topic Re: Capital One Venture Reporting Question in Credit Cards

Capital One Venture Reporting Question

Anonymous — Mon, 25 Apr 2011 22:21:37 GMT

I am thinking of applying for a Capital One Venture card. Does anyone know how they report? Do they report as revolving and do they report a credit limit? I want the maximum beneficial effect to my score since my other cards are either not reporting cls or not reporting as revolving. I haven't been able to get a answer to my question from Cap One for some reason. Thanks!

Re: Capital One Venture Reporting Question

LS2982 — Mon, 25 Apr 2011 22:34:07 GMT

@Anonymous wrote:
I am thinking of applying for a Capital One Venture card. Does anyone know how they report? Do they report as revolving and do they report a credit limit? I want the maximum beneficial effect to my score since my other cards are either not reporting cls or not reporting as revolving. I haven't been able to get a answer to my question from Cap One for some reason. Thanks!

What are your scores when applying?

Re: Capital One Venture Reporting Question

Anonymous — Mon, 25 Apr 2011 22:41:38 GMT

I have the card, it reports has Flex Spending and the limit shows on all 3

Re: Capital One Venture Reporting Question

Anonymous — Tue, 26 Apr 2011 00:48:28 GMT

So is "flex" considered revolving? I have one card (Chase United Visa) that reports as "open" instead of revolving and another (Citi AA MC) that doesn't reoprt a CL so I'm looking for a good card that will benefit my FICO more than these two.....

Re: Capital One Venture Reporting Question

Smarter — Wed, 15 Jun 2011 19:30:49 GMT

I found this thread while searching for info on the Capital One Venture card...I was just able to convert my husband's No- Hassel Reward Card to the Venture card. I see that Plasticguy says it reports as "flex" spending...does this have an effect on utilization? This card is his highest limit (6000), so if that limit does not figure into utilization, I would want to know!

Re: Capital One Venture Reporting Question

Anonymous — Wed, 15 Jun 2011 20:05:49 GMT

Not to hijack your thread, but how on earth did you get Capital One to change your card?

I've had the same card for over two years and wouldn't mind changing. Every time I call and ask, the reps are like "Well, apply and see if you get approved".

-K

Re: Capital One Venture Reporting Question

TanterBeans — Wed, 15 Jun 2011 20:15:47 GMT

I was just thinking the same thing!!! I didn't know you could "upgrade" your card with Capitol One???? Wow! Nice!

Re: Capital One Venture Reporting Question

Smarter — Wed, 15 Jun 2011 20:24:37 GMT

Well, I am obsesive/compulsive and check EVERY DAY on the tab that says "modify your features" when you are logged into your account. I was able to upgrade my card about a year ago to a cash back reward card, but my husband has never had an offer. It always says "no offers are available for this account at this time. Please check back". So this morning, it pops up that he has an upgrade offer to the Venture. We travel alot and have to fly kids home alot, so it sounded like a good idea. I am a little worried about this whole signature thing though. We generally don't carry balances, but this card is his highest limit--6000.00, and I really want that to report just in case we ever decide to carry one.

I was shocked last year when I logged into his account and saw it had gone from 1000 to 6000. Mine is only 3500 and I have a higher score than he does. Cap 1 seems to like him--no idea why...he still has a number of old negatives on his report. All are over 3 years old and most older than that.

Re: Capital One Venture Reporting Question

TanterBeans — Wed, 15 Jun 2011 22:58:03 GMT

Okay, who wants to take bets on how many myfico members that have Capitol One cards are logging in right this minute to see if there are any special offers on that tab? LOL

I just did. Nothing "we have no offers for you...."

Good to know that tab is there though. I'm going to keep an eye on it!!

Thanks for the info!!!

Re: Capital One Venture Reporting Question

Smarter — Wed, 15 Jun 2011 23:04:45 GMT

I can't tell you how many times I have checked and had nothing! I am sure my mouth dropped open this morning when the offer appeared. I would have never known to check either, but I read it here on this forum a long time ago. We both have climbed out of the pit of bad credit, so if we can get an offer, anybody can!

Re: Capital One Venture Reporting Question

TanterBeans — Wed, 15 Jun 2011 23:16:30 GMT

@Smarter wrote:
I can't tell you how many times I have checked and had nothing! I am sure my mouth dropped open this morning when the offer appeared. I would have never known to check either, but I read it here on this forum a long time ago. We both have climbed out of the pit of bad credit, so if we can get an offer, anybody can!

Well, when I was on my account I decided to go ahead and apply for the No Hassle Cash Rewards (have the platinum). I now have 2 cards with them and you betcha I will be checking regulary this year to see if I have any offers. Congrats again!!!

If you don't mind me asking, what kind of range is his score right now? Just trying to get an idea how far away I am

Again, congrats!!!!!!!!!!!

Re: Capital One Venture Reporting Question

Smarter — Wed, 15 Jun 2011 23:38:49 GMT

I have us both signed up with Scorewatch, so Equifax is the only real fico that I have for him. It is 688 right now--that from the high 400's back in 2007. He got the card as a credit step card with a 300 limit 5/2008. It went to 1000 not too long after that and then 11/2009 jumped up to 5000 automatically.

I wonder sometimes if it is the fact that he puts alot of travel through it that he gets reimbursed for and pays off right away. Or, the fact that he does not really have alot of credit. An Orchard with 500, Amazon with 800 and a second Capital One that he opened 7/2010 that is another credit steps and has been sitting at 750 for quite some time.

