My Cap One card has a zero balance on it for the first time since I got the card 30 months ago. This was my 1st post-BK credit card so I have used it every month without fail to build credit. I have no real need to use it except to build credit. I have 5 other Visa cards, 4 retail cards and a car payment. I plan to charge on the other 5 Visa cards every month and a couple of retail cards too. I am inclined to give the Cap One card a rest for a couple of months. Who knows maybe Cap One will notice and give me offers. Any opinions?
Jim, As you might remember, my oldest CapOne card dates back to July of 96 and it took the longest time before I was granted any kind of an increase. There were several periods of three to six months when I didn't use the card at all and, unfortunately, I didn't notice any difference in terms of the way CapOne responded. However, their customer service does seem to be improving. Maybe this strategy will prove successful for you. Good luck and, if you are successful in getting increases by keeping your card inactive for a few months, please let us know. Donna
When I paid off my Cap1 Visa in 2 large payments (400 and 500) it generated a 300 increase. Then, on a different account, I did the free balance transfers to generate different activity just to test their system of generating increases. On my new little $300 card, I called the balance transfer dept, was put on hold, and they gave me an increase of 1,000 for balance transfers. The rep was very aggressive about getting the balance transfer info (acct numbers and payoffs) that day... since I called using my cell phone she said she'd call me at home later in the day. True to her word, she called and got the info. I was also told that the balance transfer department will take a request for a balance transfer and if you don't have enough credit left, they system will automatically try to increase your credit line. I did that once but it just declined the balance transfer. I have had better results talking with the reps directly.
Hi Donna, Thanks for the reponse. What concerns me here is that there is some anecdotal evidence that having a credit for more than 36 months improves your credit score. I have to wonder if "having" is the same as "using every month". I seem to remember that Creditworks here on the board has a lot of credit accounts. He mentioned that he runs up a bill and then stops using the account for a few months. His strategy has worked well. BTW: MY Cap One is now 12.3% apr. and $3,300 limit, no annual fee, 25 day grace. This is due to the healing power of time and the Consumer Advocate.
I'd think that if you want something specific from them and you wait a few months, call in and tell them that the reason you haven't been using your account is "whatever", they can see that you are probably telling the truth because of the lack of activity. (Was that a long sentence or what?) I've paid off one of my Providian accounts and will have the other paid off next month. I've been planning to leave both accounts inactive for a couple of months and then call them and press for the grace period. I'll tell them that's why I haven't been using the accounts and I will have a couple of months of inactivity (after three years of heavy activity each month) to back up my complaint.
Dave, I was thinking the same thing. Cap One is so stingy and I eventually want to upgrade to Platinum, so I need some leverage.
