Most credit card companies report your credit limit in your credit file. If they give you a $5000 credit limit, they report that. But Capital One is different, they have a policy that is not only frustrating and different, but it actually lowers your credit score! I am trying to rebuild my credit, so I did what most folks do they get a secured card first and build a new credit history get another card that is not secured with higher credit limit and pay it off and all that.
So I am all happy the day I get a preapproved $5000 offer from Capital One in the mail, I think wow! Maybe my credit is finally going to recover here, (yes I know it still takes time). Anyway I find out that after 2 months of the card being reported, its gets reported this way High Credit 0, balance 0, so I have an open account but shows no credit available! No amount of calling them will get them to change their policy, so If you are like me and are trying to rebuild your credit stay away from Capital One. And BTW they still sell your name to telemarketers. Steve
Jacksonville, Florida
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