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New Contributor
overwhelmed_2010
Posts: 93
Registered: ‎07-26-2010

Re:approved through Old Navy/VISA but don't understand??

Can you please explain to me why cap one is stingy?? what does that mean?? sorry not credit card sappy

Last app 10/12
**no app'ing till 10/14 or more***
Mega Contributor
Creditaddict
Posts: 18,807
Registered: ‎10-23-2007

Re: Approved through Old Navy/VISA but don't understand??

The most popular right now is Zync by American Express and Citi Forward.

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
New Contributor
overwhelmed_2010
Posts: 93
Registered: ‎07-26-2010

Re: Approved through Old Navy/VISA but don't understand??

Thanks getting to have a better insight!

Last app 10/12
**no app'ing till 10/14 or more***
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Re:approved through Old Navy/VISA but don't understand??

 


overwhelmed_2010 wrote:

Can you please explain to me why cap one is stingy?? what does that mean?? sorry not credit card sappy


 

We don't know why; they just are. They do have one or two cards with great CL's, but the majority are quite low, and they will not grow with you over time.

 

Since you're rebuilding, I'm going to contradict everyone else here :smileyvery-happy: and suggest that you stop now, with your three cards. Keeping on will just get you more low-limit cards and/ or declined.

 

Work these three and let six months' worth of history report on them all. Pull your FICO scores then and see where you are. Depending on your scores, you might then want to go for an additional GEMB card, as apparently they are good to their good customers. If your scores are really recovering by then, you might want to think about Zync and similar cards.

 

But three open cards are all you need to build good credit history, no matter what the CL's (credit limits) are. Be sure to read here about how much util (revolving utilization; balances reported divided by credit limits) and how many cards with balances you should let report. It doesn't really matter while you're building history, which is the next six months, but you'll want to control what is reported to the credit bureaus before apping again.

 

Congrats on the nice start!

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
New Contributor
overwhelmed_2010
Posts: 93
Registered: ‎07-26-2010

Re: Re:approved through Old Navy/VISA but don't understand??

Thanks a bunch!! I will print this out as a "reminder". I need all the support I can get and it looks like I got it :smileyvery-happy:

Last app 10/12
**no app'ing till 10/14 or more***
Regular Contributor
ty101
Posts: 198
Registered: ‎12-12-2007

Re: Approved through Old Navy/VISA but don't understand??

I got this card in June with a CL of 2,200.  I also have a Target card that I opened in 4/08 with a 200 CL,  In July 08 I got a CLI of 300 and a few months ago Target was giving out CLI and I got a 500 increase, it now sits at 1,000 CL after two in a half years.

New Contributor
overwhelmed_2010
Posts: 93
Registered: ‎07-26-2010

Re: Approved through Old Navy/VISA but don't understand??

Geez I just guess that it's THEM that really don't care to have any kind of CLI at all?? Well at least I have a chance to prove myself to the credit world! Thx for your post

Last app 10/12
**no app'ing till 10/14 or more***

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