His credit report still shows a foreclosure and paid charge off car loan from 2006, as well as 7 other late payments and 1 other paid collection. It has been clean since 2007.

My score is 718 and I didn't get an offer. My Cap 1 has a 3500 limit. But I have alot of open credit--too many store cards and a Hooters and BOA. Hope all that helps..I just don't think there is any rhyme or reason.

Re: Capital One Venture Reporting Question

Anonymous — Wed, 15 Jun 2011 23:49:07 GMT

Just tried to change my features I got:

Offers are not currently available for this account. Please check back at a later time as we update offers periodically. Some reasons that offers are not available at this time could be that your account status may have changed or you may have accepted another offer from Capital One to change this account.

Thank you for being a valued Capital One cardholder!

Re: Capital One Venture Reporting Question

Smarter — Tue, 21 Jun 2011 22:47:04 GMT

I thought I would add a quick update in case anyone happens to want this information. When Capital One upgrades an existing account to the Venture card, It becomes a World Mastercard, not a Signature Visa. The CSR told my husband that if they changed it, it would need a new account number and would be a new account, meaning you would get the annual fee waved and the bonus mile offer that new accounts get. The upgraded card gets all of the same perks that go with the Venture except the new account perks. I am not really sure that is true..the Signature Visa seems to have more perks than the Worls Mastercard. Well, either way, it is a better card then he had, so no complaints.

To top it off, the CSR asked my husband if he would like to see if he was eligible for a CLI his 750.00 credit steps card that has not moved in quite some time. My husband said yes, and the CSR asked how much he would want. He answered "it would be nice to get it to one thousand". So, they GIVE him 1000 and the card is now at 1750.00. Go figure.

Re: Capital One Venture Reporting Question

Anonymous — Wed, 22 Jun 2011 02:53:14 GMT

@Smarter wrote:
I thought I would add a quick update in case anyone happens to want this information. When Capital One upgrades an existing account to the Venture card, It becomes a World Mastercard, not a Signature Visa. The CSR told my husband that if they changed it, it would need a new account number and would be a new account, meaning you would get the annual fee waved and the bonus mile offer that new accounts get. The upgraded card gets all of the same perks that go with the Venture except the new account perks. I am not really sure that is true..the Signature Visa seems to have more perks than the Worls Mastercard. Well, either way, it is a better card then he had, so no complaints.

To top it off, the CSR asked my husband if he would like to see if he was eligible for a CLI his 750.00 credit steps card that has not moved in quite some time. My husband said yes, and the CSR asked how much he would want. He answered "it would be nice to get it to one thousand". So, they GIVE him 1000 and the card is now at 1750.00. Go figure.

Major congrats!!!!!

Cap1 seems to be in a benevolent mood lately. I just received a 1400 -> 6400 CLI last week on an old Visa Platinum. I'm hoping that they'll upgrade it to a Venture in the future. I spoke with a CSR last week about this and he made a note on the account so that it might be considered at my next account review. Your post gives me hope.

I wonder why they're upgrading to a World MC, though? The Venture is advertised as a Visa Signature. ???

Re: Capital One Venture Reporting Question

Smarter — Wed, 22 Jun 2011 12:54:24 GMT

Well, from what the CSR said, if it was changed to a Visa it would be a new account and not an upgrade. They are waving the annual fee and offering some bonus miles for new accounts. I imagine they don't want to offer those things for an upgrade...just a guess. This way it stays a Mastercard with the same account number.

Re: Capital One Venture Reporting Question

Anonymous — Wed, 22 Jun 2011 15:49:29 GMT

@Smarter wrote:
Well, from what the CSR said, if it was changed to a Visa it would be a new account and not an upgrade. They are waving the annual fee and offering some bonus miles for new accounts. I imagine they don't want to offer those things for an upgrade...just a guess. This way it stays a Mastercard with the same account number.

Ok, so your DH upgraded a MC... gotcha. Mine is a Platinum Visa, opened back in 1999. If they do eventually upgrade it, then I would think they would give me a Signature Visa, which would allow me to stay on the same network and keep the account number. Thanks for the info!

Re: Capital One Venture Reporting Question

Scuba — Wed, 22 Jun 2011 23:07:38 GMT

I have logged in for years and no offers until today!

I was offered to change my starter card to the Venture card but my question is if it changes account numbers, will they back date the new card to 2008 or will they use today's date?

Re: Capital One Venture Reporting Question

Smarter — Wed, 22 Jun 2011 23:30:07 GMT

Well, from my experience they just upgrade and don't change the account number. My starter card upgraded to a cash reward card a while back and the reporting all stayed the same. My husband was told that his new Venture card will be the same account. His original card is a mastercard and the Venture will be one also. The only thing I don't know yet is if this World Mastercard reports differently like the Signature Visa sometimes does. I have not really found alot of posts on it. But I think the opening date will stay the same from what he was told when he called. Congrats!

Re: Capital One Venture Reporting Question

Smarter — Sat, 10 Mar 2012 21:59:04 GMT

I went back and found this old thread so that I could add my good news. We just cashed in $750.00 of travel points after using this card for about a year and paying zero in interest. I am so excited! We have been running absolutely everything through the card since we got it, subtracting from our checkbook as we go so we never spend too much, and paying in full every due date. Considering where our credit was a few years ago, I am just sooo happy. I still have no idea how or why my husband got the upgrade from Capital One, but it has paid off nicely. Now we need to start from zero again and prepare for travel for next July for my daughters wedding! Thanks so much to everybody who shares on this forum. I don't know where we would be without it.