credit card
Registered User
Joined: Feb 2006
Posts: 3,627
Likes: 0
From: San Jose, CA
Originally Posted by SIIK2NR,Mar 15 2008, 09:06 PM
Simply not true.
Registered User
Joined: Sep 2006
Posts: 340
Likes: 0
From: Richardson, TX
Registered User
Joined: Mar 2004
Posts: 797
Likes: 0
From: Alexandria
Originally Posted by Amit,Mar 15 2008, 10:41 AM
My girlfriend never had a credit card and I'm going to have her apply for one so she can start building her credit. Are there any banks that are more friendly to first timers. She has no credit, but she doesn't have any bad credit either.
thanks
thanks
My fav is USAA, but second is my Wachovia one.
Registered User
Joined: May 2001
Posts: 900
Likes: 0
From: Richmond, Virginia
Actually, many credit card companies made it a habit not to disclose credit limit information. It's not that Capital One declared that your balance was your credit limit, it's that no credit limit information was declared. Lacking that information, the bureaus could only calculate credit based on the balance information, so it would look bad. At least that's my understanding.
By the way, Capital One stopped doing that last year and declared so to Congress, I believe.
Many credit card companies have cleaned up their acts over the last few years.
By the way, Capital One stopped doing that last year and declared so to Congress, I believe.
Many credit card companies have cleaned up their acts over the last few years.
Registered User
Joined: May 2001
Posts: 900
Likes: 0
From: Richmond, Virginia
Oh, and why would a credit card company do that, you may ask?
It was to keep other credit card companies from data mining the bureaus and stealing customers with offers of greater credit limits.
It was to keep other credit card companies from data mining the bureaus and stealing customers with offers of greater credit limits.
Registered User
Joined: Feb 2006
Posts: 3,627
Likes: 0
From: San Jose, CA
Originally Posted by AgS2K,Mar 16 2008, 07:02 AM
Actually, many credit card companies made it a habit not to disclose credit limit information. It's not that Capital One declared that your balance was your credit limit, it's that no credit limit information was declared. Lacking that information, the bureaus could only calculate credit based on the balance information, so it would look bad. At least that's my understanding.
By the way, Capital One stopped doing that last year and declared so to Congress, I believe.
Many credit card companies have cleaned up their acts over the last few years.
By the way, Capital One stopped doing that last year and declared so to Congress, I believe.
Many credit card companies have cleaned up their acts over the last few years.
