Credit Card Center Advertiser Disclosure†
01-21-2009 03:56 PM
I haven't apped since Nov. 2008, not to long ago, I know. But I have wanted a Discover card for the longest time! So DF (fiance) convinced me to go ahead and give it a try. I app'ed for a Discover Motiva card and got approved with a $3k CL! Now I have a couple of quick questions. I have a few cards in my collection as I am only 21 and my utilization now with the new card is only at 3%. I have a capital one card that I have had for nearly two years and its CL is still only at $750.00 I have tried to up it and I get an automated message that says that reviews are periodic. This is my lowest CL card. With my highest limit at $7k and my next lowest after the Cap1 at $1400. Should I close out the capital one card? Or just sock drawer it, since I can't seem to get a CL increase?
01-21-2009 04:05 PM
01-21-2009 04:17 PM
01-21-2009 07:41 PM - edited 01-21-2009 07:42 PM
I have been using all my cards for small purchases like a video game or gas here and there to keep them all in use. But it's a pain not being able to get a CL increase, after having the card for so long.
I would also read
You should definitely not close this cap 1 card. If you are not paying an annual fee then this card is giving you age history.
Keep it and sock drawer it.
hope this helps
01-21-2009 11:30 PM
01-22-2009 07:46 AM
01-22-2009 07:49 AM
If you ever go out to the movies, use cap 1
For dinners, use another
And another for bills
That can make life a lot easier
This way they all get usage and you are able to PIF as these are things we
can handle if we had to use cash, all things being equal. Do not close it.
When you are 30/31 and you have multiple 10 year tradelines you will thank me
I agree indeed
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.