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... |
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People say their credit is like 700 or something. How do i check my credit and what is good credit? How can i check it without paying stuf!?
Additional Details
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bbydol221 | Does anyone know about capital one credit cards? |
i've heard they don't report positive status to the credit bureaus. apparently they only report if you miss a payment or something so if you maintain good payment history then it won't show up on your credit. is this true because credit cards should report everything, right? |
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Support Breast Cancer Research
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Don't waste your time they have a high apr interest rate. They also charge if you pay your card early and late. If you have a bank account you should get a card throught them you would have to have start up cash. Good Luck. |
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MBA Grad Student
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They do report your payment history to the credit bureaus, but they report your maximum amount you've ever charged on the card as your credit limit, so it affects your utilization percentages on your credit report.
For example, if your credit limit is $5,000, but the most you have only charged on your card is $750, it will show $750 as your credit limit, when it's really $5,000. So it looks like your Capital One account is maxed out all the time. |
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NONAME
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Capital One has a sickening business practice, it goes like this:
They pre-screen credit reports, and make offers to people. If you take their card, they will never report your actual credit limit. The credit bureaus are being sued in a class action lawsuit right now because they're allowing CO to hurt peoples' credit with this practice.
What happens, since the bureaus don't know your limit, is they replace the "limit" with your high balance, the most that's ever been reported on your card.
Imagine you have a $10,000 credit line, but you never have spent more than $1000 on that card. Your limit will read as $1000. So, let's say you have an $950 balance on that card. The scoring system will read it like you have a maxed out credit card, using 95% of your "limit", and you can lose 20-60 FICO score points. Now you are less likely to get poached away from CO, because your scores are lower.
IT GETS WORSE. CO has the right to reverify your credit, and they do it monthly on most people. Now that your scores are down, and you have the dreaded "proportion of balances to credit limits too high on revolving accounts" flag on your scores, CO can and will jack up your rate from 0% to 33% default rate!!!!! And they did it to you!!!!
They are as crooked as they come. May as well rename themselves Corleone One.
Avoid them at all cost.
Read this article: http://www.theledger.com/apps/pbcs.dll/article?AID=/20060701/NEWS/607010310/1001/BUSINESS |
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Thrasymachus
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They're bandits. Stay away. You'll get sucked in and never get out. That's just the way they like it.
I don't know about their credit reporting practices, though. |
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allthree
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uhh...
Well, if you don't miss a payment, then nothing is reported, the assumption is that you keep up with your payments....
Your credit report will show that you have an open account with a creditor, and if you're carrying a balance, it will show that balance...if you're never late with a payment, then it's all considered "positive"...now be careful with credit because another important factor is your debt/credit ratio. A good rule of thumb is to always stay under 50% - meaning if you have a $40,000 limit on a card, don't ever charge more than $20,000
Hope that helps. |
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ewcrone
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stay away from capital one, they will never let you pay off the card, trust me, i know, i paid mine off, they kept it going with thier 'premium service' kept a charge of one dollar a month on there for some b.s., and then sent me a bill about a year later saying i owed them several hundred dollars |
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Michael
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They also don't report credit limits. Since all three credit bureau's use this to help calculate your credit score it will actually hurt your FICO score.
Advice I have received is to ask the credit card company if they report credit limits. If not find a card that does. |
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skcs69
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Crooks. They post payments late, the charge you a late fee. |
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nuniestar
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I think they are just like any other credit card company! I have had them for some time and I have missed a few payments at times and it has never showed up on my credit report! |
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