Is this a common that Cap 1 would not report my line of credit to the Credit Bureaus?? Can I call and request them to do so? Could this be hurting my score? Also I have 2 Capital 1 Cards the @card and a gold card. Do you think that they would upgrade both of the into a Plat. Card? Has anyone had any luck with doing something such as this leencaci
leencaci, First of all, welcome to the board. Unfortunately, Cap One does not report credit limits to the CRAs, only balances. How much it hurts your score depends high of a balance you have carried in the past and how much of a balance you're carrying now. An example, you have a $5K limit with Cap One, but your high balance being reported is $2000 and your current balance is $1000. To potential creditors it looks like you're using 50% of your available credit with Cap One, while in fact, you're only using 20%. This is how it hurts your score when CCCs don't report balances. Dani
They are both paid off. That just makes me not want to use them anymore. I would hate to close them and hurt my credit score. That is another reason I was wondering if they would or could combine the 2 cards into one plat. and combine the 2 credit lines. leencaci
There is a flip-side to this example, Dani. If you only had 500$ balance and $2000 high limit, then you would only be using 25% of your credit limit, but had $3000 of hidden credit, something that could potentially improve your score. If you want your full credit limit to show, just charge up to the max for one month, then pay it off after the card reported. Since your high balance will be considered your credit limit. The Cap1 people are pretty easy when it comes to combining cards (after you hit the 6 month mark). Until recently to get a platinum card, you would need to have your old card have more than $5000 CL. But that may have changed now that they give $500 toy platinums. You should send them a PFB(www.planetfeedback.com) letter, and see what their consumer advocate can do for u. -roman
Leencaci, I would not close an account because the credit limit does not report. Several well know issuers do not report the limit. However, after you PlanetFeedback Capital One (asking to have the lines combined into a Platinum No Hassle card), you could write yourself a check for the full credit line and payoff the account with the same funds after your account cycles. You can do this without paying a penny of interest or service charges. Good luck! Cardkid
Thanks CardKid I will do that. I was just checking out that site. I will post and let everyone know what happens. BTW have any of you seen the site http://www.millcbs.com/ it would be a great info site if people posted the correct info. Just thought I would pass this on. leencaci
CAPITAL ONE "THINKS" it doesn't matter if they only report "HIGH CREDIT"... You MIGHT be able to send a copy of your bill with the CREDIT LIMIT highlighted in HOT PINK and ask them to report your credit limit... Say something related to 100% ACCURATE~~~NO CREDIT LIMIT CAN'T BE 100% ACCURATE... N/A IS NOT ACCURATE EITHER!!!
John, the owner of the site http://www.millcbs.com is a regular on creditnet He is constantly improving his service. It isn't infallible, though, because banks switch from one cra to another for various reasons.
I have said this before...IT IS TRUE THAT CRA'S HAVE SALES ON CREDIT REPORTS...so DON'T get mad at someone who posts that XYZ BANK pulls from EXPERIAN...TRANS UNION may have contacted them and said we will charge you 3/4 of what you pay for an EXPERIAN credit report... ALSO, some banks have "LINKS" to ALL 3 and just pull EXPERIAN one week and EQUIFAX the next, then TRANS UNION the 3rd week. ALSO some banks "PULL" 2 of 3 then APPROVE...if they see one late or something else bad...they MAY pull the 3rd... They can also "PULL" different report from different areas of the SAME STATE!!!
Hermit5, Which part do you want me to elaborate on? If it's the check-cash advance, that's simple if you have the right type of card. Capital One's No Hassle card does not have any fees associated with balance transfers and with the statement often comes a check that you can use without any fees attached. Once you are certain your card has the "no hassle" benefits, you could write yourself a check for the full credit line. Take the check and deposit it into your account. Wait for your next billing statement. When the amount appears on the statement (or online), pay the money back using the same funds. What do you get for doing this? Your high credit will be stamped on your credit report. This will, in this case, serve as your reported credit limit. Although it is a "hassle", it's one that doesn't cost you anything. You'll probably earn a little interest over the 25 day grace period. CardKid
That option comes with the no hassle's card? And goes as a cash advance? Interesting. I have to wait 6 months before I will qualify for it.
Hermit, Actually, you could PFB Cap One to get the 8.9% rate. I believe that the rate also controls the benefits. So, you card doesn't have to say "No Hassle" on it in order to have the benefit. Also, I believe you must use the access checks to avoid any fees. I don't think you could walk into a bank branch and take a couple of grand from the card without fees. But, I could be wrong. If anyone else could provide more insight, we'd appreciate it. CardKid
