rudy wrote:
since capital one does not report the credit limit of cc's. which may or may not show a low utli. I was wondering if a person was to charge (max it out) and the nreturn everything would that help. I know it would show that you have maxed out your cc. But on the other hand you are returning everything, so it would go back to the normal dollars owed. But showing a high credit or credit limit.
How would something like this effect a person trying to rebuild there credit
People used to use that type of method to get the CL to show...there were a few ways to do it painlessly. Cap1 now reports the credit limit! If yours is still not showing on your current reports, try giving them a call first and see if they can report it for you. Otherwise, the best way to get it to report is to use one of their no fee courtesy checks when they send them... the ones that state in the disclosure that they are treated just like a purchase and don't start generating interest immediately. Just don't put your max limit on the check unless you very much understand how this works and don't have any other charges or fees coming in so that in case another charge generates, you will have gone over the limit which is bad credit wise and costs you fees.
Also, with that route it is important that you do it maybe a week before your billing date, wait for the new statement to generate with the amount so that it gets reported, then pay it off with the cash that cleared in the bank from deposting that check.
Edit: add'l info
Message Edited by SmartCookie on
09-29-2007 03:36 AM
EQ 787 EX 781 TU 737 11/17/07
*** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
