Cap One Offer

[Anonymous]

Hi, I received a "pre-selected" offer for the Cap One No Hassle Plat. MC card today. It has a $19 ann. fee and 0% interest till 4/08.

My question is, I heard somewhere that Capital One will report your CL as being the first amount you charge, vs. the actual credit limit? I'm not sure if that is right at all, but for example, if your limit is $300, and you charge $20 they will report that as your limit??

That doesn't sound right to me but somebody correct me if I'm wrong. I wanted to apply for this card as a rebuilder card as soon as my collections are off my report as they will be soon and I was curious about how they report.

Thx...

[Anonymous]

OK I just read on here to avoid them like the plague..that they don't report limits!

[Anonymous]

They now report credit limits, they are a better alternative than the like of orchard and first premier.

[Anonymous]

OK thanks, then maybe I will give it a try!

[Anonymous]

Why get a Cap1 with an AF? Compare with the other cards they offer on their site because they do have one for limited or poor credit with no AF. Also, Cap1 is not necessarily better than Orchard if you go with Orchard's 2% cash back no AF card. Try this link to see if you're pre-approved for the one with no AF: https://www.hsbcapply.com/start/orchardbankfoxtrot

[John060675]

Elexi21,

What is your situation?  Scores?  Baddies?  etc?

You might be able to get a better CC than both Cap 1 and Orchards.

[Anonymous]

Well, I have 3 medical collections (less than a year old) that have agreed to a PFD, the amounts are $1800, $941 & $347.  I will be paying these off and have them deleted off my report hopefully by the end of November. 

That will leave me with two paid collections (1 - $15 NSF check that was paid in 2004 and a $45 med. collections paid earlier this year - I am working on getting both of those removed as they are only showing up on EQ).

I also have a lot of late payments, some 90 day ones that are as recent as 3 months ago.  I have sent GW letters to everyone and am on my second round of them with some.

So I thought the Cap One might be a good place to start once the collections are off.  I already have a Orchard card with a $300 limit that I am trying to pay off.

But, I also belong to a credit union so I may try with them too...

Thanks everyone for the input

[Anonymous]

Also, last time I checked in early Oct. my scores were:  TU 503 / EQ 496 / EX 500

[Anonymous]

Elexi, please do let us know how this went. I'd love to have that card myself.