I got a CapOne semi-secured card November '01, credit limit $500, 18.9%, had to put $50 down, $19 annual fee...balance is $400 right now. Score summary below: TU 11/01:489 7/02:543 EQ 11/01:519 7/02:561 EX 11/01:530 7/02:602 The first week of December '02 I will be getting a new car, either a 2003 Nissan Altima or a 2003 Nissan Murano. Obviously, I want to increase my score as much as possible before than and I have several dispute letters pending at each CRA right now, which I should hear back on in the next 2 weeks. Should I ask for an increase to help with my debt/limit ratio? I don't plan on actually using the new credit if granted. Thanks for your ideas.
That is a good increase in scores, congratulations. Good luck on your new car purchase, and good luck on your disputes. I am guessing that if they do give you an increase, it will probably be small, around 200 dollars. I say that because if you search for posts, Capital One has gotten more stingy with limit increases. Remember, Capital One doesn't report credit limits, so I wonder if it would matter on your report about debt/limit ratios?
Thanks...I never noticed that capone didn't report limits. BTW, I don't plan on getting approved for the lease myself, as I don't htink my scores will be that high that soon (I have a judgment that is really hurting me that I paid off in June '02). So, my brother, who has a 780 score is cosigning for me to make sure it goes through. Maybe I'll skip the increase request, especially since I don't want to use the credit.
