demonicae Posted March 4, 2005 Report Share Posted March 4, 2005 Have had a Capitol 1 card since August, started with a $200, and after three cycles of on time payments it was upped $100 to a $300 limit. Have made on time payments every month, should I ask for a limit increase or just let them give it to me when they want? Link to comment Share on other sites More sharing options...
Champion80 Posted March 4, 2005 Report Share Posted March 4, 2005 I also have a Cap1 account, I got it back in November, I payed the full balance off each month, always on time, in the beginning when I called, I asked when I would be reviewed for an increase, and they said after your third billing cycle, it has now been past that time, I called and asked the CSR, but they said it had no been reviewed, I asked to speak with that department and we spoke for quite some time, she said due to 9/11 and what that caused business wise, we are currently only sending out CL increases to certain people, and it is with an offer to do a balance transfer to increase the limit. So the Posts here about CAP1 are true, CAP1 really has no value whatssover, except an on time payment, and considering the limit is not reported, they probably have more bad than good. I am trying to get a boycott going, informal at this point, but I think if we cancel in the massess they may change that practice of not reporting. Theres my 2 cents... Link to comment Share on other sites More sharing options...
aints68 Posted March 12, 2005 Report Share Posted March 12, 2005 My friend also has a cap 1 that I'm thinking about being added onto as an AU, but I am also concerned about them not reporting the card limit. I thought that it might help if enough people wrote them and threatened to go public with this. Someone in the news media would probably love to take on the story about how cap1 is actually causing people to lose out on better rates or even obtain mortgages and loans because they are not accurately reporting. A story like that going national would definitely cause people to close their accounts, and would probably cause quite a dip in their stock prices. Let us know how your boycott goes, or if you take it to the next level. Link to comment Share on other sites More sharing options...
aints68 Posted March 12, 2005 Report Share Posted March 12, 2005 My friend also has a cap 1 that I'm thinking about being added onto as an AU, but I am also concerned about them not reporting the card limit. I thought that it might help if enough people wrote them and threatened to go public with this. Someone in the news media would probably love to take on the story about how cap1 is actually causing people to lose out on better rates or even obtain mortgages and loans because they are not accurately reporting. A story like that going national would definitely cause people to close their accounts, and would probably cause quite a dip in their stock prices. Let us know how your boycott goes, or if you take it to the next level. Link to comment Share on other sites More sharing options...
jgandino Posted March 12, 2005 Report Share Posted March 12, 2005 I just recently joined this board, but I have a lot of useful information regarding building credit. I'll post my whole situation later on. As far as building credit, I don't know why people pay off their balances every month. That doesn't show that you can handle credit. It works to being out that you have to pay for credit in the long run, interest wise. Always maintain about 10-20% balance on your credit cards, or something that is confortable with you. That is the only way you will build credit up, even with a 20% interest rate, a small 100 or 200 dollar balance is MINIMAL on your monthly payment of interest. If you make a nice size purchase once in a while, just set up auto pay on yoru bank account, pay it down, then work again from there.Scores look at the fact that you can hold a balance, and use your credit wisely. I'm always open for more comments as I've been through a good bit of everything regarding credit.Justin Link to comment Share on other sites More sharing options...
jgandino Posted March 12, 2005 Report Share Posted March 12, 2005 I just recently joined this board, but I have a lot of useful information regarding building credit. I'll post my whole situation later on. As far as building credit, I don't know why people pay off their balances every month. That doesn't show that you can handle credit. It works to being out that you have to pay for credit in the long run, interest wise. Always maintain about 10-20% balance on your credit cards, or something that is confortable with you. That is the only way you will build credit up, even with a 20% interest rate, a small 100 or 200 dollar balance is MINIMAL on your monthly payment of interest. If you make a nice size purchase once in a while, just set up auto pay on yoru bank account, pay it down, then work again from there.Scores look at the fact that you can hold a balance, and use your credit wisely. I'm always open for more comments as I've been through a good bit of everything regarding credit.Justin Link to comment Share on other sites More sharing options...
aints68 Posted March 12, 2005 Report Share Posted March 12, 2005 Champion80:Just found this article on the web about cap1 limits. Thought you might like to read itwww.washingtonpost.com/wp-dyn/articles/A25109-2004Dec24.html Link to comment Share on other sites More sharing options...
aints68 Posted March 12, 2005 Report Share Posted March 12, 2005 Champion80:Just found this article on the web about cap1 limits. Thought you might like to read itwww.washingtonpost.com/wp-dyn/articles/A25109-2004Dec24.html Link to comment Share on other sites More sharing options...
catnap1972 Posted March 12, 2005 Report Share Posted March 12, 2005 Increase every six months is about the best you're going to do with them, and even that's only a joke increase at best. I can still call and get auto increases on mine but that may be because it's an older account (1996)...newer accounts are 9-12 months (if even then) for an increase.Indeed the credit limits (or lack thereof) have been publicized, but given the pro-business atmosphere nowadays, I don't think anything short of a miracle is going to get them to change their policies. Link to comment Share on other sites More sharing options...
catnap1972 Posted March 12, 2005 Report Share Posted March 12, 2005 Increase every six months is about the best you're going to do with them, and even that's only a joke increase at best. I can still call and get auto increases on mine but that may be because it's an older account (1996)...newer accounts are 9-12 months (if even then) for an increase.Indeed the credit limits (or lack thereof) have been publicized, but given the pro-business atmosphere nowadays, I don't think anything short of a miracle is going to get them to change their policies. Link to comment Share on other sites More sharing options...
Champion80 Posted March 12, 2005 Report Share Posted March 12, 2005 Good Link Aints, I cant wait to get rid of them, I would really like to get a massive mailing of letters to the company threaening to cancel all our cards, or on letter followed by a few thousand signatures, I will be getting rid of them very soon... Link to comment Share on other sites More sharing options...
