Cap One Question

[Anonymous]

Ok, I'm playing the Cap1 game. So, I need your help on gettting it done. I received the cap1 card with a 2500 CL. Since they don't report the limit I used it to pay for my Aruba vacation which was 2300.  Now do I PIF before the bill comes or can I wait to recveive the bill then PIF? So, it shows the high balance?

[VLGaffEsq]

If I were you, I would also go buy over $100.00 or so worth of groceries today or tomorrow, then go online and see your balance at @ $2,400 and change and then PAY IN FULL immediately and that amount will show as your "available limit" of credit.  Bottom line, pay now!

[Anonymous]

Thanks!

[Anonymous]

They report "high Balance"
Does not matter when or how

[Anonymous]

So, does that me utilization will still be high even if PIF? I'm not understanting this...

[Anonymous]

credit4me wrote:

So, does that me utilization will still be high even if PIF? I'm not understanting this...

No what that means is the maxium amount ever showing on your balance on the card will be substituted for your limit where FICO is concerned.  SO if you charge 250.00 max in one month and paid it off, FICO will read your limit on the card as 250 even if the limit is 10K. 

If you charge the same 250.00 in 50.00 increments and paid off as soon as the 50s hit your account, FICO would think you only had a 50.00 limiton the card.

[Anonymous]

Thanks! One more thing will the highest balance be replaced by any new balance each time it's reported? Hope that's not a dumb question...

[Anonymous]

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credit4me wrote:

Thanks! One more thing will the highest balance be replaced by any new balance each time it's reported? Hope that's not a dumb question...

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Not a dumb question if you don't know the answer.  The high balance will only be updated when you exceed the preivous high balance

[Anonymous]

Thanks!!