Capital One & Bank of America question

[jfkg28]

Which is better Capital One or Bank of America. Also which credit agency do they report to? Im trying to get my TransUnion credit score to jump really high before this spring... so Im interested in the one that will help it the most. Thanks

[Masshole]

Well, what type of card are you looking for? What rewards suit you best? Both institutions have an array of options to choose from. I think, looking at your score, that you will have a higher chance to be approved for a Capital One card, but either bank should report to all bureaus (Capital One does seem delayed at times, but they still report to all bureaus, at least for me).

[mikey78]

Capital One reputation i hear is that they doen't tend to grow with you as your credit gets better so even if you plan on using their card and get a better card nd then try to convert it to the new card they will not do it (i tried and they said the econcomy and the contract apr are different blah blah)

they say they review your account periodically but that's all they do and i know because i will see them on my credit report time to time as soft pull but my credit limit has been stuck at 2500 since 2007 when i opened and they declined my CLI 3 times as of date

Boa i can't really say much because i had one card before applying the cash rewards but they didn't let me transfer the history of my old cc of 10 years to my new card but to make up they increased my CL to 5000. instead of transferring the 500 CL i had on the first card

[Masshole]

You are right in that Capital One will give you that "conservative lender" speech, but they remain an excellent beginning point for anyone with low or starting credit (plus, their other, more creditworthy cards do actually grow a little better than the Journey/secured cards). Bank of America does not share that latter view. They tried to give me a secured card before I called them and sat on the phone for an hour, and I have had a bank account with them for years.

[eddie84]

I have quite the opposite experience with BofA but then I again, I'm not sure whether my 15 year banking history with them play any part in that.  Recently I was approved for their Travel Rewards card with 5k starting CL.  Their CSR gave me a courtesy call, went over all the benefits, asked me if I have any question, etc.  It was quite a good experience (she was very polite and accommodating).

Cap1 on the other hand, I've been with them also more than 10 years, with 2 cards no less.  During those 10 years there were no call, no CLI, nothing (plus they were charging me some member fee/AF or whatever they call it).  I closed both of them down and couldn't be happier.  Maybe they have gotten better since then..  who knows. lol

[jfkg28]

BOA denied me for an unsecured credit card and I bank with them so it makes since to get a secured CC with them. Capital One I also bank with and just applied for an unsecured credit card and was approved for $200 with 200 limit i think. So it seems like i gotta get the secured CC to build up my credit. But i heard that some places only report to one agency. So I want to double check on that subject before i throw cash at them.

[Masshole]

Both of these institutions will report to all three bureaus, but I wouldn't necessarily go for the secured card if I were approved for an unsecured card elsewhere. I would allow my history to build and then re-apply sometime within the next year or two. Either way, use the cards responsibly and intelligently--no worries will accompany you.

[azguy13]

When my score was in the low 600s in 2010 I applied for the Cap1 Platinum unsecured and received a $750 CL. Then, after a few months of on time payments, I recieved a CLI to $1750. It has been 3 years since then and I just now received a CLI when I PC'd to the Quicksilver. Moral of the story: Cap1 will help you out when you need it most but wont grow with you when you are in the market for prime cards from other lenders. 

[goosedog]

CAP1 is the worst secured card out there. There are 10 other cards i would suggest someone apply for before I even put them into consideration. You have to have rabbies or something to look at CAP1 for credit.

[HiLine]

I don't have any personal experience with Capital One, but I'm pretty vested in Bank of America. I have only good things to say about them. I got my secured card with them. After a year they unsecured my card, got rid of the annual fee, halved the APR, and gave a 500% credit limit increase. My concerns have all been resolved in a timely manner.