Got a whopping $200 more! (now $3200). Thought the computer hated me!!! Originally I'd called to see how to get the card reporting to TU again (after losing it after an unsuccesful "report the credit limit" dispute). System right off the bat offered the increase, but at first I declined it (called back for kicks to see if the offer was still there...it was). Hopefully it reports to TU again and my planned "buy and return" this month works and gets most of it reported.
I know how you feel. I waited forever to receive a line increase from Cap1 and nothing. Then all of a sudden they called about a month ago asking if I would like an increase. This was after being with them for 1.6 years. I declined the increase and kept my $600 limit. What are you going to buy and return?
Probably going with a nice expensive laptop (gonna stay sealed in the box, of course). Circuit City has a 14 day no restocking fee policy so I shouldn't have a problem returning it. This CLI complicates matters though. May have to splurge for a vacuum cleaner as well (evil grin)...should kick the high balance a shade over the $3000 I had before (but it SHOULD report now)
That is hilarious! Funny thing is I wasn't thinking when I booked our Carnival cruise on my Capital one CC and then cancelled it. MY I'm so happy I did cause now my CL is showing a huge amt and there's nothing on it. Before it was so low. I hate that Cap 1 does that to US! Why can't they just report the actual CL??
Just figured this out...if it works, it should knock my "reported" utilization down from 47% to around 20% (if not less).
The plan was to buy it a little under a week before the statement closes then return it right after the statement closes. Just to be clear on the ramifications (and I think I know the answer), just how much of a red flag am I setting myself up for if I go through with it? That article the other person posted makes me worried that I'm giving somebody the perfect excuse to jack me in the end by running the card up. Or is this just another way for Crapital One to say "Ha ha, we GOT you"? (we don't report limits and if you try to work around it, you're DEAD). Need some opinions.
statement date here is June 9th a Monday. So i am thinking of buying something on Saturday the 7th and returning it on the Tuesday the 10th? Would that work? Dog
I'd give yourself a few more days before the statement closes (so that you know it'll post before then). If you've got online access to the account, once you've seen that they took all of that month's transactions and moved them to the statement page (leaving the current transactions page blank), then it's safe to pay it back (return/refund)
Re: Re: OMG Cap1 gives a CLI! Why? In my case, CL is $3200, and I plan on keeping the "purchase" + the current balance to around $3000, leaves more than enough for any possible interest (not sure...do they credit back partial interest for something that's returned between statements?). Just leave a hundred or so unused to keep from going over. Depending on your actual CL, you'll probaly have to be satisfied with getting around 90-95% of the actual limit reported (which in my case would be more than double what's being reported now)
Re: Re: OMG Cap1 gives a CLI! Oh i am really misunderstanding! LOL ........I was thinking the reason for doing this WAS to temporarily bump over your actually CL to show a much higher amount? puzzled Dog
Since Cap One reports your high balance instead of your actual credit limit, you need to get the card close to the limit at least once. That helps your utilization ratio. There are ways to achieve a high balance without incurring a large debt that has to be repaid.
They "THINK" that there is no difference!!! They "THINK" if you had a HIGH BALANCE of $2,000 but had a CREDIT LIMIT of $10,000...you would not be STOLEN by another credit card company because they would "THINK" that you only had a $2,000 limit!!! NOT EVERY CREDIT CARD COMPANY IS AS STUPID AS CAPITAL ONE...
We did BT'S $50.00 under the CREDIT LIMIT and made two min payments then PAID IT IN FULL WHEN IT SHOWED UP ON THE CREDIT REPORTS...
I know I'm a broken record....but the fact that this thread even exists just goes to show you that Cap1 just isn't worth it. Low CL's, annual fees, doesn't report CL, bangs all 3 reports when you apply. All of these are known bads. Name another "prime" card that does any of this? If you've got the scores, dump them to teach them a lesson. There are 1,000 other CC companies out there that would love your business. And while I'm at it, how many people have a Cap1 card where they did NOT ask for your income? I'm betting that there are lots of people in this position. Makes you wonder what they're really up to over there......
If Crapital One wasn't my oldest open CC TL, I'd dump their asses in a heartbeat! $500 after 1.5 years... with my next $100 increase duein September. Gimme a break!
Same here. I am just tired of the fight. I have 2 cards with them, one toy plat that I'll keep (decent limit, low apr) but the gold one is going bye-bye just before I get billed for the annual fee. With Citi and providian (the new prime plat, not the subprime gold) I just don't need the headaches from 2 Cap one cards anymore.
Yesterday in the mail I received two credit card offers: BMW Bank: 10.25%, no fee. No mention of a CL but I find it very hard to believe that it would be $500. Cap1 Lowe's: 14.9%, $4/month "membership" fee, minimum CL of $200. I've been a Cap1 customer for almost 3 years. Who are they kidding? Don't they know their own customers?
