Capital One® No Hassle Cash (SM) Rewards Credit Card Review
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Written by: jemannie on 2010-08-31

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jemannie's review: Callout Comment

Approved for CL of $300 w/ scores of Ex-565, Eq-539, Tu-584. I have been monitoring my scores and paying my 2 cards (w/ monthly fees) as well as my car note every month on time. I have 2 judgments, 1 bankruptcy, and a few collections but I've been paying off collections and disputing things off of my credit report for the last year. My scores have grown from the 490 range since then so I'm extremely proud and will be closing the card with the lower CL of $200!! Will continue to work on credit to increase scores and lower risk!!


Comment 1 by colonative
Re: Approved!! User Icon on 2010-08-31

Remarks Congrats! Look for Credit Steps in the mail and as long as you keep your nose clean you should be getting credit line increases soon!
Comment 2 by roughdraft
Re: Approved!! User Icon on 2010-09-01

Remarks Congratulations! Sounds like you're on your way to improving those scores. I would advise though, that your credit history is the largest determining factor of your credit score, at about 35%. Closing that card would lower your score. I would only close it if those monthly fees are really braking the bank. Otherwise, if you've had it for more than 6 months, maybe asking for an increased credit limit would actually help your score. This would increase your available credit, and thus your overall credit ratio (the amount of credit you are using in total) which you should keep at or under 35% should you need to carry a balance.
Comment 3 by jemannie
Re: Approved!! User Icon on 2010-09-02

Remarks Thanks for the congrats! I am reconsidering keeping the card with the lower limit for the simple fact that I've kept it in a good status for over a year now but the company still won't give me a credit increase even though I've had great history with them. They are one of those "rebuilder" companies that charge you a ton of fees up front when you get the card as well as a monthly maintenance fee. Instead of a credit limit increase, they offered me a second card instead which made no sense to me if you denied me a cl increase. I may just keep the card and use it to fill up my car once a month though. Thanks for the advice, Roughdraft! You helped me to make up my mind.
Comment 4 by wanderer
Re: Approved!! User Icon on 2010-09-02

Remarks Congrats! You will get a good door opener out of Cap One. The credit steps are capped but, they may look to offer you other products and other card issuers will see your performance. Good luck!
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