Champion80 Posted March 12, 2005 Report Share Posted March 12, 2005 Good Link Aints, I cant wait to get rid of them, I would really like to get a massive mailing of letters to the company threaening to cancel all our cards, or on letter followed by a few thousand signatures, I will be getting rid of them very soon... Link to comment Share on other sites More sharing options...
credithelp Posted March 13, 2005 Report Share Posted March 13, 2005 I used to not think so bad of them but i'm tired of the games they play and hate that they dont report the credit limits. Not reporting the credit limits is totally unfair to consumers. Link to comment Share on other sites More sharing options...
credithelp Posted March 13, 2005 Report Share Posted March 13, 2005 I used to not think so bad of them but i'm tired of the games they play and hate that they dont report the credit limits. Not reporting the credit limits is totally unfair to consumers. Link to comment Share on other sites More sharing options...
catnap1972 Posted March 13, 2005 Report Share Posted March 13, 2005 I used to not think so bad of them but i'm tired of the games they play and hate that they dont report the credit limits. Not reporting the credit limits is totally unfair to consumers.(Crap1) "TOUGH LUCK, SUCKER--BITE ME!"They're only going to get even more arrogant now that the BK bill is all but guaranteed of passing. Link to comment Share on other sites More sharing options...
catnap1972 Posted March 13, 2005 Report Share Posted March 13, 2005 I used to not think so bad of them but i'm tired of the games they play and hate that they dont report the credit limits. Not reporting the credit limits is totally unfair to consumers.(Crap1) "TOUGH LUCK, SUCKER--BITE ME!"They're only going to get even more arrogant now that the BK bill is all but guaranteed of passing. Link to comment Share on other sites More sharing options...
sjsharks Posted March 13, 2005 Report Share Posted March 13, 2005 (edited) I used to not think so bad of them but i'm tired of the games they play and hate that they dont report the credit limits. Not reporting the credit limits is totally unfair to consumers.Fight back. Improve your credit picture and dump cap1 at your first chance.You (we) can't make them change, but we can vote with our dollars.....Take 'em elsewhere and show cap1 the exit door.Thats what I did and I must say I truly enjoy all the money cap1 spends sending me all the mail solicitations.________3.3 engine Edited February 3, 2011 by sjsharks Link to comment Share on other sites More sharing options...
sjsharks Posted March 13, 2005 Report Share Posted March 13, 2005 (edited) I used to not think so bad of them but i'm tired of the games they play and hate that they dont report the credit limits. Not reporting the credit limits is totally unfair to consumers.Fight back. Improve your credit picture and dump cap1 at your first chance.You (we) can't make them change, but we can vote with our dollars.....Take 'em elsewhere and show cap1 the exit door.Thats what I did and I must say I truly enjoy all the money cap1 spends sending me all the mail solicitations.________headshops Edited February 3, 2011 by sjsharks Link to comment Share on other sites More sharing options...
divemedic Posted March 13, 2005 Report Share Posted March 13, 2005 It is easy to get around the CL reporting. Run the card to max, let the billing cycle close. The TL will report as a max credit of your CL. Then pay it off. It is easy to do, as the CL is low on these cards. Pay all of your bills (phone, electric, groceries) with the CC, but hold on to the money you would have used to pay it. Then, use that money to pay the card. Do it during the grace period and it costs you no interest.As far as your scores, FICO doesn't care if you pay off every month. It is a snapshot of your credit. It is based only on what is on your report at the time you pull the score. Link to comment Share on other sites More sharing options...
divemedic Posted March 13, 2005 Report Share Posted March 13, 2005 It is easy to get around the CL reporting. Run the card to max, let the billing cycle close. The TL will report as a max credit of your CL. Then pay it off. It is easy to do, as the CL is low on these cards. Pay all of your bills (phone, electric, groceries) with the CC, but hold on to the money you would have used to pay it. Then, use that money to pay the card. Do it during the grace period and it costs you no interest.As far as your scores, FICO doesn't care if you pay off every month. It is a snapshot of your credit. It is based only on what is on your report at the time you pull the score. Link to comment Share on other sites More sharing options...
Tourniquet416 Posted March 13, 2005 Report Share Posted March 13, 2005 i just discovered that when i applied to Crap1, they pull all THREE of my reports, and denied me. but just about every day, they send me credit offers! Link to comment Share on other sites More sharing options...
Tourniquet416 Posted March 13, 2005 Report Share Posted March 13, 2005 i just discovered that when i applied to Crap1, they pull all THREE of my reports, and denied me. but just about every day, they send me credit offers! Link to comment Share on other sites More sharing options...
catnap1972 Posted March 13, 2005 Report Share Posted March 13, 2005 i just discovered that when i applied to Crap1, they pull all THREE of my reports, and denied me. but just about every day, they send me credit offers!Three lumps is standard MO with them.Once in awhile you'll get lucky and they'll only smack you twice Link to comment Share on other sites More sharing options...
catnap1972 Posted March 13, 2005 Report Share Posted March 13, 2005 i just discovered that when i applied to Crap1, they pull all THREE of my reports, and denied me. but just about every day, they send me credit offers!Three lumps is standard MO with them.Once in awhile you'll get lucky and they'll only smack you twice Link to comment Share on other sites More sharing options...
Champion80 Posted March 13, 2005 Report Share Posted March 13, 2005 And if you do not have enough bills to max it to your limit, go shopping at a mall or something, or find one thing that is the rest of the available limit and buy it, keep it for the most time you can before you have to return it, and since most stores have a 30 policy, that should be time enough to get it reported. Then just return it, and you are good. Link to comment Share on other sites More sharing options...
Recommended Posts