topic Re: Questionr in Credit Cards

Questionr

kc12286 — Wed, 04 Jun 2008 22:45:28 GMT

I recently tried to apply for a Juniper Visa and was denied because "balances too high on revolving accounts". My question is, if I pay down my other cards, which I have any trouble being approved for another card? Ot would it be better to ask the card companies to extend my limit. The only problem with that is one of my cards is from Capital One and their notorious for not extending limits. I could probably get one of the other limits extended. I've never been denied for a card before, except Amex and that's a hard one to get anyway. My score are pretty decent that last time I checked them I think it was in the 700s. But I don't have a very long credit history, my oldest card is from Aug 04, I think.

Re: Questionr

Anonymous — Wed, 04 Jun 2008 23:01:52 GMT

how long have you had the cap one card? ever been late? over the limit? I've had mine for 7 months, got the credit steps at 4th statement, never late or over limit but had high util. just called back door number and got an increase from $500 to $1000

Re: Questionr

kc12286 — Thu, 05 Jun 2008 05:15:39 GMT

I've had the Cap 1 the longest, since 04. They did increase it once from 400 to 650, but that was a few years ago. I did them to drop my APR, but that was a while ago too. I'm currently paying down a balance on that card as well as my Commerce Bank card, so I won't be applying for anything right now. I guess my question is, is it better to apply for another card or to try and get increases on Cap 1 and the Commerce card? Cap 1 is currently 650 and Commerce is 500. Neither does me much good because the CL are so low. I have a Mastercard with chase that's 5000 and an Amazon Visa with a CL of 1000. If I can get Cap 1 and Commerce to increase the limits, I'd rather do that than get another card.

Re: Questionr

Anonymous — Thu, 05 Jun 2008 05:28:25 GMT

call the back door number for cap one and see what they will do for you. if they approve a cli then I would call back every 3 months until the limit gets where you want it to be. cap one seems to just go off the history you have with them once you are a customer so as long as you have maintained a good history, you should be fine.

Re: Question

kc12286 — Thu, 05 Jun 2008 05:39:58 GMT

Thanks. I think I'll wait until I pay it down. I'll probably call around the end of the summer. I think it would be stupid to call right now while I still owe them money.

Re: Question

Anonymous — Thu, 05 Jun 2008 05:49:33 GMT

lol Just call, its not going to hurt anything. I was at 98% utilization on both of the cards that I have with them and they still approved it

Re: Question

kc12286 — Thu, 05 Jun 2008 06:12:37 GMT

I'll give it a shot then, thank you. Cap 1 is hard though, I applied for an increase once before and was denied and than they increased it on their own a few months later. But I'll try anyway. Maybe I'll try Commerce around the same time. If I can get an increase of a few hundred, that would be good. Thanks for your help.

Re: Questionr

Anonymous — Thu, 05 Jun 2008 06:29:00 GMT

Your scores are high enough (and would likely gain another 10 to 15 points if you paid the balances down) that you shouldn't have a problem. High util can make CCCs really gun-shy about raising limits. Get it down below 20%, let that be reported, and try again.

Re: Questionr

Anonymous — Thu, 05 Jun 2008 12:05:00 GMT

Well my util was at 98% and they still gave it to me. they probably only did it because I pay it off every 3 months and next month is the 3rd month so it will get paid off again. I use it to pay my insurance every quarter its strange, my insurance company gives a discount for paying every quarter but not every year - weird

Re: Question

kc12286 — Thu, 05 Jun 2008 12:06:16 GMT

Cap 1 is down to 532 from a 650 CL and Commerce is down 393 from a 500 CL. I wasn't planning on doing it right now, but in a few weeks, I probably will.

Re: Question

kc12286 — Thu, 05 Jun 2008 12:10:02 GMT

Your insurance company sounds a little strange. I've been making payments every month usually well above the minimum, but didn't have enough to pay it down all the way. The only issue is, I have a Chase Mastercard and a Amazon Visa also from Chase that are almost maxed, so I'm not sure Cap 1 or Commerce will approve a hike if they know about those two.

@Anonymous wrote:
Well my util was at 98% and they still gave it to me. they probably only did it because I pay it off every 3 months and next month is the 3rd month so it will get paid off again. I use it to pay my insurance every quarter its strange, my insurance company gives a discount for paying every quarter but not every year - weird

Re: Question

Anonymous — Thu, 05 Jun 2008 12:26:11 GMT

I don't think cap one looks at your other accounts as a basis for cli, they just care about your history with them it seems

Re: Question

kc12286 — Thu, 05 Jun 2008 12:38:07 GMT

I'll keep that in mind. I'm thinking about checking my score again with Fico credit complete. It's expensive, but I haven't checked my scores in a while. Now that I know all those Freecreditreport/truecredit are FAKOS, I won't be using those anymore.

@Anonymous wrote:
I don't think cap one looks at your other accounts as a basis for cli, they just care about your history with them it seems