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Wondering If Anyone Else Has Tried...


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I am in the process of an experiment with my Capital One account.

Capitial One only reports your highest balance as your available limit.

I recently received some purchase checks in the mail. I read over the information carefully before I proceeded... there are no transaction fees, no cash advance fees, use of the checks will be treated as a purchase not a cash advance, use the checks anywhere that doesn't accept credit cards, and YOU CAN EVEN WRITE ONE TO YOURSELF FOR CASH.

With a week and a half left before the statement period, I wrote myself a check for $4900. My limit is $5000 (I wanted to leave a cushion).

I now have the $4900 in my bank account and the purchase check has posted to my Capital One account giving me a $4900 balance.

I realize that initially, my score will probably get dinged for taking on additional revolving debt. My plan is to send the $4900 back as a payment during the next statement period, after Capital One has reported to the bureau.

At that point, they should be reporting a high limit of $4900 with a $0 balance.

Can anyone tell me if they have attemped this and did it work to improve credit score?


After Chapter 7 BK in July 2005, my scores are TU: 688 EXP: 684 EQ: 676

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I initially started doing this last year so that CapOne would report my limit correctly. Now I do it every month so that I pocket the interest.

With your limits, if you do this every month and are depositing the checks into a 5% interest bearing account, CapOne essentially has paid you roughly $250/year, less income tax.

Not bad.

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Capital One started reporting credit limits last month.


Yep. Ours didn't show last month, but this month the limits are showing on all 3 reports. I called last month to find out if they would start reporting and was told my call "was very timely", as they were starting to report limits that month.

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