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Hey Guys,
So excatly 2 weeks ago, I went on a mini app spree for the first time in 6 months and got approved for the Capital One BuyPower World Elite MC, Capital One Play Station Card, and the Capital One Sony Card (yep....loves me capital one, I also have their quick silver and their platinum card). So the first card started reporting yesterday, but I am not sure which one it is since they are all from Capital One and all for the exact same credit limit. My issue is the card that started reporting shows as a regular new account credit card on my Experian account, but today it starts reporting on my TransUnion account as a "Flexible Spending Account". Does anyone know what this means, does it affect anything, and why it is showing as this rather than a regular credit card account? It shows my credit limit so i'm not sure what's up. Can anyone shed some light on this?
Thanks!
Isha
I'm not sure about that, but as far as determining what card is reporting you should be able to figure that out from the account number.
Off topic, when you applied for and got approved for 3 different Capital One cards, did you just receive 1 HP per bureau as if you applied for 1 CO card, or did you receive multiple inquries per bureau?
For the Buypower Card and the Play Station card, they ran 3 bureaus for the Sony card they only pulled one. Ironically however the few pts that caused my scores to fall was bootsted back up past what it was before that because I had just made some big payments on my current cards and then the new credit limits started reporting, so that blanced out .
@Isha82 wrote:Hey Guys,
So excatly 2 weeks ago, I went on a mini app spree for the first time in 6 months and got approved for the Capital One BuyPower World Elite MC, Capital One Play Station Card, and the Capital One Sony Card (yep....loves me capital one, I also have their quick silver and their platinum card). So the first card started reporting yesterday, but I am not sure which one it is since they are all from Capital One and all for the exact same credit limit. My issue is the card that started reporting shows as a regular new account credit card on my Experian account, but today it starts reporting on my TransUnion account as a "Flexible Spending Account". Does anyone know what this means, does it affect anything, and why it is showing as this rather than a regular credit card account? It shows my credit limit so i'm not sure what's up. Can anyone shed some light on this?
Thanks!
Isha
My Venture Siggy and QS WEMC are listed as Flexible Spending Accounts. As I have learned. They act just like a regular CC. Although. You can over the CL limit. (Hope not) And not get penalized, but you have to pay it back when the statement cuts to get it below your CL again. And other little things that dont come to mind at the moment. Years ago I read they didnt even report a CL.
So 7 pulls or 4 pulls? Did they use the same 3 pulls for the 2 cards or pull twice from each of the applications?
I really must say that before I would have done that I would have looked elsewhere for good cards! Three pulls is a bit much for a credit card IMO!
Many banks even with multiple applications will only pull your credit once and give a decision for all apps as long as they are done within a certain amount of time.
I got an increase on my BofA card with the same pull they used for my new card. I almost felt like applying for another card because of that info.
Also the account type might later change when the statement cuts or simply update later when more info comes in.