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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: capital one and credit reporting||Date: 6/16/2007 7:49 AM|
|Author: TicoHombre||Number: 254481 of 308341|
So... if you have a C-1 card with a low limit, pay it for a year or two. On time, and don't exceed your limit. Then watch the mail for a "pre-approved" offer from them. The first one will be at about 9% plus it will offer a limit twice the highest limit you presently have from any OTHER card vendor. So if your WAMU card is $6k, then your pre-approved C-1 offer will be about 12 grand.
That's very interesting. However, I would be very surprised if I get an offer from Capital One (current opening limit of $5,000.00) for a credit line of $52,000 (roughly twice the limit of my Citibank card).
I've had the Capital One account for about a year now with perfect payment history. We'll see what happens. Maybe it won't happen that way since I don't necessarily have a "C-1 card with a low limit."
Interesting post, however.
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