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m_jonis
Posts: 76
Registered: ‎06-30-2007
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Cap One cash advance checks - how to raise limit without hurting score?

Okay, Crap One is still not reporting credit limits (they only report high balance still)

 

I've got some Crap One checks with NO fee.

 

I was going to write a check to myself for close to my credit limit and then pay it back right away.

 

The question:

 

Do I have to wait for that full balance to close (ie, leave it on the card for statement closing date) and pay it off immediately after in order for it to show up as "credit limit"?

 

My only concern is that it'll show up as a balance of that much and zing my FICO score (maxed out card).

 

but I'm not sure if I can just get the balance (before closing date) to max out and pay it off, so that statement closing date balance shows zero and yet still have it show my "high limit"/

Finally made it to 813
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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Cap One cash advance checks - how to raise limit without hurting score?


m_jonis wrote:

Okay, Crap One is still not reporting credit limits (they only report high balance still)

 

I've got some Crap One checks with NO fee.

 

I was going to write a check to myself for close to my credit limit and then pay it back right away.

 

The question:

 

Do I have to wait for that full balance to close (ie, leave it on the card for statement closing date) and pay it off immediately after in order for it to show up as "credit limit"?

 

My only concern is that it'll show up as a balance of that much and zing my FICO score (maxed out card).

 

but I'm not sure if I can just get the balance (before closing date) to max out and pay it off, so that statement closing date balance shows zero and yet still have it show my "high limit"/



For everyone else around here, Cap 1 has been reporting limits since some time in fall 2007.

Does yours not report? What exactly is it?
* 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
Contributor
m_jonis
Posts: 76
Registered: ‎06-30-2007
0

Re: Cap One cash advance checks - how to raise limit without hurting score?

No, cap one has NOT been reporting the limits since 2007.

 

I've contacted them several times in 2008 (after they "supposedly" were doing this).  They still have yet to fix it.

 

They only show high limit.

 

I had a 7500 limit, they never reported that.  Just a high limit of 5800.

 

I got a 3000 CLI (10,500 limit now) in March of 2008.  they still only report a high limit of 5800 for my credit limit.

 

This, despite 3 calls and one written request that they notify the credit bureaus of this information.

 

 

Finally made it to 813
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Cap One cash advance checks - how to raise limit without hurting score?

Wow, I thought they'd finally gotten the bugs out; sorry.

Did that $5800 ever post as a statement balance, or was it an "intra-cycle balance", a high balance paid down/ off before statement time, and never reported.

I know that American Express has never reported my high balance on my Gold; just what reports, which is irritating. But all my other cards have reported the highest figure I ever owed, whether on the statement or not.

If the $5800 never reported, but it shows anyway (as it should), then you should be able to write the check, make sure it displays in their system, and then pay it off immediately. I would do this immediately after your most recent balance is reported.

But Cap One get eccentric, so I'd keep my fingers crossed.
* 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
Contributor
m_jonis
Posts: 76
Registered: ‎06-30-2007
0

Re: Cap One cash advance checks - how to raise limit without hurting score?

The 5800 was a closed statement (0% for 12 months).

 

 

That's been paid off, so the balance is reported as zero, but the CL is still reported as the high balance.

 

Apparently some people are lucky that cap one is reporting the actual limit (but perhaps they maxed the card out)?

 

Amex is a bit odd too (I've got one and know what you're talking about).

 

Although I suppose worst case, it zing my FICO score and then next month it shows paid off, so it should go mostly back (not quite all the way).  I'm not planning on seeking credit for the next 6 months anyway.

Finally made it to 813
Established Contributor
fevmlo
Posts: 640
Registered: ‎03-28-2008
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Re: Cap One cash advance checks - how to raise limit without hurting score?


m_jonis wrote: 

 

Apparently some people are lucky that cap one is reporting the actual limit (but perhaps they maxed the card out)?

 


CapOne reports my limit, and I've never, ever had a balance of more than 20% on the card at any point. They've always reported my limit. I got the card in September 2007, which was right around the time that they finally relented and agreed to end their practice of reporting high balances in the place of the credit limit. They caught a lot of flak for the fact that they didn't report limits, and were pretty public about the fact that they were going to report properly from then on - so they really should do something about the fact that they're reporting your account all wrong each month.
I don't imagine you'd get much joy from a frontline CSR, but have you tried calling the backdoor number on the thread stickied at the top of this forum? The people in that department may not be the right ones to fix this, but I think you'd have a better chance of getting someone to listen and acknowledge that something is definitely wrong, and that you're not comfortable using your card when it puts you at a disadvantage, FICO-wise, to do so. You shouldn't have to mess around with maxing out your card to get the limit to report - they should just report properly in the first place. 

 

EQ: 723 / TU: 760 (August 2009)

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