topic Re: Cap One Question in Credit Cards

Cap One Question

Anonymous — Mon, 27 Aug 2007 13:27:07 GMT

Since CapOne doesn't report the CL it appears that the utilization may always be high. So, my question is: Does the utilization calculate the total of all cards or is it on a individual card bases?

Re: Cap One Question

Anonymous — Mon, 27 Aug 2007 13:55:25 GMT

Both-
But overall UTL is more important.

Re: Cap One Question

Anonymous — Mon, 27 Aug 2007 15:02:16 GMT

credit4me wrote:

Since CapOne doesn't report the CL it appears that the utilization may always be high. So, my question is: Does the utilization calculate the total of all cards or is it on a individual card bases?

The trick to force your credit limit to report per se is to max out the card (using a purchase check) BTW make sure it is a pruchase check and not a CA check. Deposit directly into your bank and pay it off online the minute the check hits your Cap One account. I know hasle right? But until Cap one reports limits, this is the only work around avail.

Message Edited by Brammy on 08-27-2007 11:02 AM

Re: Cap One Question

Anonymous — Mon, 27 Aug 2007 15:07:10 GMT

credit4me wrote:
Since CapOne doesn't report the CL it appears that the utilization may always be high. So, my question is: Does the utilization calculate the total of all cards or is it on a individual card bases?

The following quote was taken from my Scorewatch report from MyFICO.com:

"This credit usage ratio is one of the most important factors to your FICO score, so you should work on paying down your balances. Your FICO score looks at the ratio of revolving debt, but not in which accounts the debt resides. Therefore, consolidating or moving your debt from one account to another will usually not help your FICO score since the same total amount is owed."***

***FICO Report - Equifax / Dated 08/26/2007