Discussion in 'Credit Talk' started by ESRA, May 23, 2000.

  1. ESRA

    ESRA Guest

    I have been using Capital One`s secured credit card for the last 4 months, but my credit history seems to stay the same. I just read the message "what is the point?" and thought maybe my Capital one does not send my reports to the credit card companies. I always pay my credit card bills on time, actually before the due date. What should I do? How long will it take to establish a good credit history?
  2. C

    C Guest

    Don't expect much from Capital One. They've screwed me beyond what is humanly possible.
  3. Alex - Cre

    Alex - Cre Guest

    Establishing a good credit history definitely will take you more than 4 months, it usually takes a couple of years of responsable credit card use, I believe Capital One does report your activity to the credit bureaus even though it's a secured card.


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  4. sam

    sam Well-Known Member

    Yes they report. They have fantastic customer service and their new website coming looks very sophisticated!

    $99 deposit, horrible credit, got $500 limit. Who else does that?
  5. Sarah

    Sarah Guest

    Can you get that $99 deposit, $500 limit card with CO even if you have a charged-off account with them previously?
  6. sam

    sam Well-Known Member

    doubtful. Try it. apply online, you'll get a letter in a week with the required deposit.
  7. Kelly

    Kelly Well-Known Member

    Capital One will screw anybody they can. I have complained to the FTC after fighting with them forever. I doubt even that will do any good. The woman I talked to at the FTC said they were breaking the law on a daily basis and they knew it. Maybe if enough people complain they will be forced to do something.
  8. ESRA

    ESRA Guest


    I really don`t understand how they screw you. I haven`t had any problems with my credit card companies before and I have no idea what they can do to you. Actually one time they charged me an over limit fee, but then when I talked to them they took it back. Do you mean things like that or something about the interest? I do have a very low limit and I pay ot off each month, maybe that`s why I do not know anything about those kinds of things.
  9. Doris K.

    Doris K. Well-Known Member

    Capital One is normally very thorough in reporting to the CRAs. Four months simply isn't enough time to make a drop in the bucket. You're looking at at least two years, so don't give up! Rome wasn't built in a day, and positive credit damned sure isn't.

    Some advice: Stay way from reaching that credit limit! Your having to pay an over-the-limit fee within the first four months of opening the account is NOT a good thing. Don't EVER do that again! Credit card companies are very unforgiving for even the smallest goof-ups.

    Have you checked your credit reports? I'm quite sure Capital One is reporting your account, so if you aren't sure, you probably don't know what's on the reports. They could possibly include some errors on them that could shock and horrify you. Now is the perfect time to look into it.

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