The Credit Paradox

Anonymous · ‎07-26-2019

Perhaps someone can help me understand this. I’ve been through the ringer trying to get Cap1 to increase the limit on my spark card to be able to use it like I need to for my business.

This is what I heard the other day:

“What CapitalOne would like to see from you is more usage. We monitor how close you get to your limit and that factor helps us determine your credit line. We also want to see you manage your card responsibly, which I see you’ve been making multiple payments and paying in full, keep that up!”

So let me get this straight. They want me to near my limit, improving my personal chances of credit issues (utilization, failure to pay, going over limit, etc.), while at the same time you want me to manage my card responsibly (which nearing the limit is NOT responsible) which makes you no money but will help me progress to a higher credit limit?

These credit companies criteria are so confusing.

woodyman100 · ‎07-26-2019

...and we are tasked to dance upon the razors edge.

Slight my end that my heart should lay as this and my body should crumple as thus.

excerpt from “Credit card companies suck” Woodyman100

NFCU-ICCU-EECU-PSECU-DoverFCU-DCUFCU-Union Square FCU-Signature FCU-AODFCU-RedstoneFCU-USAllianceFCU-Amarillo National Bank-BHG MC-CapitalOne-CapitalOne Biz-Regions-Goldman Sachs (Apple/GM)-Evolve-Fifth Third-Gemini-Huntington-Imprint-USBank-Pinnacle-Cardless-John Deere-Discover-BofA-BofA Biz-Celtic Bank (M1)-Chase-Chase Biz-Amex-Amex Biz-Wells Fargo-Commerce-FNBO-Citi-Citi Biz-Synchrony-Synchrony Biz-Target TD-Third Coast Bank-USAA-Amegy-Amegy Biz-Dell-Citizens Biz-Comenity-Comenity Biz-Bread (Comenity)-DSNB-Webbank-Bill

Anonymous · ‎07-26-2019

Welcome to Crapital One!

Anonymous · ‎07-27-2019

@Anonymous wrote:
Perhaps someone can help me understand this. I’ve been through the ringer trying to get Cap1 to increase the limit on my spark card to be able to use it like I need to for my business ...

Raise your credit scores 100+ points while regularly using what available credit you have been granted and making timely payments. Or, what the CSR said + greatly improve your borrower profile.

I don't see a paradox. I see an opportunity.

Anonymous · ‎07-27-2019

I mean I guess. I already use the card to about 80% util and make multiple payments throughout the month, always PIF.

But I absolutely refuse to get close to my limit. It’s just not a responsible thing to do. Too much margin for permanent damage errors.

I see it as a paradox because they want you to use it (obviously so they can make money) but I always PIF which doesn’t make them money.
They ask you to show responsible use, but that makes them nothing. And then they ask me to use it up to the limit, but that’s not very responsible.

SouthJamaica · ‎07-28-2019

@Anonymous wrote:
I mean I guess. I already use the card to about 80% util and make multiple payments throughout the month, always PIF.

But I absolutely refuse to get close to my limit. It’s just not a responsible thing to do. Too much margin for permanent damage errors.

I see it as a paradox because they want you to use it (obviously so they can make money) but I always PIF which doesn’t make them money.
They ask you to show responsible use, but that makes them nothing. And then they ask me to use it up to the limit, but that’s not very responsible.

They are a stupid outfit.