Question : I just just applied for a capital one credit card, how do I show proof of my credit limit to credit bureau?
I just just applied for a capital one credit card and did not know that they don't report your credit score to 3 major credit bureau, if I did know then I would of not applied for Capital One. So how do I notify and show proof to the 3 major credit bureau what my credit limit is for Capital One? So I don't have to risk lowering my credit score? Does anyone have any hints about Capital One?
- asked by azkoolchik
All Answers:
Answer #1
I avoid capitol one like the plague! They sent mea statement with a zero balance, which is allgood, but I never signed up for a card. I was onhold for an hour, talked to 4 different peopleexplaining the situation, then got attitude when Itold them to cancel the card because I neversigned up for it. Be warned about Capitol One.
- answered by justcallmeriss
Answer #2
why do you have to show the credit limit..I don'tunderstand your question? If you pay your paymentson time...and they don't report anyway.....I thinkyou should just return the credit card applysomewhere else
- answered by jonni_hayes
Answer #3
Capital One reports to the credit bureaus. I amnot sure where you are getting your informationfrom.
- answered by Wango138
Answer #4
Capital One reports to all of the 'big 3' creditbureaus. But they do NOT report credit limits. Ihave 5 credit reports on my desk that have Cap 1accts on them. None of them have a reportedcredit limit. This has the effect of deflatingyour score. I would cancel it. You may take ahit on your credit report for it, but it is likelythat your credit will get hurt worse just byhaving it. Get another card and you won't beaffected much. Build credit with the other onethat you sign up for. I would steer well clear ofthem. Good luck!
- answered by MphsBlues
Answer #5
I don't think there is anything you can do aboutit. Unless you run up a high balance on the cardand then pay it off in full, (they report highbalance) but I really don't recommend it becauseyou could end up in major debt by doing that. Ihave heard that Cap 1 is going to start reportingcredit limits by the end of the year, althoughI'll believe it when I see it.
- answered by toastergnome
Answer #6
While Capital One doe's report to all of thecredit bureaus they do not report creditlimits.What you need to do is make copies of youragreement with Capital One where they stated yourcredit limit and send these to all three creditbureaus.This should solve the problem.
- answered by spifiman1
Answer #7
For what reason, or who told you, to provide thatinfo to the credit bureau? They will not add itin anywhere. When you get your first statement,it will show your credit limit, balance, andavailable credit. You can mail that in for proof. You can also show this statement to a creditor ifyou're applying for new credit. However, it'sit's not reporting your credit limit, then it'salso not calculating your credit usage for thataccount. That might be in your favor, whencalculating your Fico score.
- answered by Tony L
Answer #8
capone report to all 3 credit bureau they do notreport credit limit. best way to prove yourlimit is max them then pay them off.if u have $500cl spend $495.$495 is your limit.
- answered by helpme
Answer #9
Yes. Cap1 does not report your limit.This isimportant because, without a credit limitreported, your fico score is determined byarbitrary number, in this case it will take yourhighest spending month and label that as yourcredit limit. So if that were to be 500 and thenext month you spend 400, it would show that youspend 80% of your available credit, which willdrop your score. To those who think just payingoff your bill month to month will raise yourcredit, sorry to say, are up for a rude awakening,credit is determined on a big part of the ficoscore. They determine it by how much load you useeach month, spending below 50% of your creditlimit is the fastest way to build your score. Meaning, if your limit is 500, try not to spendmore tehn 250 on that card.Solution:option 1, isto like some have said, max it to your currentlimit given, so if 3k is your limit, spend 2900. But only do this if your are sure that you can payit off in one swoop, or you may rish puttingyourself into further debt in which case defeatsthis entire purpose. option 2, get another cardthat reports your limit. I've read that cap1 hassome very shady practices like raiseing yourinterest rates and lowering you credit limitwithout any notice.hope tat helps
- answered by johnva
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