I've heard that Cap One does not report credit limits to the CRAs, does this apply to its gold and platinum cards as well? Why doesn't it report them?
like other banks, they don't want others to know how much your line is, other banks will pull your credit, see your lines, and mail you a better offer, hence stealing customers away.
From what I have read Cap 1 doesn't report any limits for any of their products to any of the agencies. Not sure in their reasoning, Citibank does this as well but only with Experian, they claim they don't want to lose customers to other creditors, not sure about Cap 1 reasoning though. I have successfully gotten my limits reported to Experian, I sent them my statement highting my limits TWICE and they finally updated my reports. That is one of the main reasons why I avoid Cap 1. This is NOT accurate reporting on their part and they can seriously damage a persons debt/ratios by not reporting, but these banks don't seem to care.
Every bank out there already has a pretty good idea that your Capital One limit is low. Plus, banks almost never offer you a specific credit limit, even on preapproved offers. Those hillbillies at CapOne aren't being smart; they're just being jerks.
