FICO Rental Penalty

[smallfry]

How high can I realistically expect my scores to get if I rent? I only have a car loan and a few lines of credit with retail stores. My credit card doesn't report credit limit (CAPONE) I've been hearing you can force some kind of utilization number by running the card up then paying it off but I wonder if this is a one time event or do I have to keep charging large amounts. How does the Capital One thing work anyway? How do I know if any other cards report high credit on the reports?

[Tuscani]

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smallfry wrote:
How high can I realistically expect my scores to get if I rent? I only have a car loan and a few lines of credit with retail stores. My credit card doesn't report credit limit (CAPONE) I've been hearing you can force some kind of utilization number by running the card up then paying it off but I wonder if this is a one time event or do I have to keep charging large amounts. How does the Capital One thing work anyway? How do I know if any other cards report high credit on the reports?

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Its not really about needing a mortgage.. instead its having a good mix of credit.. ie.. installment and revolving. CAP1 does not report your CL, just your high balance. So unless you charge it up once and pay it off it makes you look maxxed out.

[smallfry]

Thanks Tuscani. I'll just use the card for coffee every month and let the score settle out then apply for a more useful card.

[Tuscani]

Good plan. The CAP1 reporting is very frustrating. Don't bother asking them why they do it either.. they will tell you it is to "protect their customers"..LOL

[Anonymous]

760 after time with what you entered. Renting is not really a factor.