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Capital One card and my score

New Member

Capital One card and my score

The only revolving item on my report is my Capital One card. Currently it has $500/$750 on it. I plan on paying it down to next to nothing here shortly. Do you think by doing this it will make much or any difference in my credit scores?

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Valued Contributor

Re: Capital One card and my score


Bad_Credit_Rising wrote:

The only revolving item on my report is my Capital One card. Currently it has $500/$750 on it. I plan on paying it down to next to nothing here shortly. Do you think by doing this it will make much or any difference in my credit scores?


Considering it is your only revolving item, it definitely will! However, don't expect a 50+ jump in your scores, especially if you already have baddies on your report. Your FICO will round out a lot better once you have 2-3 revolving credit lines and at least 1 installment loan. Don't feel pressured to jump on those right away, though. Slow and steady wins the race!


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
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New Member

Re: Capital One card and my score

I have the Capital One card and also my mortgage and a student loan that will be coming off forebearance in May. According to my last credit report(experien I think) The only baddies I have are my BK from Apr. 2005 and a small collection from Verizon wireless and thats only like a 50.00 one. I have I think 2 inquiries in the last 2+ yrs. 

 

My credit was terrible, like the low 500's but now is up to 680 as of a few days ago!

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Contributor

Re: Capital One card and my score

I just paid mine off from 300 to zero and my score went up 20 points. It will definitely affect it.

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EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
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