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Paid off Cap One Balance!

Regular Contributor

Paid off Cap One Balance!

Its def a small victory for me, but I got one of my 2 Cap One cards paid to a $0.00 balance! That puts me at a %33-34 utz on my 3 combined cc down from %86 last week! Hoping for a nice increase and attempting to pay off another Cap One this week. This board has been stupendous and supportive, not just to me or others who have let their credit get out of control, but to everyone showing an initiative to rebuild. I can't thank everyone who post solutions/advice enough including a couple members who have went above and beyond to explain certain "situations" to me!

Message 1 of 9
8 REPLIES
Valued Contributor

Re: Paid off Cap One Balance!

Congrats, stick with it and you will be happy you did!

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
Message 2 of 9
Highlighted
Frequent Contributor

Re: Paid off Cap One Balance!

I'm about to go down in utility same as well.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


Take the myFICO Fitness Challenge
Message 3 of 9

Re: Paid off Cap One Balance!

I paid off my Capital One balance today too and am officially credit card debt free. It feels great.

Discover IT $2000 CL | Amex BCE $500 CL
Wishlist: Citi Double Cash, Chase Sapphire Preferred, BOA BankAmericard Travel Rewards, Wells Fargo Platinum
Message 4 of 9
Regular Contributor

Re: Paid off Cap One Balance!

Congrats! that is the best feeling in the world

Starting: 6/2012 : EX: 485(FAKO) EQ: 490(FICO) Trans: 482(FAKO)
Current : 4/2014: EX: 650(FICO) EQ: 664 (FICO) Trans: 681 (FICO)

Cards: NPSL Amex Green (AU), $11500 Discover IT, $4000 Quicksilver One, $3500 Bank of America Travel Rewards,$3000 Amex BCE,$3000 Quicksilver One, $3000 AA, $2500 Sallie Mae MC, $5000 Citibank AA, $1500 Barclay, $1200 Macys
~Back to the Garden~

Goal Score: 700 Across!

Gardening til 8/2014!!
Message 5 of 9
Frequent Contributor

Re: Paid off Cap One Balance!

Congrats!


Starting Score: No credit history in July 2013, 663 in August (lender pulled)
Current Score: 773 (Discover FICO), 749 (DCU EQ)
Ultimate goal: Buy a house in 2016!
Message 6 of 9
Moderator

Re: Paid off Cap One Balance!


CBARR82 wrote:

Its def a small victory for me, but I got one of my 2 Cap One cards paid to a $0.00 balance! That puts me at a %33-34 utz on my 3 combined cc down from %86 last week! Hoping for a nice increase and attempting to pay off another Cap One this week. This board has been stupendous and supportive, not just to me or others who have let their credit get out of control, but to everyone showing an initiative to rebuild. I can't thank everyone who post solutions/advice enough including a couple members who have went above and beyond to explain certain "situations" to me!


Good job, good luck Smiley Happy

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 7 of 9
Valued Contributor

Re: Paid off Cap One Balance!

Congratulations! Once you have them paid off, I'll bet you'll feel relief from stress you might not have even really been aware of having! Can't wait to hear how much your scores bump up, and hear of your successes getting CLIs due to doing this! You must feel terrific right now!

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700   Seedling again as of 07/29/14
Message 8 of 9
Frequent Contributor

Re: Paid off Cap One Balance!

Also, if you keep track of your credit score, it will fun to watch it make a step change straight up when those balances report. I paid off my discover card and my utilization dropped from 35% and my score went up 27 points. It's defeintely a rewarding feeling in more ways than one. Congrats!! 

March 2014: EX 693 I EQ 672 I TU 694
September 2014: EX 721 I EQ 741 I TU 742
Message 9 of 9