors like.
You must have read my post wrong. My cards not not maxed out, they appear to be. Capitol One does not report you credit limit, only your high credit. My previous high credit was like $322, so the new $800 balance was a major change.
GM doesnt report limits?!?!? I thought that was just capitalone! Does everyone else have the same experience? My EQ is at 721, and GM isn't reporting yet.. I wonder if I should brace for a major score drop once they start reporting
Just have to post to thank you, rackt3...lol. I've done this so many times everyone here must think I'm either blind or just nuts. Thanks for joining me in the "making things up" department L
Forgot if they report limits on the tradelines, but on the online credit report it will say how much of your balance is being used. Did you max out your cards?
alent - NO my cards are not maxed out. If you have a capital one account they only report the high credit. Say if you spent $20 on your new kmart mastercard than on your credit report it is going to list $20 as your credit limit, and $20 as your balance. This making it look like you have a card that is maxed out. If you got a new card that reported the actual limit it would say $2,000 limit, $20 balance. See what im saying ?
What eric is saying is that he has a new high limit on his cap1 account... so cap1 reports the account with high limit/credit limit 800 and it looks like he is maxed even though his true limit might be 10k
If you can BT 98%-99% of the CREDIT LIMIT (even if it is @ 18%) and pay it off ONE DAY AFTER THE STATEMENT IS PROCESSED... Easier that buying "STUFF" and taking it back...ESPECIALLY IF YOU HAVE TO TAKE BACK SOMETHING >$5,000!!!
Weird. They don't do it to me. I have 2 cap one cards and I only use one of them. A few months ago it was almost maxed out until I paid it off. A few weeks later the percentage of balance/limit changed to reflect it and my fico went up.
