Capital One is subprime...I don't care if they call it gold, platinum, or aluminum...they suck, and should be avoided....I personally told them to shove their $300 gold card up their collective asses earlier this year....AND to take the entry off my credit bureaus..."I didn't close your pissy account, I REJECTED your offer"...comprende? They comprended....took off the inquirey too.... Hate 'em more than the Franklin Mint plate.... David
I have to say they've been good to me. I have gotten excellent customer sevice from them. But I am very angry that they don't report the credit limit to the CRAs. They only report your balance and that combination lowers your score. If I can't get them to start reporting my credit limit, I'll surely cancel my cap1 card. Anybody know if there is anything I can do to get the credit limit to report?
send a copy of your statement with the limit highlighted to the cra and tell them that under FCRA they must report complete information. I think that credit limit IS part of complete information.
Hey, better yet...charge it up to the limit then pay it down! That's what they want you to do anyway! Then of course the bureaus will be showing your limit. More charges=more money=more interest=more, more, more!!
I bought an expensive computer from Sears and then used Yahoo PayDirect to fund the difference to within $1 of my credit limit. After both transactions posted in two days, I immediately refunded both the computer and PayDirect transfer from account. It took less than a week and my high credit was $1 short of my credit limit at the time (I've gotten an additional $1000 since then and haven't bothered to buy anything since the balance is $0 and it's kind of tough to find a $5100 item to buy and return discreetly). FICO does use your high balance (HB) as your credit limit -as I have calculated my utilizations on allof my credit reports using the HB and it matches the utilization the reports have given to my lenders.
I have rocked the "Sears" program several times over the years to increase credit lines with any and every credit card. One of the best ways to do it is to buy furniture. As long as you don't buy a mattress, furniture purchased from Sears or any fine furniture store can easily run $5000 or even $50,000. They can never give you a delivery date that isn't a week or 2 away. Just go back in and cancel the order 2 or 3 days before the delivery date and they post a credit to your credit card account. Sometimes I don't want to face the poor salesperson that drooled over the huge commission they were going to make and I make the return on their day off. Works every time. But regarding the fact that the CRAs are not reporting my credit limit, I will try Erica's suggestion...
Very cleaver! I was thinking of doing the same thing!!! How about several computers from different venders totalling $5050?
I have gotten all my credit limits reported with the credit bureaus. All I do is send a copy of my statement, most of it blacked out, and circle the credit line. The only problem is when I get a credit increase I have to send out another letter and statement. Blah. Also, on the letter just write please update credit limit, DO NOT DELETE. It works. Dani
Sorry...this was supposed to be a reply post to the thread about low limits on Cap One cards....didn't mean to start another thread....my head must be up my own ass today... retracting to an upright position.... David
