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Sun Mar 18, 2007 7:57 pm  |
| Capital One is the only credit card that doesn't charge any transaction or currency exchange fees. I also use it when I travel to Europe. |
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Sun Mar 18, 2007 10:17 pm |
| ParisTroika wrote: |
Cool...I shouldn't have gotten rid of that card!
I culled all of my credit cards down to one about 2 years ago...I went with the one I had the longest, could negotiate the lowest APR, and had the highest limit.
That was my MBNA.
Boo. |
No, that was a good move Paris! Capital One cards can hurt your credit because they do not report your credit limit! Unfortunately, I learned that after we got one.
"What irks me, though, are lenders that deliberately make their customers look like worse credit risks than they are. Some of the worst offenders are issuers that don't report their customers' on-time payment records at all. Next on the list are those that don't report their customers' credit limits, like Capital One.
When a lender doesn't report a customer's credit limit, the bureaus typically use the "highest balance charged" as a proxy for the limit. The problem comes when borrowers charge about the same amount each month.
Here's how it works: If you use $300 of a $1,000 limit that's properly reported, the all-important credit-scoring formulas figure your "credit utilization" at 30%, and that's good. If your limit isn't reported and the highest balance you ever had was $300, it looks like you're using 100% of your available credit -- and that's bad."
http://articles.moneycentral.msn.com/Banking/CreditCardSmarts/CreditCardCompaniesEvilTricks.aspx |
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28 Fair skin, brown hair, blue eyes & acne prone combo skin |
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