Capital One

[vsjhoc]

Re: Capital One

I've never actually seen the impact of that particular practice (not reporting the credit limit).

Cap One is the only card I have, I'm a renter with no car payment so it's also the only debt obligation I have month to month yet my score has not been hurt at all.

I don't know what your credit score is, but it's possible it would be higher if you had a card that reported your true limit.

[poundwise]

Re: Capital One

I don't know what your credit score is, but it's possible it would be higher if you had a card that reported your true limit.

Not necessarily though. (I know, you said "possible" and yes, it is possible.)

There is also the point that seems to need to be constantly made that a higher score is not necessarily better in any practical way. That is, if you have a high score, there is no real reason to try to actively make it higher.

"There is no reason to go from 775 to 850, because you're still going to get the same rate," says Linda Sherry, spokeswoman for Consumer Action, a Washington, D.C.-based advocacy group."

Cf. Bankrate article

That figure in the 'for instance' given by Ms Sherry is actually quite high. Many mortgage lenders provide information on how you are rated (graded) by underwriters for approval for a home loan and this information generally lists a top tier rate tied to a score of 670+. Insurance uses scores in still broader ranged tiers. Certainly, if one has a score of 670, 720, etc. there is, again, no real reason to take active steps to raise your score.

[poundwise]

Re: Capital One

815 on the most recent pull, I'd just assume not mess with it.

Absolutely.

And isn't it funny that so many people, who don't seem to be "doing the right things" to get a high score, have one?

[vsjhoc]

Re: Capital One

815 on the most recent pull, I'd just assume not mess with it.

Fabulous. Just keep doin' what you're doin'.

Another factor: I understand that some people with a relatively new credit history start out at a higher score than the score that some people with a longer history have obtained. You don't start out with a 350 and go up from there.