Credit karma unlikely scenario?

[Thermionic_E]

It I have had my credit stunted so heavily by the absolute lack of consideration of my actual usage and profile due to the existence of lower credit lines on subprime cards... capital one and credit one in spite of being two years old may be hurting me... credit one has extended an unusual 1k for them at least (which cost me hundreds to cli to) but I still feel these subprime cards don't help much. My capital one is my oldest card and a secured card of only 600 dollars after perfect payment history in full each month of theee years and my second card was an Amex 2k bce several months later... then I went backwards believing I would be given higher lines due to my year of building credit snd I was wrong: I got a credit one for 300 and a capital one quicksilver for 500... my total cl across accounts without this first capital one card would still be 15k now...

it shows if I were to close this card my score would jump up 30 points... however, the balance it is carrying is 600 because they randomly decided to cut the statement two weeks late which really irked me. Is that the actual reason it is showing this because it equates the closed account to being balanced?

[Anonymous]

When you say "it shows" I'm assuming you're talking about a credit simulator, presumably from CK?  Keep in mind that simulators are notoriously inaccurate and cannot be replied upon.

[Anonymous]

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@Thermionic_E wrote:

It I have had my credit stunted so heavily by the absolute lack of consideration of my actual usage and profile due to the existence of lower credit lines on subprime cards... capital one and credit one in spite of being two years old may be hurting me... credit one has extended an unusual 1k for them at least (which cost me hundreds to cli to) but I still feel these subprime cards don't help much. My capital one is my oldest card and a secured card of only 600 dollars after perfect payment history in full each month of theee years and my second card was an Amex 2k bce several months later... then I went backwards believing I would be given higher lines due to my year of building credit snd I was wrong: I got a credit one for 300 and a capital one quicksilver for 500... my total cl across accounts without this first capital one card would still be 15k now...

it shows if I were to close this card my score would jump up 30 points... however, the balance it is carrying is 600 because they randomly decided to cut the statement two weeks late which really irked me. Is that the actual reason it is showing this because it equates the closed account to being balanced?

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1)  Simulators are unreliable.  You are also talking about Vantage scores when you mention Credit Karma.

2)  Credit One is certainly not known for high credit lines and the chances of getting a super high credit line with Capital One is unlikely considering you only had a secured card with them.

[Thermionic_E]

I figured as much. It just drives me insane to have three slots taken up by subprime because I didn't realize capital one would cap me even with the quicksilver card in spite of PIF and utilization of the cl for three years. Useless.

[Horseshoez]

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@Thermionic_E wrote:

I figured as much. It just drives me insane to have three slots taken up by subprime because I didn't realize capital one would cap me even with the quicksilver card in spite of PIF and utilization of the cl for three years. Useless.

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I wouldn't exactly say "useless"; if you keep all of your cards paid down to either zero or to a lower utilizatin percentage, say under 5%, the cards will actively help your FICO scores (you can ignore the Vantage scores, regardless of their source).

[Anonymous]

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@Thermionic_E wrote:

It I have had my credit stunted so heavily by the absolute lack of consideration of my actual usage and profile due to the existence of lower credit lines on subprime cards... capital one and credit one in spite of being two years old may be hurting me... credit one has extended an unusual 1k for them at least (which cost me hundreds to cli to) but I still feel these subprime cards don't help much. My capital one is my oldest card and a secured card of only 600 dollars after perfect payment history in full each month of theee years and my second card was an Amex 2k bce several months later... then I went backwards believing I would be given higher lines due to my year of building credit snd I was wrong: I got a credit one for 300 and a capital one quicksilver for 500... my total cl across accounts without this first capital one card would still be 15k now...

it shows if I were to close this card my score would jump up 30 points... however, the balance it is carrying is 600 because they randomly decided to cut the statement two weeks late which really irked me. Is that the actual reason it is showing this because it equates the closed account to being balanced?

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Don't rely or believe in those credit simulators.   They tell me if I open another credit card my score would go up.   I open over 8 credit cards in a one month period my scores dropped yet CK is telling me if I open up another it will go up!   lol     

[SDMarik]

The CK simulator can not be relied on at all, I have found that anything that uses the Vantage scoring system to be horrifically inacurate, as far as simulators go I have seen both Experian and Myfico to be relatively reliable, however they can still be pretty inconsistent.

On CK not too long ago I was playing around with the simulator and It said if I paid down like 85% of my current utilization my credit would be around 785, but if I paid the whole thing down it would be 765, so who knows.

I can't imagine that closing a card would bump your score by 30 points. 

Capital one is notorious for small CLI, I have a quicksilver card (used to be platinum) that is 13 years old and after all these years I have only been able to get my CL to $3,000. I have other cards with CL's over $20,000 and for some reason Capital one never EVER gives me more than a $500 increase every year or so, and only when I ask for it.

[SoCalGardener]

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@Anonymous wrote:

When you say "it shows" I'm assuming you're talking about a credit simulator, presumably from CK?  Keep in mind that simulators are notoriously inaccurate and cannot be replied upon.

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Oh my goodness, Credit Karma's "home buying power" simulator is THE WORST I've ever seen! I've contacted them about it, multiple times over the last couple years, but it's still as bad as ever. I plug in my income, my monthly debt, and how much I have for a down payment. Simple, right? Wrong! It tells me I can afford a $580,000 house--despite having $1.8M for a down payment! *SMH*

I like CK overall, but this really bugs me. I was a programmer for many years, and I would be embarrassed to make something this inaccurate publicly available.