Cap One CL so little no credit WOW HOOOOOO got 400.00 increase...... I am so happy started with 200.00 now I am at 600.00 WOOOOOOOWWWW that a big deal for me. Good luck everyone else.... Cap One is AWSOME............
TOO LATE FOR ME...I should have complaind about CAPITAL ONE denial (twice) supposed "pre-approved" with authorization # and claim # or some such sort of deal. I need a "MR MILLER" for my credit card accounts...
I only got my interest dropped from 19.47% on my Gold to 15.9% and from 19.8% to 13.9% on my Classic CapOne. I got a measly $300 increase on both cards in April and was told I had to wait 8 months for another review. I hope he meant 6 months. I am still not happy that people that have secured cards have higher limits than me with unsecured cards. I have never been late and had cards since 7/00 and 10/00. Mr. Miller also explained the rationale behind not reporting credit limits (I still don't agree with it), and he said the policy will not change. If I don't get a good increase in 6 months, it is bye bye CapOne.
EXPLAIN THIS TO THEM... YOU HAVE A HIGH BALANCE OF $2,000. YOUR CREDIT REPORT FOR THE MONTH SAYS: THIS MONTH REPORTING $1,950. F.I.C.O. SAYS YOU ARE 97.5% CHARGED...BAD FOR YOUR SCORE...AND BAD IF YOU ARE APPLYING FOR NEW CREDIT (THE NEW CREDIT CARD COMPANY DOES NOT KNOW YOUR CREDIT LIMIT IS REALLY $20,000). IF YOUR "REAL" CREDIT LIMIT IS $20,000 YOU ARE REALLY 9.75%...BIG DIFFERENCE!!! If your card offers balance transfers...you can transfer to a card that also does transfers...so do 98% or so of your credit limit, wait for the bill and transfer it back. It will cost you a few bucks in interest, but in the long run it will help to have a "HIGH BALANCE" as close to the real credit limit as possible. Or try to get the CREDIT REPORTING AGENCIES to report "COMPLETE AND ACCURATE INFORMATION" no credit limit is not complete and accurate!!!! Others on this board have sent a copy of their bill with the credit limit highlighted...
GEORGE, That is exactly correct. They told me that CapOne made this decision and that in some ways this policy may be beneficial <crap>. The only instance would be if the person HAS TOO MUCH AVAILABLE CREDIT and the creditor's internal scoring uses this for credit approvals. Well gee, I doubt this would apply to that many people whereas the policy of not reporting credit limits applies to EVERYONE. When I get both feet out of subprime hell, I won't hesitate to close CrapOne.
