Can they see?

For just about anything you want to get off your chest about credit cards.
8 posts
JSS3
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Can they see?

Postby JSS3 » Sat Aug 10, 2013 5:46 am

Does your current credit card company have the ability to see if you've recently gotten a new card and it's limit BEFORE it's reported on your credit report? Capital 1 just gave me a WHOPPER of an increase for my 1st increase(started with $500. Now it's $3,500). I was told to expect $750 around the forums as well as when I asked the CSR. Well, I recently (August 1st) applied and received my Discover card with a $2,000CL. It would've been my highest limit thus far. Next thing I know, Cap 1 matches that limit and raises it! Discover is brand spanking new, and from what I read, isn't expected to report for another 2 months. With that said, there's no way Cap1 didn't have this info and decided to give them a run for their money. I have another auto increase in Sept. scheduled for my second Cap 1 card. Wonder how much they'll give me for that one? Probably the $750(lol). I've been very good to Cap1. Spent crazy money with them so far. Been paying early and paying multiple times a month. I guess they didn't want me to go to the other side(which I planned to do). I was going to make the Discover my primary card but back to my Cap1 I go... ;)


Also, last month my Fingerhut was increased to 1,100 from $500. Wonder if that played a role instead? I feel like they'd feel Fingerhut wouldn't be their competition though since it's more a "department store" credit card.
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000


MemberSince99
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Postby MemberSince99 » Sat Aug 10, 2013 6:02 am

No, not unless they are part of the same company would they have any way to know of it before it's on your reports and they've looked.

It's not like the all powerful government spying on everything you email, everyone you call, everything you do and say and think or something like that (for your safety and security, of course).

Don't overthink things folks. It's just plastic.

JSS3
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Postby JSS3 » Sat Aug 10, 2013 6:33 am

MemberSince99 wrote:No, not unless they are part of the same company would they have any way to know of it before it's on your reports and they've looked.

It's not like the all powerful government spying on everything you email, everyone you call, everything you do and say and think or something like that (for your safety and security, of course).

Don't overthink things folks. It's just plastic.

Alright. Guess they went off my Fingerhut and history with them. Some good ol' luck was also thrown my way!
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000

takeshi
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Postby takeshi » Sat Aug 10, 2013 9:00 am

JSS3 wrote:Does your current credit card company have the ability to see if you've recently gotten a new card and it's limit BEFORE it's reported on your credit report?

Nope. Just sounds like your credit has improved.

JSS3 wrote:With that said, there's no way Cap1 didn't have this info and decided to give them a run for their money.

How is there no way? You seem to be assuming that there's causality at play when there's no indication that there is.

JSS3 wrote:Also, last month my Fingerhut was increased to 1,100 from $500. Wonder if that played a role instead? I feel like they'd feel Fingerhut wouldn't be their competition though since it's more a "department store" credit card.

Store card versus credit card isn't factored into your credit scoring. Utilization is utilization. A higher CL lowers your utilization. Paying CO multiple times a month is probably also lowering your utilization. Utilization plays a major role in your credit scoring.

JSS3
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Postby JSS3 » Sat Aug 10, 2013 9:56 am

takeshi wrote:Nope. Just sounds like your credit has improved.


How is there no way? You seem to be assuming that there's causality at play when there's no indication that there is.


Store card versus credit card isn't factored into your credit scoring. Utilization is utilization. A higher CL lowers your utilization. Paying CO multiple times a month is probably also lowering your utilization. Utilization plays a major role in your credit scoring.

Understood. Thanks!
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000

JSS3
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Postby JSS3 » Sat Aug 10, 2013 10:38 am

@takeshi

For clarification purposes--- I understand utilization plays apart in bettering your score(which helps with better offers and such). That's why I paid multiple times. I didn't think there was "causality at play". Although there are no hard and fast rules, I've read many times Cap1 gives very few credit increases and the most will probably be $750. Yes, everyone's case is different so I didn't take it as fact, but in the back of my mind, I did think that whether you have great utilization or not, that's the most this self-professed "conservative" company will offer is that. I brought up "store" card vs regular credit card not to say that it's a factor, but to say I understand that credit card companies are competitive with each other. They try to top each other. I found it hard to believe that when "conservative" Cap1 was deciding to give me my 1st credit increase, they compared themselves to a store credit card(which I consider no competition since there are limitations on where you're allowed to spend it), so wondered if they, somehow, saw that Discover was currently in the lead for my business which I was heavily giving them(Cap1). Hence this topic. I now know that's not the case(from the replies I've received in this thread) so I guess they were just being generous and going off my highest credit limit so far(Fingerhut). I stand corrected and remain extremely grateful to Cap1 for their generosity.. I, in no way, want to make it seem like I'm looking a gift horse in the mouth. I'm just inquisitive by nature and I do tend to over-analyze things. I'm also trying to learn the ins and outs/tips and tricks as I'm also competing. This journey is fun to me. Learning and trying to get to A1 credit as well as having lots of credit available to me.
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000

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nismoZtuner
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Postby nismoZtuner » Sat Aug 10, 2013 1:31 pm

Interesting....
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

xbillyjean42x
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Postby xbillyjean42x » Mon Aug 12, 2013 7:28 pm

I've seen where some people have a CL for Capital One, you get a large CL from Discover for example, and then Capital One up's your CL. Or if you use your other cards more, CO up's your CL for them. Competing for your business. Maybe the two companies in question for you, is somehow affiliated and they know your CL's?
HSBC Orchard Bank Platinum/Captial One Platinum MC- $3800 Nov 2011
Capital One Platinum MC- $1500 Jun 2012
Discover IT Student- $500 Aug 2013
EECU Credit Union Visa- $500 Aug 2013
Best Buy (Citibank)- $2k Sept 2013
Citi AAdvantage MC-$4k Nov 2013



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