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Re: Question about Capital One and multiple accounts

I just got off the Phone with Cap1 and they are NOT combining cards and it was a FIRM NO, lol. So I guess I'll just use these for UTL ratio until my other CC's mature and will close it out.

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Re: Question about Capital One and multiple accounts

We are both in the same boat. Let the new accounts age, and then break up with Cap1 and move on to greener pastures. lol

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Re: Question about Capital One and multiple accounts

 

I terminated my relationship with them a couple of months ago Smiley Happy. They were unwilling to waive the annual fee on either card, raise the credit limit, lower the apr, combine the two cards, etc...  My scores were unaffected since my utilization was around 2%.

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
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Re: Question about Capital One and multiple accounts

Customer: Im breaking up with you....

 

Cap1 CSR: Why? Is it something we did? Something I did?

 

Customer: Its not you. its me. I just dont feel the same way about you like I used to.

 

Cap1 CSR: Maybe we can work things out? Like in the good ol' days? Youre really going to just quit and walk away?!

 

Customer: I think its for the best. We have outgrown each other. It was fun though, right? 

 

lol

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Re: Question about Capital One and multiple accounts

How the hell did you get your Utl under 2%. I'm in the mid 50%'s right now. This NFCU card is going to do wonders for me but 2% is awesome, good for you! If my Utl is around 50% right now and I keep both Cap1 cards at under 10% total (Each card is $500 CL X 2) and I keep the NFCU card under $700 in balances ($7K CL). how long and by how much do you think my credit should improve. I'm in the mid 640's I believe. How long before I join the 7's? Any Ideas?

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Re: Question about Capital One and multiple accounts

[ Edited ]

jrmarin5883 wrote:

How the hell did you get your Utl under 2%. I'm in the mid 50%'s right now. This NFCU card is going to do wonders for me but 2% is awesome, good for you! If my Utl is around 50% right now and I keep both Cap1 cards at under 10% total (Each card is $500 CL X 2) and I keep the NFCU card under $700 in balances ($7K CL). how long and by how much do you think my credit should improve. I'm in the mid 640's I believe. How long before I join the 7's? Any Ideas?


I have $9400.00 available in revolving credit -- 2 HSBC cards ($900/$2000), a Barclaycard ($4000), and PenFed Visa ($2500). I also have an Amex green card, but it does not factor into my total available revolving credit. I generally keep no more than $100 in total balances at the time the statements are cut ,which puts me between 1-2%. It was not like this before... until about 6 months ago, I carried ~80-90% utilization and on smaller credit lines. Since then, I have paid off my balances, appplied for new credit and closed my starter cards.

 

I cannot say how long it will take you to join the 700 club, but I will tell you that my score jumpped almost 40 points when I paid off my balances and maintained a ~1-2% utilization.

 

 

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
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Re: Question about Capital One and multiple accounts

I never go over 5% util, but then again with about 25k in avail CL its quite hard to use that much anyway. I never spend anymore than I can pay off in full at the end of the month. I have a fear of over extending myself. I made that mistake when I was young, it wont happen again. 

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Re: Question about Capital One and multiple accounts

 


jrmarin5883 wrote:

How the hell did you get your Utl under 2%. I'm in the mid 50%'s right now. This NFCU card is going to do wonders for me but 2% is awesome, good for you! If my Utl is around 50% right now and I keep both Cap1 cards at under 10% total (Each card is $500 CL X 2) and I keep the NFCU card under $700 in balances ($7K CL). how long and by how much do you think my credit should improve. I'm in the mid 640's I believe. How long before I join the 7's? Any Ideas?


 

I'll bet that if you pull a FICO score report, you'll see that your #1 listed negative on screen 2 is high revolving util. If so, that's your indication to attack your balances. I think that our dear friend Dave Ramsey says to do so with "gazelle-like intensity," although I've always thought that it's probably the leopards that are attacking with intensity. The gazelles just run like heck.

 

ANYWAY (sorry! Smiley Very Happy), getting util down is the easiest thing that a consumer can do to improve FICO scores. Easy, that is, if you have the money. Many of us have worked two jobs to get the cash flow going, although that's tough to do these days.

 

If it helps motivate you, go to the last screen on a FICO score report and click on the "Reveal your FICO future" button. Choose the option to pay down your CC balances over 3 months, 6 months, 12 months, etc., and check out the projected score increases. These projections certainly aren't carved in stone, but it can be pretty motivating to see what can happen to your scores once you're in control of your credit, rather than your credit being in control of you. Smiley Wink

* 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
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