Cap One Quicksilver Manual Review?

[ILFarmer]

I recently applied for a Capital One Quicksilver and I E-mailed the CEO after being denied. I got a call this morning explaning why I was denied, high usage, lenth of credit history, blah blah blah. According to my discover bill my FICO is a 745, and I checked my TU last night and it was a 733. 

I got discover to up my credit limit to 4300 2 days ago over the autmated phone message. My useage is high because I have too low of a limit for my spending habbits. I guess I just need to pay cash or write checks more.... until I can get another card or two and higher limits. I ALWAYS PIF, and have NEVER had a late payment. 

Anyway, will the "manual review" that I am going to be given do any good? I explained how my util is high because I don't have a high enough line of credit. It seems to me that even if I was a billionaire and paid my bill in full I still can't get rewarded with enough credit or some better cards. I really don't see the problem in spending 99% of a CL if the bill is PIF every month.. 

[gdale6]

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@ILFarmer wrote:

I recently applied for a Capital One Quicksilver and I E-mailed the CEO after being denied. I got a call this morning explaning why I was denied, high usage, lenth of credit history, blah blah blah. According to my discover bill my FICO is a 745, and I checked my TU last night and it was a 733. 

I got discover to up my credit limit to 4300 2 days ago over the autmated phone message. My useage is high because I have too low of a limit for my spending habbits. I guess I just need to pay cash or write checks more.... until I can get another card or two and higher limits. I ALWAYS PIF, and have NEVER had a late payment. 

Anyway, will the "manual review" that I am going to be given do any good? I explained how my util is high because I don't have a high enough line of credit. It seems to me that even if I was a billionaire and paid my bill in full I still can't get rewarded with enough credit or some better cards. I really don't see the problem in spending 99% of a CL if the bill is PIF every month.. 

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If one wishes to play in the game of credit one must learn how to play by the rules. We dont make the rules the creditors do. To cure utilization pay the bill prior to statement cut, let only 1 card report 1-9% of its CL. The manual review may get you what you are after, writing more checks and paying cash will get you nowhere in this game. Patience is needed, if I remember you are young, time is also your friend... With your score I think I would be applying for top quality cards that match your spending. A few CUs I am sure would love to do business with you. Good luck

[Uppingmyscore]

Wishing you good luck and BTW: I want to thank you for all you do as farmer.  That's one of the hardest job!!! 

[ILFarmer]

Thank you!!! It is hard at times, but I can't see myself doing anything else! 

[angelcred10]

Exactly what he said.

I was reading thinking, ah well, he's just paying the bill but not reporting it paid so to them, it looks like you DONT pay, even though you do.

i.e. bill says = $268 spent /300 limit pay in full then spend 200 again the next month

I think you understand now though!

Good Luck on QS, keep informed!

[hayhayhayday]

Do banks see payment amount that shows up when you pull your own report? If so then even if bance showed $250\300 or whatever if they saw payment of 300 they wouldknow you pif

[AeroKrix]

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@hayhayhayday wrote:

Do banks see payment amount that shows up when you pull your own report? If so then even if bance showed $250\300 or whatever if they saw payment of 300 they wouldknow you pif

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When you order a report directly from the CR's, you'll see actual payment history for each month listing balance, amount paid, etc... since creditors pull directly from a CR, they will see what you see. So to answer your question, yes. But for the sake of FICO, it only calculates what is reported, hence why knowing cut off dates is important.

[Chris679]

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@AeroKrix wrote:

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@hayhayhayday wrote:

Do banks see payment amount that shows up when you pull your own report? If so then even if bance showed $250\300 or whatever if they saw payment of 300 they wouldknow you pif

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When you order a report directly from the CR's, you'll see actual payment history for each month listing balance, amount paid, etc... since creditors pull directly from a CR, they will see what you see. So to answer your question, yes. But for the sake of FICO, it only calculates what is reported, hence why knowing cut off dates is important.

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To elaborate on this a little more, some reports will show how much you actually paid but it is very hit or miss.  If you are letting a balance of $250/$300 report each month it is going to look like your card is constantly maxed out.  The actual cardholder will know how much you are spending and paying each month so they will be happy that you are using the card each month and will probably give you auto CLI.  However, if another lender is looking at your report it doesn't look good because it simply looks like an account that is almost maxed out.  If you are not applying for anything then it doesn't really matter but its good to get in the habit of letting <10% balance report.  You never know when something is going to come up and it always seems to be at the worst time unless you stay on top of it at all times. 

[sexy_kitten7]

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@AeroKrix wrote:

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@hayhayhayday wrote:

Do banks see payment amount that shows up when you pull your own report? If so then even if bance showed $250\300 or whatever if they saw payment of 300 they wouldknow you pif

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When you order a report directly from the CR's, you'll see actual payment history for each month listing balance, amount paid, etc... since creditors pull directly from a CR, they will see what you see. So to answer your question, yes. But for the sake of FICO, it only calculates what is reported, hence why knowing cut off dates is important.

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This is correct. Most data furnishers currently report CL, balance, and payment info to the CRAs, but the payment info isn't used in FICO scoring (yet). This means that revolvers and transactors cannot be readily distinguished! And of course, you are maxing out your card (if only for a few days) each month while PIF.

Solution: Make more frequent payments or spread out your spend across accounts.

[CenturyChild]

payments, use history may not matter to FICO scoring, but Im convinced it matters to the lenders on a manual reviews.

My QS card was about 10 months old when EO doubled my limit and removed the AF.

Thing is, that card always reports a 0 balance. I PIF before the statement closes.  I think out of 11 statements it reported a balance 1 time, and it was small. Around 10-15%.

But, if they look at the history, they could see heavy use and large payments.  Always near its limit in use monthly, and many times exceeding its limit in use/payments, although reporting 0 balance.

So, they fact a card reports 0 every month I do not think matters that much. IF you are using it.

They can see it all and I believe this all does matter.

Face it, they want us in debt so theres a chance of making some money.  On manual review these habits look like you simply do not have enough credit.  By giving you more, you may start carrying a bit of a balance, maybe pay some interest here and there.  Or at least, my thoughts anyway.