Capital One Visa Credit Card 0% Purchases
Author: socalcrazyboy
Posted: Wed Mar 28, 2007 10:35 pm
Post subject: GOT APPROVED!
So I got approved for a Capital One Visa Card. just a $2000 limit. 0% on purchases till October this year, then 8.9% after. Should I activate it once I get it? Are they a good bank? Or should I close it considering the amount of cards I already have? Any suggestions, here's what I have.
American Express Blue $8000
Bank of America World Points Master Card $2000
Bank of America World Points Visa $1200
Citi Bank Diamond Preferred Rewards Master Card $2000
Gap Card $1050
Chevron Card $600
Nordstrom Card $500
I've had credit history since about 2004. and the balances are pretty much $0, except for AMEX, it has like a grand (use it the most, i luv AMEX) My current scores are Equifax 709 Experian 709 Transunion 718.
Will keeping the Captial One open hurt or improve? Or should I just close it right away?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: AJ
Posted: Thu Mar 29, 2007 5:52 am
Post subject:
Cap 1 sucks. They don't report limits, just high balance on your reports and you can forget about frequent credit limit increases. I have had a cap 1 card since 2001 . I have been stuck at 10.5k. They won't lower my rate, therefore I have a zero balnce with them. Unless you just have to have it , carry on!
Author: angelo21
Posted: Thu Mar 29, 2007 8:31 am
Post subject:
Many have had a mixed experience with Cap 1. I personally don’t have one of their cards, my wife does.
If you plan to travel abroad you may want to keep it simply because they have no transaction fee.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Brammy
Posted: Thu Mar 29, 2007 9:06 am
Post subject:
Don't forget that they only report QUARTERLY according to their rep. I maxed mine out to show a limit and paid it off first statement now it will report maxed out for the next three months Killing my FICO
Author: direred
Posted: Thu Mar 29, 2007 6:27 pm
Post subject:
They do report monthly, it's just that their reporting to EQ is behind.
They also report highest limit ever, not at statement close.
Oh, and they're supposed to be reporting limits by the end of the year.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: artcubed
Posted: Thu Mar 29, 2007 6:59 pm
Post subject:
I've had a mixed experience with Cap1.
Yes, it only reports high balance, but if you max it out and pay it off, that problem also goes away. I also read that most FICO calculations are now excluding cards that don't report limits.
The no foreign transaction fee is nice indeed.
In my experience, they only report quarterly if you have a 0 balance, if you have a balance they will report monthly. So if you're going to pay off a balance you have on there, pay it down to $5 then pay it off completely to get it to report more quickly.
You might be able to get a CLI, just call up and ask to cancel, citing the credit limit as the reason. This got them to double the limit for me.
A mixed bag indeed.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Wed Mar 28, 2007 10:35 pm
Post subject: GOT APPROVED!
So I got approved for a Capital One Visa Card. just a $2000 limit. 0% on purchases till October this year, then 8.9% after. Should I activate it once I get it? Are they a good bank? Or should I close it considering the amount of cards I already have? Any suggestions, here's what I have.
American Express Blue $8000
Bank of America World Points Master Card $2000
Bank of America World Points Visa $1200
Citi Bank Diamond Preferred Rewards Master Card $2000
Gap Card $1050
Chevron Card $600
Nordstrom Card $500
I've had credit history since about 2004. and the balances are pretty much $0, except for AMEX, it has like a grand (use it the most, i luv AMEX) My current scores are Equifax 709 Experian 709 Transunion 718.
Will keeping the Captial One open hurt or improve? Or should I just close it right away?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: AJ
Posted: Thu Mar 29, 2007 5:52 am
Post subject:
Cap 1 sucks. They don't report limits, just high balance on your reports and you can forget about frequent credit limit increases. I have had a cap 1 card since 2001 . I have been stuck at 10.5k. They won't lower my rate, therefore I have a zero balnce with them. Unless you just have to have it , carry on!
Author: angelo21
Posted: Thu Mar 29, 2007 8:31 am
Post subject:
Many have had a mixed experience with Cap 1. I personally don’t have one of their cards, my wife does.
If you plan to travel abroad you may want to keep it simply because they have no transaction fee.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Brammy
Posted: Thu Mar 29, 2007 9:06 am
Post subject:
Don't forget that they only report QUARTERLY according to their rep. I maxed mine out to show a limit and paid it off first statement now it will report maxed out for the next three months Killing my FICO
Author: direred
Posted: Thu Mar 29, 2007 6:27 pm
Post subject:
They do report monthly, it's just that their reporting to EQ is behind.
They also report highest limit ever, not at statement close.
Oh, and they're supposed to be reporting limits by the end of the year.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: artcubed
Posted: Thu Mar 29, 2007 6:59 pm
Post subject:
I've had a mixed experience with Cap1.
Yes, it only reports high balance, but if you max it out and pay it off, that problem also goes away. I also read that most FICO calculations are now excluding cards that don't report limits.
The no foreign transaction fee is nice indeed.
In my experience, they only report quarterly if you have a 0 balance, if you have a balance they will report monthly. So if you're going to pay off a balance you have on there, pay it down to $5 then pay it off completely to get it to report more quickly.
You might be able to get a CLI, just call up and ask to cancel, citing the credit limit as the reason. This got them to double the limit for me.
A mixed bag indeed.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Labels: Benifits of Capital One Visa Credit Card, No Foreign Transaction Fees Credit Card
posted by CardRatings.com at 9:40 PM
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