Question on Cap1

[2anewu]

Hello everyone, I have been reading the forums and they have helped a lot.  I did have one question that I needed answered--- I got my Cap 1 card in 12/06 and after my bill the balance was PIF. So do I now pay the min and then pif the next month since I didn't pay the min on the first bill? I am wanting to know which way will help my credit the most since I am new to the forums and did not make the min on any of the bills. If someone could clear this up I would appreciate it. Thanks

[Anonymous]

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@2anewu wrote:

Hello everyone, I have been reading the forums and they have helped a lot. I did have one question that I needed answered--- I got my Cap 1 card in 12/06 and after my bill the balance was PIF. So do I now pay the min and then pif the next month since I didn't pay the min on the first bill? I am wanting to know which way will help my credit the most since I am new to the forums and did not make the min on any of the bills. If someone could clear this up I would appreciate it. Thanks

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Well you will have to give us more detailed information about what other accts you have open. What are your credit scores, what do your reports look like (ex. good accts, bad accts, length of credit history etc). There are many things factored into making your credit better.

[2anewu]

My EQ score is 602 right now. I have an auto loan that was charged off on 12/04. 4 paid off collections (wish I would of read the forums first), 1 public record that is to removed in 2/08. And as far as my payment hx and amount of new credit etc. it says not good.  The amount of new credit is bad. I have the $300 limit and I have been pif the balances. Hopes this helps.

[Kevin5974]

I would continue to pay off as much as you can on the Capital One card. That card actually goes for 3 months I believe and then automatically ups your limit to $500 based on solely ACCOUNT HISTORY and not a look at your credit report. My girlfriend had that card and they upped it about 3 or 4 months later to $500. Any additional credit line increase could be difficult with that credit history. My opinion is, dispute those paid collections as not yours. My girlfriend did this and the collection agencies actually deleted them seeing as there was no real reason to keep them on there since they were paid. Hope you get the same luck :-)

[2anewu]

Thank you all so much for the advise and info.  How do you dispute something as "not yours"?  Do you do it online or do you write a letter and if a letter--then how? Thanks again.

[Anonymous]

I wouldn't hold my breath on any sort of automatic upping of the CL with Cap One. If you got one, I would say that you were fortunate. Even with a 700 FICO six years after BK and being a VERY good customer with Cap One, getting a CLI from them has been like pulling teeth.  I have them paid off right now, and that card will stay that way. I have two BETTER cards in hand right now and one even better on its way.  Don't get me wrong, it is partly because of Cap One that I have recovered so well, but now that I have, they are rate-jacking and refusing to CLI or drop annualfee. Come this November, they wil or their card will be cancelled. I've only kept them this long for the good history.

Message Edited by KevKaos on 05-23-2007 04:06 PM

[Anonymous]

Cap 1 send me my card, and not even a week later, I got a letter saying if I used it within the first 90 days, didn't go over limit, and paid the first 3 payments ontime that they would auto up my CL from $300 to $500.