Hey Guys/Gals! Thought one of you might be able to help me here... -I got an offer for Cap1's Miles One Visa w/no annual fee. I'm paying I think like $125 a year for Delta SkyMiles, and $75 or so for my BofA Alaska Airlines Visa. Both credit lines are pretty high. Let's just say I could easily purchase a new vehicle on either card. I mailed the application back to Cap1 and they mail me the card with a credit line of $1,000!!! For f*ck's sake!!! I called them right when I got the card and gave the whole "well, I like the card and it's benifits, but I can't do ANYTHING w/$1000!" The CS was actually really awesome. It seems that Cap1 Business is much better than their personal cards. Anyway, here's my dilemma: I'd actually like to keep this card, but honestly, at $1,000...c'mon. They told me that if I used the card for a few months they could review for a line increase. I said OK. Anyway, I was thinking about it, and I've never gotten such a low CL and I'm hesitant to close such a new account. On the other hand, I don't want this account with its $1000 CL polluting my credit report. What should I do? I know that even with a CL increase, the likelyhood (sp?) that the CL will exceed $5,000 or so is pretty small. Any body know how I can get them to up the CL SIGNIFICANTLY? Thanks y'all! -K
I believe that if you never use the card and "reject" it, the tradeline will not report, or you can dispute it and have it deleted. I recall a post from GEORGE on the matter....
I used to have a Cap 1 business card, and the ole "use for a few months and we will up your cl" line was used on me also. After a year and a half, that 1k CL had only increase to 2.2K. I would have dumped it sooner, except the CAP1 business cards do not show up on your CR.
I get great offers from Cap.1 too but never apply. The low credit lines is the reason. I am afraid of applying for one of their high end products and ending up with a $300 limit card. One of my first accounts was with Cap. 1. I had bad credit so the card was secured. After five years, it was still secured and I cancelled it. By that time, I had gotten great APRs and high credit lines with other companies. Stay away from Cap.1 if your credit is good because you are likely to be disappointed in what you get.
Re: Cap1 MilesOne Business...help.. Actually... ooops.... if it is a business card and doesnt report, why not keep it? it doenst cost you a dime..... its not showing up on your CR!
I got a "TOY" card from STATE FARM!!! I told them the truth about the "TOY" card that it was 80% LOWER THAN MY LOWEST CREDIT CARD LIMIT!!! It was a MISTAKE IN JUDGEMENT on their part!!! Somebody called me about closing the account (the same day the card arrived in the mail)...I told them I have no need for a "TOY" card since all my limits are >$5,000...he raised it immediately. I WOULD HAVE RATHER THEM DENY ME THAN GIVE ME SUCH A JOKE OF A CREDIT LIMIT!!! I closed the card a few months later over the BT DEBACLE!!!
Re: Re: Cap1 MilesOne Business...help.. I think I'll do that. I just assumed that this would show up on my CR. If not, I will keep it open. I read somewhere that it costs them like $40/year to keep my account active with Visa's licensing fees and such...time for the consumer to screw the corporation!!! Thanks for all your advice, guys (and gals!!)!
