I got a letter from CAPITOL 1 yesterday they said they don't report CL only HL. Somebody mentioned to me that you can make a purchase beyond your credit limit and returning before you billing cycle ends and it will artificially report a higher HL than what CAP 1 set as your credit limit, ... thereby increasing you FICO score!!!
I wonder how you can make a purchase over your credit limit. You will either get rejected or pay a penelty, someone please advise...
Why don't you just do a BT about 2 weeks before your statement is printed...then pay it off about 2 days after the statement date... "IF" you do the BUY AND RETURN deal...DON'T GO OVER YOUR LIMIT...EVEN IF YOU RETURN THE ITEM 2 DAYS AFTER THE STATEMENT DATE FOR CREDIT!!!
No. On a zero balance card in which there is no trailing interest, you should make a purchase up to a few dollars of your credit limit (BUT NOT OVER it) a few days BEFORE your statement cycle. Allow the statement to cycle with the high balance on there. Then return the item.
Re: Re: Cap1 Hl, Got Letter From Manager Yes, I was misinformed Thank You all for catching that. I called CAP-ONE a few days after recieving the letter. The CSR and the SUPERVISOR told me that I could go over my limit by a percentage amount. I neveer asked how much. But, the told me even if I pay my card back down prior to my billing cycle I will still be charged an overlimit fee. .... Just thought I would let everybody know!!!!
