So I called CapOne...

[Trishco]

Haven't had a cli with them for eons!!  They did give me one this time without an inq...of 300.00 up to 2100.  Oh....ummm....wow.

They "would like to be the favorite card in my wallet"...hahahahah....

Am toying with the idea of paying it off and shutting it down.  About every 6 mos or so I charge something on it, then pif so no interest accrues.  However, I do have 6 years of history with them, and somehow always manage to get my AF removed.

My BoA is coming up on one year next month...as well as several other cards...(home flooded and went on a Lowes app spree) so what kind of damage score wise might I be looking at?  Funny, when I remove their stats from my spreadsheet, my util. is reduced to 10% from 13%. 

Do you think the decrease in util will offset the loss in history pointwise?

I'm not looking to buy a home or car but rather wanting my score to hit 700+ just so I can continue to get cli's on other cards.

Any and all info greatly appreciated!

[Anonymous]

From what I read, I would not close the account. They increased your CL by $1800, which helps Util. I found it odd that removing the TL increased you overall util by 3%... I would recheck your spreadsheet. In today's economy, I would perhaps "sockdraw" the card. Keep it if you already have it. Credit is always harder to obtain when you need it the most.

As far as you app spree. How many apps and where you approved? You will take a small fall for the INQ. If approved for the card, when it hits your CRAs you will fall a tab bit more but you will bounce back within a couple of months. The 700 club is not hit over night. It took me a while to hit 700. And, trust me, 700 matters very little when it comes to CLI. It helps but many variables are also considered, such as ISSUER, DTI, Util, tier and frequency of card use. Remember YMMV.

[unknown_entity]

Cap One is strange about going over a certain amount on their CL's because of their "tier system". To avoid any long droughts without a CLI, just apply for a Cap One card in the next tier above.  You'll find the interest rates are cheaper too along with higher CL's.  Here is a list I found revealing the CL's for Cap One cards...

Capital One® No Hassle Cash Rewards - Execellent Credit - Credit Limit: $500-$15,000
Capital One® No Hassle Miles Rewards - Excellent Credit - Credit Limit: $500-$20,000
Capital One® No Hassle Points Rewards - Excellent Credit - Credit Limit: $500-$15,000
Capital One® Platinum Plus - Credit Limit: $500-$20,000
Capital One® No Hassle CashSM Rewards - Above Average Credit - Credit Limit: $500-$10,000
Capital One® No Hassle Miles Rewards - Above Average Credit - Credit Limit: $500-$15,000
Capital One® Platinum - Above Average Credit - Credit Limit: $500-$15,000
Capital One® No Hassle Cash Rewards - Credit Limit: $300-$3,000
Capital One® No Hassle Points Rewards - Credit Limit: $300-$3,000
Capital One® Standard Platinum - Credit Limit: $300-$3,000
Capital One® Classic Platinum - Credit Limit: $300-$3,000
Capital One® Platinum - (Credit needs improvement or limited credit) - Credit Limit: $300-$3,000
Capital One® Platinum Max - Credit Limit: $300-$2,500
Capital One® No Hassle Cash for Students - Credit Limit: $300-$3,000
Capital One® Platinum for Students - Credit Limit: $300-$3,000
Capital One® No Hassle Miles for Students - Credit Limit: $500-$20,000

See, once your card tops out, it's time to go up the ladder. 

Message Edited by unknown_entity on 04-11-2008 06:21 PM

[Trishco]

Thanks for the responses.

It was already 1800 and they bumped it up to 2100.

My Boa is 10k and between my 2 lowes I have 7500cl..they all turn a year old next month.

I think I'll just sock drawer it as suggested after pif and just nurture my other cards a bit.

Thanks again!

[Anonymous]

Definitely allow them to age... very important!

Message Edited by FaircreditguyFL on 04-12-2008 02:51 PM

[Anonymous]

Great post unknown_entity! That has been needed to be done for a long time.

And they hold fast when you reach the uppermost cl available on their tiers of cards. I've reach the top on both of mine.