Is Cap One in the christmas spirit?

[morganirish]

I have a Cap One card with a 300. limit.  I was late 3 times in 2007.  Sent gw letters, always get the usual, "appreciate your business but the lates can't be removed".  this morning I go to my accont on line and it says I have a balance of 2,300.  So, I freaked out and called them because I have not asked for a limit increase,  and the woman I spoke with said that they periodically review credit and if it is good then they automatically do an increase. In my case 2,000.  I didn't dare mention the lates, but they must know, right?  And, maybe now is a good time to ask for a GW or should I just ride it out?  Will this be a hit on my credit score?  Is this typical of Cap one?  Sorry, lots of questions but, I didn't expect it and like I said it freaked me out a little.  Anyone have any thoughts? 

As of this am my scores are TU 724 and EQ-716.  

[DI]

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@morganirish wrote:

I have a Cap One card with a 300. limit.  I was late 3 times in 2007.  Sent gw letters, always get the usual, "appreciate your business but the lates can't be removed".  this morning I go to my accont on line and it says I have a balance of 2,300.  So, I freaked out and called them because I have not asked for a limit increase,  and the woman I spoke with said that they periodically review credit and if it is good then they automatically do an increase. In my case 2,000.  I didn't dare mention the lates, but they must know, right?  And, maybe now is a good time to ask for a GW or should I just ride it out?  Will this be a hit on my credit score?  Is this typical of Cap one?  Sorry, lots of questions but, I didn't expect it and like I said it freaked me out a little.  Anyone have any thoughts? 

As of this am my scores are TU 724 and EQ-716.  

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Consider yourself very fortune to have received a CLI from Cap 1.  It's a rare occurence...especially for that amount.  

Do you have a CL or balance of $2300?    You mentioned you have a card with $300 limit, and later mentioned you have a balance of $2300.  If that'correct,  you are way over the limit.  

[BungalowMo]

I hope they meant that is the available credit now. 

[morganirish]

Sorry for the confusion.  Yes the 2300.00 is the credit limit.  I don't charge much on that card because it has/had such a low limit.  And when I do use it I usually pay it off the same week.  Lately I have let 5. to 10.00 report.  But isn't this really strange?  Especially for Cap One, which was why I called them, because at first I thought serious error.   I still can't believe it.  I am wondering if  they did a hard pull, and if the new credit limit will hurt my score.  Really strange.  I will most likely still only use it for nickel and dime stuff, and I really wish they would remove the lates from my CR.    Wouldn't you think they would send me something in writing? 

[Romeoo47]

Congrats on the CLI!

[morganirish]

Thanks, it's still weird though.   I guess it is amazing what happens when we don't ask.