We are just over one year post BK 7 discharge. For months we have been inundated with Cap 1 offers--all different kinds. We have heard so many bad things about Cap 1. How they don't report like most other cards; i.e. your credit line is shown, but not the utilization. Since the full amount is shown, it looks like 100% utilization. Would like some advice on this, please. We need to get another credit card to help our tradelines as we only have two open accounts (auto loan and secured bank with $300 limit.). Have heard so much bad about Cap 1. Here's hubby's scores as of 5/3 TU 701 EXP 685 EQUI 593 (contains incorrect reporting of balance due from discharged mortgage loan; currently being disputed. Score was 655 before they reported incorrect amount. Me: TU: 622 EXP: 685 EQUI: 580 (see above) My scores remain around this area because I am in desperate need of some tradelines, as indicated by my credit reports negative explanation section. BUT my income is low ($10000) being disabled. Cap 1 still sends me apps. Any help would be most appreciated.
Cap One is one of the better sub prime cards. As long as you make your payments on time and stay under your credit limit you will be fine. Don't expect credit limit increases anytime soon. They are very conservative on their limit increases. If all you are looking for is positive trades to report Cap One is for you.
Don't sweat the cl reporting as it's more important to get a positive tradeline going. I've been a Cap 1 member since 1996 and have not received a cl in over 2 years. Since than I have gone prime so there Cap 1 sits just aging. Best regards, Mirage
I went from $300 to $4500 over the last couple of years..DH, too..Of all the subprime, they are one of the better ones, IMHO. OF course, when considering subprime, the other choices are..well...er...lol
